Keywords: new member, trustee consent and member application
To add a new member to a Self-Managed Superannuation Fund (SMSF), you will need to complete the "Trustee Consent and Member Application" document form.
The onus is upon the Trustee of the Fund to ensure that the rules of the Fund are followed.
The Trustee will consider the member application subject to the SMSF Trust Deed's provisions and superannuation laws.
To complete the form:
1. In the Fund Details tab, fill in
- the name of the respective Fund,
- its ABN (optional),
- the date from which the change will take effect (optional), and
- Trustee details.
2. In the New Member/Trustee Details tab, enter in the new member's/members' details:
When you add a new member to a Self-Managed Superannuation Fund (SMSF), it is a legal requirement that the new member is appointed also as an individual trustee or director of a corporate trustee.
To appoint the new member as an individual trustee, you may utilise our "Change of Trustee" document form (How to change the Trustee of an SMSF?).
Alternatively, to appoint the new member as a Director of the Corporate Trustee, this interview form should only be utilised after, and as soon as possible following, the member having been appointed by the corporate trustee as a director. ASIC must be notified within 28 days of that appointment.
3. If you are not 100% confident in your answers to this interview form or you are not engaging your own solicitor for their review, please consider adding on legal review to your order: Client Legal Review FAQs
4. If you would like to add on slimline or binder printing, make your selection from the Presentation tab:
The document pack comprises of:
The Consent to Act as Trustee and Member Application (which includes the consent to act as trustee/director of the fund, application for membership, minutes of meeting, notice to new member of approval of admission to membership);
The ATO Change of details for superannuation entities form (NAT 3036);
The ATO Trustee Declaration Form (NAT 71089).
Note: As always, refer to the rules of your Fund when making any changes and consider legal review by a solicitor where you are not comfortable with understanding/interpreting the Deed or filling out our interview forms. If you would like to be referred to our legal services provider for a quote on entering into a formal engagement for advice, contact us at firstname.lastname@example.org
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