The ATO has reminded self managed super funds (SMSFs) that they now need to be able to receive SuperStream-compliant contributions.
To do this, the following details need to be sent to employers:
• SMSF Australian business number (ABN)
• SMSF bank account details to receive the contributions
• an active electronic service address to receive the data associated with the contributions.
If this information is not provided to an employer, they may direct contributions made on behalf of an SMSF to the employer default fund.