For any transaction that affects the Transfer Balance Account, you will need to select one of the Event Types that is relevant, for example, when starting a pension, processing a commutation and paying a lump sum payment from 1 July 2017.
The Transfer Balance Dashboard helps you track the net amounts that have been transferred into transfer balance account for each member. Users also have the ability to add manual adjustments via the dashboard where required.
The following is a list of the Event Types that need to be reported on the Transfer Balance Account Report.
Select the event type that is relevant to the transaction being entered.
Debit or Credit?
- Credit: Events that increase a member's transfer balance account are recorded as a credit.
- Debit: Events that decrease a member's transfer balance account are recorded as a debit.
| Event Code | Event Name | Description |
|---|---|---|
| SIS | Superannuation income stream | A superannuation income stream in the retirement phase. Generally a right to receive a periodic payment from a superannuation interest, for example, a pension or annuity. This event type should also be reported for a reversionary income stream that commenced prior to 1 July 2016. |
| LRB | Limited Recourse Borrowing | Limited recourse borrowing arrangement the transfer balance cap credit arising from the repayment of an LRBA. |
| IRS | Reversionary income stream | A superannuation income stream that automatically reverts to a nominated beneficiary on the death of its current recipient, where the income stream commenced on or after 1 July 2016. |
| ICB | Child death benefit income stream |
A dependent child that receives a death benefit income stream because of the death of a parent. This event type should also be reported for a reversionary child death benefit income stream that commenced prior to 1 July 2016. |
| ICR | Reversionary child death benefit income stream |
A superannuation income stream that automatically reverts to a dependent child because of the death of a parent, where the income stream commenced on or after 1 July 2016. |
| Note: If the Reporting event type field is ICB or ICR, then the 3rd party surname or family name must be entered. | ||
| MCO | Member commutation | The process of ceasing, in whole or in part, a superannuation income stream and converting it into a superannuation lump sum. In all circumstances with exception to a commissioner's commutation authority. The superannuation lump sum that arises from a commutation may be cashed out of the superannuation system or can be retained within the superannuation system subject to the cashing rules for superannuation death benefits. |
| CC1 | Commutation Authority | The amount requested has been commuted in full. |
| CC2 | Commutation Authority | Unable to commute in full due to insufficient fund. This includes partial commutations. |
| Note: If the Reporting event type field is CC1 or CC2, you must also answer the question Was the commutation paid directly to the member? by selecting Yes or No. | ||
| CC3 | Commutation Authority |
Unable to commute due to the member is deceased. |
| CC4 | Commutation Authority | Unable to commute due to a capped defined benefit income stream. As set out at in Member account type field. |
| Note: Commutation Authority is a notice the Commissioner issues to a superannuation income stream provider requiring the provider to commute an amount of a specified super income stream. | ||
| SSP | Personal Injury (Structured Settlement) | Injury payments that a member contributes while notifying the provider that they are to be excluded from the non-concessional contributions cap. |
| STO | Income Stream Not in Retirement Phase | Income stream stops being in the retirement phase. |
| APV | Accumulation Phase Value | This is the value of the accumulation interest that would become payable if the individual voluntarily caused the interest to cease at 30 June of the relevant financial year. |
| RPV | Retirement Phase Value |
This is the value of the retirement interest that would become payable if the individual voluntarily caused the interest to cease at 30 June of the relevant financial year. |
| NTC | Notational Taxed Contributions | Uncapped Notional taxed contributions amount. |