Keywords: minor member, under 18 member, underage member, established SMSF new member
Question
Does the SMSF Member Application Form allow you to add a member for members who is under 18 years of age?
Answer
Yes, the Trustee Consent and Member Application form will update the form and documents accordingly after entering the Minor's Date of Birth.
IMPORTANT: You should consider the order of signing if you are appointing a new trustee and admitting a new member to the Fund e.g. if you are appointing a new trustee or appointing a new director of the corporate trustee first, their details should be inserted in the “Trustee” tab as if they are a trustee when they apply to be admitted to the Fund. If you are adding a minor member (under age 18) please complete a separate interview form, and if multiple minors a separate form for each. This is to ensure the ATO Change of Details for Superannuation Entities form doesn’t contain duplicate information for parent/guardian.
Note 1: If the guardian, who will act as trustee on behalf of the minor, is not an existing member/trustee of the Fund you will need to use our "Change of Trustee" document form to appoint that guardian as a trustee of the Fund. Refer to this article for instructions: How to change Trustee of an SMSF?
Note 2: Once the minor turns 18 there is also an obligation to add that individual as a trustee/director of the corporate trustee. This can be done via the 484 process.
Note 3: A parent/guardian will need to sign the member application on the minor's behalf and provide proof of parent or legal guardianship to the trustee of the Fund with the signed and dated application form. This will need to be completed outside of the NowInfinity platform.
Note 4: The Trustees should review and attend to any relevant changes to the ATO form.
Further information
Adding a Member to a Self Managed Superannuation Fund (SMSF)
Adding a New Member Under 18 (Minor) when Establishing a New SMSF
Disclaimer: You acknowledge and agree that our Services and Materials do not constitute or contain personal or general advice for the purpose of the Corporations Act 2001 (Cth) and that we, our employees and advisers do not offer any legal, accounting, tax or other professional advice or services in connection with the provision of our Services and any Materials.