How to wind up your SMSF

If you want to close down an SMSF, you must let the Australian Taxation Office (ATO) know within 28 days. And once you've closed your SMSF, you can't reactivate it.

It can also have an impact on your retirement savings, so considering seeking financial advice and plan an exit strategy before you make any decisions.

Below is a simplified process of what to expect. For detailed information about winding up your fund, go to the ATO website.

1. Deal with assets

When closing an SMSF, you need to make sure you get rid of or sell off all the assets of the fund. Keep in mind you may need to pay capital gains tax (CGT) on any earnings

2. 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.

3. Lodge SMSF annual return

Once your audit's done, 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.

4. Transfer your super

You'll need to transfer the money to a super fund. If you're at your access age (age 60) and retired, you could also get the money directly.

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Why do people wind up SMSFs?

There are a few reasons why an SMSF winds up, including:

  • One or more members are thinking about retiring
  • There's no time to manage paperwork anymore
  • Illness or death of a member of the SMSF
  • Too expensive to continue running
  • Didn't make enough investment returns.

Why should I consider transferring my money to a super fund?

No more paperwork

We take care of all the administration, legal, compliance, and reporting obligations.

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Less stress

Our range of investment options and retirement products support you in every stage of life.

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Peace of mind

We offer affordable insurance protection for times when life doesn't go to plan.

You've closed your SMSF. Now what?

Your super is one of the most important investments in your life, and how you invest now could have a big difference when you retire. Once you've wound up your SMSF, consider rolling it to a QSuper account.

Check your eligibility to become a QSuper account holder. Once you've done this, follow the steps below.

Qsuper and ART logo
I'm eligible to become a QSuper account holder
No.1
Open an account

Open a QSuper account. Already a member? Log into QSuper Member Online.

No.2
Set up your transfer

Use our online tool to quickly search for your super with other super funds (like SMSFs) and the Australian Taxation Office (ATO). You can also fill in and send us this this QSuper rollover form, if you prefer.

No.3
Wait while we process

We’ll let you know once the money is in your QSuper account.

ART logo
I'm not eligible but I want to join Australian Retirement Trust (ART)
No.1
Open an account

It only takes 3 minutes to open an account with ART online.

No.2
Set up your transfer

Set up your transfer. If you don't already have one, set up an electronic service address (ESA) and SuperStream. (We can't accept BPAY or cheque from an SMSF.)

No.3
Send us your super

Use the payment reference number (PRN) and our BSB/account number from SuperStream to send your super to us by online banking transfer.

No.4
Wait while we process

We'll let you know once the money is in your ART account.

Fund name

Australian Retirement Trust

ABN

(Australian business number)

60 905 115 063

USI

(Unique superannuation identifier)

QSuper logo

QSuper accounts

60905115063001

Use this for making payments or transferring money into QSuper accounts (except if you’re an employer with QSuper as your default super product).

Australian Retirement Trust logo

Super Savings accounts

60905115063003

Use this number for payments to Australian Retirement Trust Super Savings accounts.


QSuper logo

QSuper accounts (participating employer)

60905115063002

Use this if you're an employer with QSuper as your default product or a Queensland Government employer.

Member number

You can find your client number on most emails from us or your annual statement, or in Member Online or our app.

Phone

Fund address

GPO Box 2924
Brisbane QLD 4001

Still not sure?

Contact us for more information about winding up and transferring your self-managed super fund (SMSF).

Our contact details