SMSF Establishment

If you’ve found yourself wondering, “how do I set up a self managed super fund?” please read the step by step guide below. If you are ready to establish your SMSF, SUPERVISION SMSF are here to guide you through the SMSF process.

Step 1. Complete our online application form

To establish a SMSF you simply need to complete our online application form.  If you need help while completing the form, please don’t hesitate to contact us, we can guide you step by step. 08 9367 9655 or 1300 693 863.  An online application is the only way to apply to establish an SMSF with Supervision and it will take less time to complete than any paper forms.

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

Please Note: Supervision will commence your SMSF establishment after receiving payment for establishment. A link to our payment gateway will be provided after you submit your application. Credit cards are available.

If you are interstate or in the country we will send your documents in the post.  If you live close to our offices you will receive an invitation to come in and sign.  Coming into our offices to sign will make the process easier and quicker, so if you can make it in, take advantage of our offer.  Please see below the difference in the establishment process.

Our Offices

Step 2: Come into our Office and Sign

Coming into our offices to sign your documents is going to answer a lot of questions for you.  Meeting face to face to discuss the documents that are being signed and how it all works is time well spent.  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
  • Corporate Trustee Documents
  • Application to establish a Transaction Account for Banking
  • Application to establish a CMC Markets Broker Account
  • Application to establish a AMM Term Deposit Platform Account

Timeframe:  We will call to book a meeting within 24-48 hours of the application being completed.  Your documents will be ready for that meeting. 

Step 3: Review & Sign Documents

You can review and sign documents at the same time whilst in our offices.  Reap the benefit of our experience in SMSF and ask us directly how the processes work.

Once you are satisfied with the SMSF establishment documentation we can help you to sign in the right place and talk through any questions you may have about SMSF or Superannuation in general.  All members of your SMSF should be present at that meeting.

This office signing increases the speed of completion and takes out postage delays.

Timeframe: You will be able to review and sign in 1 hour.

The first package includes all of the documents you need to sign. The only additional information you are required to supply is your identification (100 point check).

Generally to meet the identification requirements you need to bring your Drivers licence and Passport.  Supervision will be able to certify your ID on the spot.

If you bring in your Roll Over forms we can put them in the post the same day as your meeting, reducing the length of time it will take to have money available to invest.

Timeframe: Once you have completed this meeting your SMSF is established, however it may take up to 3 weeks 

Step 4: Establishing Your SMSF Accounts

Supervision establishes your SMSF bank Account, Share Trading platform and Term Deposit Platform Accounts by sending in your application documents. Supervision will invite you to ‘Super Gateway’, your SMSF portal.  Information about Super Gateway will provided in your signing meeting.

After Supervision has submitted your account applications to our third party suppliers and they have been accepted, you will be sent email confirmation, or postage confirmations of account establishment directly from these providers. You will be able to access the provider’s websites through Super Gateway and transact on your accounts. Example: Pay expenses, Buy Shares, Get a Term Deposit.

Timeframe: Please allow 1 to 2 weeks from your office meeting.

Step 5: Confirmation of SMSF Registration

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 employer Contributions
  • Copy of your investment Strategy
  • Your SMSF details page

Timeframe: The Final SMSF establishment package will be sent to you about 3 weeks from your meeting, depending on the receipt of official confirmation of ABN & TFN’s from the ATO.  

Step 6: Rollover & Employer Contributions

Rollover of your Existing Super Benefit to your SMSF Bank Account

If you have completed your roll over documentation during the signing and induction meeting, your roll over will already be in progress.  If a cheque has not been

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:  

Step 7: 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 4-5 weeks after applying to establish a SMSF with SUPERVISION SMSF.

In the Post

Step 2: We send your documents in the post

Upon submitting your online application, SUPERVISION SMSF will mail 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 fill out forms.  If you have asked us for help with roll overs in the application form, we will be in touch to guide you to completion.  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
  • Corporate Trustee Documents
  • Application to establish a Transaction 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 24-48 hours after submitting the online application.

Step 3: Review & Sign Documents

Please review the documentation you receive carefully. Should you require assistance or clarification on the documents you are signing, please call our office to discuss.

Once you are satisfied with the SMSF establishment documentation please sign where indicated and send back in the envelope provided.

Timeframe: Please send back the documents as soon as possible.  Depending on where you are located, postage may add time to the process.  Unfortunately, wet signatures are required for the SMSF establishment process.  The financial services industry is not yet ready to move to electronic signatures when establishing trust documents.

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 are included in the package.

Once you have signed and sent back this package we will commence your SMSF establishment.

Timeframe: Once we receive your establishment documentation in the post it takes 2-3 weeks to establish your accounts.

Step 4: Establishing Your SMSF Accounts

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: Confirmation of SMSF Registration

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: Roll Over & 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

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.