Existing SMSF Take On

If you have an existing SMSF and you want to move it over to Superannuation Warehouse, then we are happy to take on your Fund even if there are any outstanding Tax Returns to be lodged. We can seamlessly take over the administration, accounting and taxation functions of your existing Fund.

How to Transfer your Fund to Superannuation Warehouse

The steps to transferring a Fund over to Superannuation Warehouse are as follows:

  1. Simply send us an email instruction requesting we take-on your existing SMSF. Please include the name of your SMSF, the Tax File Number, the Australian Business Number and the name of the Fund’s existing accountant or administrator.
  2. We will then send you an invoice for the process involved. We charge a fixed fee of $475 to take on an existing Fund. Please note that we will also charge the full accounting fee for any Financial Years outstanding. See below for more information on payments and fees involved with SMSF take-on.
  3. Superannuation Warehouse will contact the current accountant or administrator and will request your SMSF files and records to be transferred to us with an ethical letter.
  4. We conduct a review of your file for completeness to ensure all permanent files are executed correctly and all lodgements are up to date.
  5. We appoint Superannuation Warehouse as your Fund’s Tax Agent.

Your obligation: As Trustee, your assistance in this process is greatly appreciated. You will need to supply us with all your Fund’s records in Excel or a similar electronic file format. This can also be scanned copies of the Funds bank statements. Our preference is to import all your SMSF transactions electronically and perform an effective and efficient service. Items not available in Excel can be scanned and emailed. Alternatively, you can post the supporting documents to us via snail mail.

Appoint a Tax Agent for your Fund

Effective from 13 November 2023, the ATO has changed the process of how agents can access their client’s information with the ATO and a nomination is now required to be completed.

The ATO has provided a summary of the steps on how to nominate a tax agent. Click on the button below for more details:

Client-to-agent linking steps

Our Commitment

We strive to keep things as paperless as possible; nevertheless, rest assured, we always keep a hard copy (paper) file containing a summary of your SMSF.

Once your SMSF has been transferred to Superannuation Warehouse you can choose between our $60 or $100 plans. These are monthly fixed fees, irrespective of the number of transactions in the SMSF. We will send you a direct debit form to complete so that the monthly fee can be deducted directly from your SMSF bank account.

The monthly fee includes the costs of the accounting, tax and audit. We will appoint an independent auditor to take care of your SMSF. Your SMSF is charged nothing for the auditor as this service is covered by your fixed monthly fee.

Fees Involved with SMSF Take-On

We then charge monthly from 31 July onwards, $60 or $100, depending on the plan you choose. So if we take over an SMSF in November we will charge for 4 months initially and then regularly from November onwards. We will ensure that your SMSF accounts and tax are completed on a timely basis. This is all taken care of with a debit order, so it will be deducted from your bank account on a monthly basis.
Note that we charge a one-off fee of $475 for an SMSF take-on. This includes the cost of obtaining your Fund records. If any previous years’ accounts, tax returns and audits are outstanding, we will charge $1,200 for each year that needs to be completed.

For more info about how we do the take-on process, please watch the video below.

An alternative way to transfer your SMSF to Superannuation Warehouse is simply to phone or email us.

Questions & Answers – click on the question to reveal the answer

Q: How much will it cost me if Superannuation Warehouse takes over my SMSF in November?

Apart from the take-on fee ($475) we charge $1200 to complete accounts and tax returns from previous Financial years. We then charge monthly from 31 July onwards, $60 or $100, depending on the plan you choose. So if we take over an SMSF in November we will charge for 4 months initially and then regularly from November onwards. We will ensure that your SMSF accounts and tax are completed on a timely basis. This is all taken care of with a debit order, so it will be deducted from your bank account on a monthly basis.

Q: Is there a minimum amount of time (e.g. 12 or 24 months) that must be committed to using Superannuation Warehouse’s administration services?

With Superannuation Warehouse, you are not committed to a minimum time, and there’s no penalty fee if you want to move your Fund to another accountant/administrator. We pride ourselves on providing an excellent service at a fair price and we are confident that you will remain with us as a client. However, if you should decide to use another provider, no worries, we have all the updated soft and hard copies of your files ready to hand over directly to your new accountant.

Q: What does the take-on fee cover?

We’ll contact your previous accountants with an ethical letter advising them of our appointment for your SMSF. We’ll appoint ourselves with the Tax Office as the Tax Agent of your SMSF. Note that we always leave your address on the ATO records so you receive all paper correspondence from the Tax Office. If we don’t receive a copy of the Trust Deed, previous accounts and audit report and tax return from your previous accountant, we’ll ask you for a copy.

Q: What documents should I send to Superannuation Warehouse?

We need the following 5 documents :

  1. Trust Deed
  2. Minutes of Meetings
  3. Investment Strategy
  4. Trustee Declaration
  5. Consent to act as Trustee and Member Application

We’ll contact your previous accountant and request copies of these documents. If they don’t have them, we’ll ask you for copies. If you don’t have them either, you can download copies, sign them and send copies to us. We prefer scanned copies but, if it’s more convenient for you, you can post them to us. Free downloads of these documents and other useful SMSF documentation is available from the downloads page. If you send us a paper copy, we will scan it, save it on our system, and post the paper copy back to you.

Have Questions?
Ask Superannuation Warehouse experts

Contact Us