In an online update, the ATO said it has been issuing alerts to SMSF members since February last year where certain changes are made to their fund, including financial institution account details, electronic service address, authorised contact and members.
There are several ways these details can be updated, the ATO said, including the SMSF annual return.
“If you or your tax agent lodge your SMSF’s annual return and the financial institution account details and electronic service address provided are different to what we have on our records, you can expect to receive an SMS and email alert advising you changes have been made to your SMSF,” the ATO said.
“The alert will be sent directly to you, the trustee, even where you use the services of a tax agent.”
If the SMSF trustee is already aware of the changes, there is nothing they need to do, the ATO said.
“However, if you receive an alert and you’re not aware of changes being made to your SMSF, you should, in the first instance, check with the other trustees of your SMSF or representatives authorised to make changes to your SMSF, such as your tax agent,” it said.
“These alerts are being sent to you to let you know when changes are being made to your SMSF’s details and to mitigate the risk of them being fraudulently changed.”
The Tax Office also reminded trustees to check the ATO has their correct mobile phone number and email address to ensure they receive these alerts.
