#1 fund for weathering market ups and downs3
SuperRatings' Pension of the Year three years in a row4
Due to required maintenance, QSuper Member Online will be unavailable from 9pm Friday, 22nd January to 9am Saturday, 23rd January 2021. We apologise for any inconvenience caused.
How to wind up your self-managed super fund (SMSF)
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 super fund like QSuper.
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.
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.
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.
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.
Complete a Rollover benefits statement (NAT70944) form to transfer your SMSF money into a super fund. If you've reached the age you can access your super, you could also choose to receive the money directly.
Once your SMSF has been wound up, transferring your benefits to QSuper is easy.
If you aren’t already a QSuper member, it takes less than five minutes to sign up online.
Complete the Rollover benefits statement (NAT70944) form from the ATO website. Some important QSuper details you might need when filling out the form.
Post the form with a cheque payable to QSuper for the rollover amount being transferred to us at:
GPO Box 200
Brisbane QLD 4001
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.
No matter how involved you want to be in investing your super, we aim to provide strong, long-term performance 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.
If you’ve retired, our award-winning Retirement Income account can turn your retirement savings into a regular income. Enjoy life after work while taking advantage of tax-free investment returns and withdrawals after age 60. As your money stays invested, your savings could continue to grow.
Find out why thousands of Australians have partnered with QSuper in retirement.
Retirement Income account
Contact us for more information about rolling over your SMSF to QSuper.
1. Roy Morgan, Superannuation Satisfaction: Satisfaction with Financial Performance of Superannuation in Australia. 6 months to April 2019, n=16,649, Base: Australians aged 14+ with work based or personal Superannuation. 15 largest super funds based on customer numbers.