The Step By Step Administration Guide For SMSF Trustees
The greatest amount of administrative duties and regulatory compliance placed on trustees of an SMSF relates to making payments. The regulatory compliance comes from the restrictions placed on what trustees can invest in and when payments can be made to members.
The administration and documentation requirements mainly come from the regulations contained in the SIS legislation. It is these regulations that require trustees to communicate with themselves to prove that they have met all of their legislative and compliance duties.
This section will build over time depending on what members want. Currently this section deals with administration steps for the following:
- Investment strategy
- Transition to retirement pensions
- Lump sum Payments
- Account based pensions
- Changing Trustees of an SMSF
- When should an SMSF be wound up
- How to wind up an SMSF