If you have an existing SMSF and you want to move it over to Superannuation Warehouse, follow the steps below. We can seamlessly take over the administration, accounting and taxation functions of your existing SMSF.
The steps to transferring a Fund over to Superannuation Warehouse are as follows:
- You send us an email instruction asking us to take over your existing SMSF. Include the name of your SMSF, the Tax File Number and the name of the Fund’s existing accountant or administrator.
- Superannuation Warehouse will contact the current accountant or administrator and will request your SMSF files and records to be transferred to us with an ethical letter.
- We review your file for completeness, ensuring all lodgements are up to date.
- We appoint Superannuation Warehouse as your Fund’s Tax Agent.
Your obligation: to supply us with all your Fund’s records in Excel, or similar, electronic file format. This can also be scanned copies of bank statements. Our preference is to import all your SMSF transactions electronically and perform an effective and efficient service. Items not available in Excel can be scanned and emailed or posted to us via snail mail.
We strive to keep things as paperless as possible; nevertheless, rest assured, we always keep a hard copy (paper) file containing a summary of your SMSF.
Note that we charge a one-off fee of $475 for an SMSF take-on. This includes the cost of obtaining your Fund records. If any previous years’ accounts, tax returns and audits are outstanding, we will charge $950 for each year that needs to be completed.
Once your SMSF has been transferred to Superannuation Warehouse you can choose between our $39 or $79 plans. These are monthly fixed fees, irrespective of the number of transactions in the SMSF. We will send you a direct debit form to complete so that the monthly fee can be deducted directly from your SMSF bank account.
The monthly fee includes the costs of the accounting, tax and audit. We will appoint an independent auditor to take care of your SMSF. Your SMSF is charged nothing for the auditor as this service is covered by your fixed monthly fee.
For more info about how we do the take-on process, please watch the video below.
An alternative way to transfer your SMSF to Superannuation Warehouse is simply to phone or email us.
Please contact us today!
Questions & Answers – click on the question to reveal the answer
Apart from the take-on fee ($475) we charge $950 to complete accounts and tax returns from previous years (not all SMSFs have an administrator as diligent as Superannuation Warehouse, you know…). We then charge monthly from 31 July onwards, $39 or $79, depending on the plan you choose. So if we take over an SMSF in November we will charge for 4 months initially and then regularly from November onwards. We will ensure that your SMSF accounts and tax are completed on a timely basis. This is all taken care of with a debit order, so it will be deducted from your bank account on a monthly basis.
With Superannuation Warehouse, you are not committed to a minimum time, and there’s no penalty fee if you want to move your Fund to another accountant/administrator. We pride ourselves on providing an excellent service at a fair price and we are confident that you will remain with us as a client. However, if you should decide to use another provider, no worries, we have all the updated soft and hard copies of your files ready to hand over directly to your new accountant.
We’ll contact your previous accountants with an ethical letter advising them of our appointment for your SMSF. We’ll appoint ourselves with the Tax Office as the Tax Agent of your SMSF. Note that we always leave your address on the ATO records so you receive all paper correspondence from the Tax Office. If we don’t receive a copy of the Trust Deed, previous accounts and audit report and tax return from your previous accountant, we’ll ask you for a copy.
We need the following 5 documents :
- Trust Deed
- Minutes of Meetings
- Investment Strategy
- Trustee Declaration
- Consent to act as Trustee and Member Application
We’ll contact your previous accountant and request copies of these documents. If they don’t have them, we’ll ask you for copies. If you don’t have them either, you can download copies, sign them and send copies to us. We prefer scanned copies but, if it’s more convenient for you, you can post them to us. Free downloads of these documents and other useful SMSF documentation is available from the DOWNLOADS page. If you send us a paper copy, we will scan it, save it on our system, and post the paper copy back to you.