When removing a SMSF, we will provide SMSF trustees the following services to ensure that member can be removed properly:
- update the trust deed
- prepare all the minutes for the trustees
- update ASIC or ATO record
- lodge change of superannuation entities details form with ATO and ABR
- calculate exit member’s balance to the current date
- prepare rollover statement for the exit member
- notify SMSF trustee of the payout figure for the exit member
Trustees must act promptly and send us the following documents:
- signed new trust deed
- signed all the minutes we prepared
- email or mail us all the SMSF transaction documents to the current date
- pay the exit member’s balance to his/her retail/industry super fund or other fund
Please note if your SMSF has individual trustees, the exit member also has to resign as the trustee of your SMSF. Therefore, the remaining trustees need to update the trustee name for all the assets held by your SMSF.
Should you have any queries in regards to removing a member please feel free to contact us.