The ATO has advised that from early March 2019, the timeframe for new self-managed super funds (SMSFs) to become ‘Complying’ on Super Fund Lookup (SFLU) will be shorter.
Several days after registration, you will now see the fund appear on SFLU as ‘Registered – status not determined’. A few days later, the notice of compliance will issue and change the fund’s status to ‘Complying’.
The shorter timeframe removes confusion about the status of the fund, or its ability to accept employer super guarantee contributions or rollovers from another fund. Previously the change in status occurred when the fund lodged its first SMSF annual return.
This change will also impact SMSFs with a current status of ‘Registered – status not determined’ which have not lodged their first SMSF annual return.
Visit the ATO website for further information, including how you can check the registration status of a fund.