Article:

Super alert: The ATO is enhancing its SuperStream process

28 September 2021

Yvette Cree, Manager, Team Super |

From 1 October 2021, Self-Managed Superannuation Funds (SMSF) will be required to utilise an Australian Taxation Office (ATO) electronic service (SMSF verification service) in order to complete a rollover of superannuation monies between a retail or industry superannuation fund (an APRA Fund) and an SMSF.

In addition to streamlining the process of moving superannuation monies between superannuation funds, the new changes will also allow SMSF trustees to receive electronic data for release authorities, such as:

  • First Homeowner Super Saver Scheme
  • Excess concessional and non-concessional contributions
  • Excess non-concessional contribution tax
  • Division 293.

Getting Ready

Whilst most of the heavy lifting in relation to these changes has been done by SMSF software providers, there are some minor checks SMSF trustees will need to complete before 1 October 2021. These include checking the SMSF banking details on file with the ATO are current, ensuring the SMSF has an Electronic Service Address (ESA) and being aware of the SMSF Unique Superannuation Identifier (USI), which is the SMSF ABN. 

We have reviewed our SMSF clients’ data to ensure we will be able to report via SuperStream from 1 October.  

How it works

For whole member balance rollovers (i.e. not partial rollovers), members will be able to request a rollover either via transferring fund or the receiving fund. Members can also initiate the transfer by logging into their MyGov account. The request is made to the ATO using an Electronic Portability Form (EPF), which the ATO verifies and passes to the transferring Fund. Alternatively, members are still able to initiate the rollover request using the existing ATO approved form (NAT 75359).

For partial rollovers and in-specie rollovers, we will assist members in contacting their APRA fund and will adopt their standard process, as these types of rollovers are not yet subject to the SuperStream requirements.

Next steps

Whilst the implementation of these new SuperStream requirements will provide more availability of information and efficiencies for transfers, it is important for trustees to speak to their advisers frequently in order to ensure the correct process occurs. Additionally, providing information to your adviser on a timely basis will allow reconciliations to be finalised quickly, and within the timeframes provided by the ATO.

If you are looking to make a rollover into your SMSF or have any questions, we encourage you to contact your BDO adviser as soon as possible.


The information contained in this publication is purely factual in nature and does not take into account your personal objectives, financial situation or needs. It is provided as an information service only and does not constitute financial product or other professional advice and should not be relied upon as such. Before making any investment or financial decisions you should consider your particular objectives, and financial circumstance or needs. Where information relates to a particular financial product you should obtain and consider the relevant Product Disclosure Statement and obtain advice from a financial adviser before making any decision. If you do require financial advice, please contact the relevant BDO member firms in Australia who will be able to assist you in their capacity as an Australian Financial Services licensee. BDO Australia Ltd and each BDO member firm in Australia, their partners and/or directors, employees and agents do not give any warranty as to the accuracy, reliability or completeness of information contained in this publication nor do they accept or assume any liability or duty of care for any loss arising from any action taken or not taken by anyone in reliance on the information in this publication or for any decision based on it, except in so far as any liability under statute cannot be excluded.

BDO refers to one or more members of a national association of separate entities who are all members of BDO Australia Limited, an Australian company limited by Guarantee. BDO Australia Ltd and its members are independent member firms of BDO International Ltd, a UK company limited by guarantee. Each BDO member firm in Australia is a separate legal entity and has no liability for another entity’s acts and omissions. Liability limited by a scheme approved under Professional Standards Legislation.

BDO is the brand name for the BDO network and for each of the BDO member firms.

© 2021 BDO Australia Ltd. All rights reserved.