Alerts to protect SMSFs from fraud
SMSF trustees are set to receive alerts from the ATO when changes are made to information relevant to the SMSF.
A new system alerting SMSF trustees of changes made to their SMSF will roll out this month. The ATO will alert trustees by text and/or email when changes are made to bank details, electronic service address of the fund, the authorised contact and members.
Trustees need to notify the ATO within 28 days of key changes to the fund including a change in trustees, directors of the corporate trustee, members, contact details, address and fund status.
Unsure if your details are up-to-date or accurate? Contact us on 02 9957 4033 for assistance.
This article is provided for information purposes only and correct at the time of publication. It should not be used in place of advice from your accountant. Please contact us on 02 9957 4033 to discuss your specific circumstances.