SMSF Establishment

If you’ve found yourself wondering, “how do I set up a self managed super fund?” we can help. If you are ready for SMSF establishment, SUPERVISION SMSF will attend to all aspects of the setup process for you. The process of how to set up a self managed super fund is detailed below.

Step 1: Complete Form

Complete our online application form

To establish a SMSF you simply need to visit our online application form and submit your application over the internet.  Our online application can be found here and will help in teaching you how to set up a self managed super fund.

Timeframe:  You can submit an online application in as little as 10 minutes.

Step 2: Receive SMSF Establishment Package

SUPERVISION SMSF mails an “SMSF Establishment Package” to you, teaching you how to start a SMSF.

On submitting your online application, SUPERVISION SMSF will mail to you all the required documentation necessary for SMSF establishment.  Importantly the “SMSF Establishment Package” documentation is pre-populated with your information, meaning there is absolutely no requirement by you to complete any documentation.  The “SMSF Establishment Package” includes:

  • The SMSF Trust Deed
  • Documentation to appoint Trustees
  • Trustee Declarations
  • Lodgement of an Election for your SMSF to become a Regulated SMSF
  • ATO Application to obtain a Tax File Number for your SMSF
  • ATO Application to obtain an Australian Business Number for your SMSF
  • Sample Investment Strategy that you can adopt for your SMSF or modify if required
  • Resolutions and minutes to acknowledge the establishment of your SMSF
  • Application to establish a Transactional Account for Banking
  • Application to establish a CMC Markets Broker Account
  • Application to establish a AMM Term Deposit Platform Account

Timeframe:  An “SMSF Establishment Package” will be mailed to you in 1-2 business days after submitting the online application.

Step 3: Review, Sign & Return your SMSF Establishment Documents

Review the SMSF Establishment documents sent to you

Please review the documentation you receive carefully. Should you require assistance or clarification on how to set up a self managed super fund, please call our office to discuss. Once you are satisfied with the SMSF establishment documentation please sign where indicated and send back.

Timeframe: We request that you take the time to review the documentation in detail upon receipt. The team at Supervision will be pleased to discuss any questions that you may have.

Sign and Return the SMSF Establishment pack

The first package includes all of the documents you need to sign and send back. The only additional information you are required to supply is your certified identification (100 point check). Instructions on how to comply and how to start a self managed super fund are included in the package.
Once you have signed and sent back this package we will commence your SMSF establishment.
Once your account has been established by Supervision we do not require that you sign up for an agreed period of time. You are free to leave at any time and for any reason. If you do terminate our service prior to completing 1 year annual compliance fees, the annual minimum package fee will apply. If you terminate the services of Supervision after paying 1 year annual compliance fee, no additional fees will apply. Supervision do not offer refunds for part paid years.

Timeframe: Once we receive your establishment documentation it takes 4 weeks to establish your SMSF.

Step 4: SMSF Established

Supervision SMSF establishes your SMSF bank Account, Share Trading platform and Term Deposit Platform Accounts. Supervision will invite you to ‘Super Gateway’, your SMSF portal where you will find out how to start SMSF management

After Supervision has submitted your account applications to our third party suppliers and they have been accepted, you will be sent email confirmation of account establishment directly from these providers. You will be able to access the provider’s websites through our SMSF portal where you will find out how to start SMSF management.

Timeframe: Please allow 1 to 2 weeks from the date of sending back the documents for all providers to send you login details.

Step 5: Final SMSF Establishment Package

Confirmation of SMSF Establishment

Once we receive your ATO registration details we will send your second package.

The second package contains all of the documents that you should keep for your records.

It will include:

  • A copy of your signed Trust deed
  • A copy of your ABN & TFN
  • Compliance Letters for Roll Overs & employer Contributions
  • Copy of your investment Strategy
  • Your SMSF details page

Timeframe: The Final SMSF establishment package will be sent to you 4 weeks from the date you return the signed SMSF documentation to our office. We will send this SMSF establishment package electronically in PDF format. 

Step 6: Complete Roll Overs & Set Up Employer Contributions

Rollover of your Existing Super Benefit to your SMSF Bank Account

Once your SMSF has been established you can apply to your current Superfund to transfer your existing Super Benefit to your new SMSF.  You cannot apply to Rollover your existing Super Benefit until SUPERVISION SMSF has mailed to you the “Final SMSF Establishment Package” which will include all your SMSF setup details including the ABN.

Contributions

Supervision will provide you with the information required to direct your superannuation contributions to your SMSF. Supervision will provide all of the information required to give to your employer so they can arrange employer contributions to your SMSF.

Timeframe:  On applying to Rollover your Super Benefit your existing Superfund is legally obliged to transfer your Super Benefit to your SMSF within 28 days from your application date to them.  This can happen sooner depending on the efficiency of your current Superfund.

Step 7: Invest your Super

Invest your Super

Once you have rolled over your Super Benefit, you can begin investing.  For details on the Investments Allowed under the SUPERVISION SMSF menu click here.

Timeframe:  You can expect to begin investing your current Super Benefit in approximately 5-8 weeks after applying to establish a SMSF with SUPERVISION SMSF.

Talk with an SMSF Expert

We can match you with an SMSF Expert who can answer all your questions. Call us on 1300 693 863 or use the button to make an appointment.