The self-managed super fund (SMSF) member TFN Identity Check (SMSFmemberTICK) Service allows SMSF trustees and their nominated intermediaries to match member details to information held by the ATO using the member’s TFN and other key identity information.
In a recent online update, the ATO said SMSF trustees who receive a request to roll over their member’s super balance to another fund must use the SMSFmemberTICK Service to verify the member’s TFN before making the rollover.
Regulation 6.33D of the Superannuation Industry (Supervision) Regulations 1994 requires any fund rolling over the whole or a part of a member’s super benefit to request a notice from the ATO validating that member’s information prior to completing the rollover. This includes any SMSF undertaking an outward rollover.
To manage the response, when you send a request to the SMSFmemberTICK Service, the ATO will verify the member’s details and provide either a “valid” or “not valid” response.
“Where you receive a ‘valid’ response, you can proceed with the rollover request,” the ATO said.
“You will receive a ‘not valid’ response when we are unable to match the member details provided to our records with an appropriate level of confidence.”
The ATO noted it may not have been unable to match the member details when the SMSF member has provided incorrect details and the records they hold are incorrect.
This also includes if the TFN has a compromised or duplicate status on their systems or the data-matching system cannot establish a single match.
“Where you receive a ‘not valid’ response, you should confirm the details with the member. If the details you provided are correct, the member must contact the ATO to update their details,” the ATO said.
“Once the details have been corrected, you can resend the SMSFmemberTICK message.”
