An SMSF must report events that affect a member's transfer balance account.
Common event types include a commencement of a retirement phase income stream, and a member commutation. Refer to Event Types for Transfer Balance Account Reporting for more information.
When you need to report
Until 30 June 2023
Due dates for transfer balance event reporting are determined by the total super balance (TSB) of SMSF's members, unless they need to report sooner. Refer to the ATO article, for when events must be reported sooner than the suggested due date.
| Scenario | Reporting due date |
|---|---|
| Any member of the fund has a TSB of $1 million or more on 30 June the year before the first members started their retirement phase income stream. | Quarterly basis (within 28 days after the end of the quarter in which the event occurs). |
| If all members of the fund have a TSB of less than $1 million. | Annual basis (report events at the same time as the SMSF Annual Return). |
Once the fund has determined whether it is required to report on a quarterly or annual basis, the ATO has indicated that it is locked in for the life of the SMSF
From 1 July 2023
All SMSFs will be required to report quarterly, even if the members total super balance is less than $1 million. This means you must report the event that affects the members transfer balance within 28 days after the end of the quarter in which the event occurs.
All unreported events that occurred before 30 September 2023 must be reported by 28 October 2023. This means you cannot report at the same time as your SMSF annual return (SAR) for the 2022–23 income year.
Refer to the following ATO Article, for more information.
Simple Fund 360 will accurately display the due dates of all events within the Transfer Balance Dashboard and TBAR Management screens, accounting for this change.