People use super fund lookup to access publicly available information about all super funds that have an Australian Business Number (ABN). Thanks to these information, you can identify the status of a fund that is regulated by the Australian Prudential Regulation Authority and ATO. APRA uses the super fund lookup to ensure a self-managed super fund is eligible to receive transfers or rollovers.
Employers especially use super fund lookup to find out whether employer contributions qualify as superannuation guarantee payments. The Australian Business Number includes information like name of the entity, business or trade names of that specific entity, ABN status or a postcode of the state where the business has been established. To better understand the meaning of the super fund lookup, read the article below.
- Super fund lookup contains information of all registered funds that have an active ABN. This means that the funds that do not have an ABN, or have been activated before the introduction of the ABN, will not be listed on the super fund lookup.
- Funds that have canceled ABN are no longer active, so it is not recommended to use them for rollovers without getting in touch with the regulator. If however you receive a rollover request for a smsf with an inactive ABN, contact the ATO representative right away.
- APRA regulates only those funds that have chosen to be regulated by this authority. Where as SMSF is regulated by the ATO. Beside the regulated funds, you will find the ones that have not been regulated by either ATO or APRA and are registered as non-regulated. These funds are not complying unless they are free from regulations.
- Retirement saving accounts don’t have an ABN, therefore will not appear on the super fund lookup list. In order to legally accept transfers from other funds, it must go through an Approved Deposit-taking institution(ADI) such as banks, credit unions, or other financial institutions that have an ABN and are listed on the super fund lookup list.
- Self-managed super funds are regulated by the ATO. All entities are previously checked before included on the super fund lookup list. This procedure takes up to seven days. Other funds that are not regulated by ATO cannot perform transfers or rollovers until they become regulated.
- There are three different types of smsf. Two of these funds are regulated by ATO. One is regarded as non-complying smsf created for not residents of Australia, or for those that have been issued a notice of non-compliance, since not in compliance with the Superannuation Industry (Supervision) Act 1993 regulations.
- Before you actually proceed with a transfer or a rollover request, you must check whether the fund is regulated and listed on the super fund lookup and provide proof of identity. Verify whether the fund has been regulated by ATO and has not been removed due to lodging annual returns.
