Earlier this month, the ATO released new functionality allowing both APRA super funds and SMSFs to report information about COVID-19 recontribution amounts via Online services for business and Online services for agents.
The ATO stated that super funds would need to create a comma-separated value (CSV) file containing all reported member data per the exact specifications included in the recontribution of COVID-19 early release of superannuation amounts guide.
In an online update, the ATO said it has identified an issue that prevents the CSV file from being lodged with the recommended file naming in section 4.2 of the guide.
“While we work on a fix for this issue, you are still able to lodge the file by shortening your file name to less than 50 characters. For example, you could do this by removing the timestamp <yyyymmddhhmmss> from the recommended file name,” the Tax Office stated.
“We will issue a subsequent alert once this issue is resolved.”
The ATO said it would also be looking to include some further tips in the guide based on the experience of funds to date.
“This includes only saving the file to a CSV once all your data has been input into the Excel (xlsx) file for lodgement. This will ensure the formatting does not cause errors,” it said.
The ATO said funds should also ensure they use text format for any field required in the format “ddmmyyyy”. This will stop the file from removing the leading zero and causing an error.
Funds should also change the “contribution amount” field column to number format with two decimal spaces as without this, the file will remove the decimal points and an error will occur.
The B1 field should also be changed to number format with zero decimal spaces and save the file as CSV and submit.
“If you reopen and save again you will lose some of the formatting described above and it will create errors,” said the ATO.
“If there is an error with your file, the validation report (accessible through online services) will detail where the error has occurred.”
I would love to see the stats on how many people do a covid-19 recontribution. My bet, less than 5. Seems like a waste of ATO resources