Funds who fail to lodge their annual report (SAR) by their 15 May or 5 June due date, who have not received a deferral to lodge by the ATO before their due date, will automatically have their status on SFLU changed to “Regulation details removed” if they have not lodged the SAR by the end of the month in which the lodgment was due, as they have missed their due date by more than 14 days.
The ATO’s automated process updates the SFLU on the 1st day of the month and any change to an SMSFs status is displayed on SFLU the following day. The SMSFs details will not be returned on SFLU to complying until the 2nd day of the month following lodgment of the SAR.
However, this will not make a fund non-complying. A fund can only be made ‘non-complying’ after they have been issued with a notice of non-compliance which is not an action taken lightly by the ATO.