Your annual SMSF obligations

Have you met all your SMSF obligations for the year? Make sure you do so before you lodge your Self Managed Super Fund’s annual return.

The Australian Tax Office shares a series of great videos that help you better understand how Self Managed Super Funds work. Below we share with you their video titled “Annual SMSF obligations” and a transcript below.

Transcript of ATO video



As a self managed super fund trustee you have important obligations to complete before you can lodge your fund’s annual return. You should allow plenty of time to meet these obligations because if lodgement is late, financial penalties will be imposed on your fund. So what are these obligations? Determine the market value of assets at 30 June. There are ‘Valuation Guidelines’ on the ATO website. You may need an actuarial certificate if for example a fund member has retired and is receiving payments from the fund. Most accountants need several weeks to prepare your fund’s accounts. This must be done before the fund’s annual audit so contact your accountant as early as possible. You need to appoint your auditor at least 45 days before the fund’s annual return is due to be lodged. Self Managed Super Fund auditors can be very busy as well so don’t wait till the last minute to appoint one. Make sure your auditor is registered with the Australian Securities and Investments Commission by checking the ASIC website. Lodgement due dates start from 31 Oct – so check your fund’s due date on the ATO website or ask your tax agent or accountant. You also need to review your investment strategy regularly so why not do it around this time as well. It’s a good idea to keep on top of record keeping and administration tasks during the year. If you do this, you will find it much easier to meet your annual obligations. For more information check out our other Self Managed Super Fund videos or visit the ATO website at

The Independent Financial Advisor

About The Independent Financial Advisor

My name is Tim Mackay and I am The Independent Financial Advisor. I advise pre-retirees and retirees on how to manage their family's wealth and to fund their dream retirement.

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