Consequences of late SMSF annual returns

The ATO is taking a firm stance on lodgement duties for SMSF trustees, introducing a new SMSF status if obligations have not been met.

SMSF’s that are overdue by two weeks on any annual returns and haven’t requested a deferral, will now have their status on Super Fund Lookup (SFLU) changed to ‘Regulation details removed’.

Introduced on 1 October 2019, the ATO is taking this approach where non-lodgement, combined with disengagement, indicates that the fund’s retirement savings could be at risk. This status will remain until any overdue lodgements have been brought up to date.

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