How do I Add or Remove Trustees?

Once your SMSF is established and the Trustees are appointed there can be circumstances where you may need to add or remove the Trustees. It is important to note that there can be some expenses payable if you add or remove trustees, so it is best to be sure before commencing that the people you have in your SMSF are committed to your SMSF. It is easy to make these changes but it is time consuming and can be costly depending on the number of assets that you own.  If you are in any doubt about being in an SMSF with someone, it is best to go it alone and use a corporate trustee from the start, it will save you time and money in the longer term.

Supervision will provide you a form to add or remove trustees. Depending on the circumstances of your SMSF, there may be additional costs to administration fees, like off market transfer forms, which have a fixed cost per change of name.