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Changing SMSF Trustee

Changing SMSF trustee needs to be done properly to avoid compliance risks and future unnecessary costs.

Change of SMSF trustee

You can change your SMSF trustee from individuals to corporate trustee or vice versa. Our services including:

  • Update the trust deed
  • Prepare all necessary minutes
  • Notify ATO or ASIC of changes
  • Update ABR
  • Advise you the procedure to change details with investment registries or banks

SMSF trustees have to follow the steps as below to correctly change the trustees to avoid compliance issues:

  • Sign and date the new deed
  • New trustee has to sign ATO Trustee Declaration From
  • New trustee has to sign Consent to Act as Trustee minute
  • Trustees must send the signed new deed to all share/investment registries/banks etc to update the trustee name

SMSF trustees need to be aware that failure to change the trustee name with all share/investment registries/banks in a reasonable period of time will breach the SISA. Therefore, we suggest SMSF trustees to seek professional help in regards the trustee change.

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