Whether you're starting to think about retirement or simply don't have the time to manage paperwork anymore, there are a number of reasons why you may decide to wind up your self-managed super fund (SMSF) and transfer your money to a QSuper Accumulation account or Income account.
How to close your SMSF
If you want to close down an SMSF, you must let the Australian Taxation Office (ATO) know within 28 days. Winding up an SMSF can have an impact on your retirement savings so it's important to seek financial advice and plan an exit strategy before you make the decision to leave. Keep in mind that once an SMSF has been wound up, it can't be reactivated. For detailed information about winding up your fund, go to the ATO website.
Deal with assets
When closing an SMSF, you need to make sure you dispose or sell off all the assets of the fund, bearing in mind you may be required to pay capital gains tax (CGT) on any earnings.
Arrange an audit
You must arrange an audit to be completed by an approved SMSF auditor and finish any outstanding paperwork or reporting before you can lodge your final SMSF annual return.
Lodge SMSF annual return
Once your audit has been completed, you need to lodge an SMSF annual return. This is used to report any super regulatory information, member contributions, and pay the SMSF supervisory levy.
Rolling your money to us
Once your SMSF has been wound up, transferring your benefits to a QSuper account is easy.
Send it to us
If you email our Consolidate with QSuper form (pdf) to us, your transfer will occur electronically. You can also post it to us, but this will take longer.
We’ll send you a letter once the money has been received to your QSuper account, and you’ll also be able to see this when you log in to Member Online.
A focus on strong long-term returns
No matter how involved you want to be when investing your super, we focus on delivering strong long-term returns and investment options that are tailored to your needs.
If you still want to take control over your investments, our Self Invest option lets you decide how you invest your super without having to worry about the administration, compliance and reporting obligations you would usually take care of yourself with an SMSF.
Investment options
Pay yourself a regular income
If you’ve retired, our award-winning Retirement Income account can turn your retirement savings into a regular income. Enjoy life after work, with tax-free investment returns and withdrawals after age 60.
And our award-winning Lifetime Pension is designed to work with it, providing tax-free income payments for life. See if you're eligible.
Find out why thousands of Australians have partnered with us in retirement.
Why retire with QSuper
Why transfer my money to a QSuper Accumulation account?
Profit for members
As part of a fund that works for members, not shareholders, we work in members’ best interests.
Award-winning value
You get the best value for money with our
award-winning products.
Super you can trust
We have 140 years of combined experience helping members.
Committed to lower fees
We're committed to returning profits to members as lower fees and better services.
More information
Contact us for more information about rolling over your SMSF to us.
Contact us