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Scheduled due dates for unclaimed super
APRA funds are to report and pay unclaimed super money (USM) in the approved form by the scheduled statement due dates as follows:
- for an unclaimed money day being 31 December of any year – 30 April of the following year
- for an unclaimed money day being 30 June of any year – 31 October of that year.
Note: These scheduled due dates don’t apply to trustee voluntary payments (TVPs). However, the existing USM effective dates can be used to report TVP.
The approved form contains all the information, statements, and declarations you’re required to provide. You don’t have the discretion to determine what information will or will not be provided.
If you have no unclaimed money, lost member accounts or inactive low-balance accounts to report and pay, you’re required to advise us of this by lodging a non-lodgment advice.
Reporting where more than one category applies
An amount you hold with respect to a member may be assessed as meeting more than one category. If this happens, only report and pay the amount to us once.
Follow the order of precedence below to report and pay in the correct category:
- non-member spouse or deceased member
- member who is a former temporary resident identified on a section 20C notice
- member who has reached eligibility age
- small or insoluble lost member account
- inactive low-balance account
- trustee voluntary payment.
Trustee voluntary payment
Trustee voluntary payments (TVP) are amounts in respect of a member, former member or non-member spouse where the trustee reasonably believes paying the amount to us would be in the best interest of the person.
This doesn’t include the following amounts required to be paid to us under another provision of the Superannuation (Unclaimed Money and Lost Members) Act 1999 (SUMLMA):
- an amount that meets the conditions for unclaimed money
- unclaimed super for former temporary residents identified in a section 20C notice
- held in an inactive low-balance account or lost member account.
Depending on the status of the person (member, former member or non-member spouse), the fund will need to consider a range of factors when forming a view about whether transferring an amount to us would be in the person’s best interests, including:
- the history of contributions, rollover, drawdowns or other activity of the member, former member or non-member spouse
- whether there are any insurance premiums being deducted from the account
- the history of contact with the member, former member or non-member spouse
- whether previous attempts to contact the member, former member or non-member spouse have resulted in a member-initiated change to their superannuation arrangements.
If the fund has recent contact information for a former member, they should take reasonable steps to provide notice to that member at their last known postal address, to give them an opportunity to provide alternative instructions before transferring any amounts to us.
At the time the fund pays the TVP, the fund must give us an unclaimed superannuation money statement. The information required by the statement may include information necessary to determine the tax free and taxable components of the amount paid to us.
TVP amounts can be paid to us at any time provided at the time the payment is made, the amount is not covered by one of the compulsory obligations in the SUMLMA (see scheduled due dates for unclaimed super ).
What to do in common situations
Former temporary resident dies
If your member is a former temporary resident for whom you received a section 20C notice, and you also hold an amount in respect of that member that satisfies the definition of unclaimed money in circumstances where the member has died, report the amount as unclaimed money (as a deceased member).
Don’t report it as a superannuation interest of a member who is a former temporary resident.
Former temporary resident reaches eligibility age
If your member is a former temporary resident for whom you received a section 20C notice, and you also hold an amount in respect of that member that satisfies the definition of unclaimed money in circumstances where the member has reached the eligibility age, report the amount as a superannuation interest of a member who is a former temporary resident.
Don’t report it as unclaimed money of a member who has reached the eligibility age.
Lost member reaches eligibility age
If you hold an account in respect of a member that meets the definition of a lost member account and the amount held with respect to the member also meets the definition of unclaimed money in circumstances where the member has reached eligibility age, report the amount as unclaimed super as a member who has reached eligibility age.
Don’t report it as a lost member account.
Inactive low balance account and lost member account
If you hold an account in respect of a member that meets the definition of both an inactive low balance account and a lost member account, report the amount as a lost member account.
Don’t report it as an inactive low balance account.
Make sure lodgment has been accepted
You must take action in the following situations to make sure that we have accepted and processed your lodgment:
- If we successfully process your data message, we will send your gateway an unclaimed super money outcome response (USMOR) message. USMORs may be delayed during peak USM lodgment periods.
- If your gateway didn’t receive an USMOR, and
- also didn’t receive a technical receipt – your gateway provider should re-send the message
- did receive a technical receipt – lodge a request via the Super Enquiry Service with details of the technical receipt.
- Notification of reporting issues promptly is critical to ensure your members are not affected. You must reconcile your data and payment messages in a timely manner.
- If you get a data message error – you must take the necessary corrective action and resend the message within 30 days. When you re-send your data, use the same payment reference number (PRN) on the matching payment message to ensure synchronisation occurs. For help with matching new messages with old payments lodge a request via the Super Enquiry Service.
- If we receive a payment but we reject or don’t receive the matching data message, we will not return the payment to you. On request, we can only refund overpayment amounts.
Correcting mistakes on statements
If you become aware of a material error or omission in any information in the statement, you’re required to correct and resubmit the adjustment no later than 30 days after becoming aware of it. If you need help, contact us by lodging a request via Super Enquiry Service.
Interest and penalties may apply. To help minimise these, lodge as soon as possible.
Increase adjustments
If your adjustment involves an increased unclaimed money amount, report this to us by sending a new lodgment for the additional amount.
Decrease, transfer, or cancel adjustments
Use the USM adjustment template if you need to decrease, transfer, or cancel a previously reported entitlement. You can then send a new USM lodgment to report the correct entitlement.
Examples of how to make adjustments
Example 1: incorrect account
Member Sarah Black with DOB 17/02/1946 is identified as member who has reached eligibility age (generally 65 years old), and the trustee has lost contact with that member.
The account for a different member, Sarah Black with DOB 03/10/1976, is reported and paid to the ATO in error.
The fund becomes aware of the reporting error. They request an adjustment via Online services for business as soon as possible to have the incorrect lodgment cancelled and the payment refunded.
End of example
Example 2: system issue– full adjustment
A lodgment is made for 417 members that have been identified as meeting the unclaimed money criteria.
The fund identifies that due to a system error only 400 members should have been reported. Payment was made for those 400 members.
The fund lodges an adjustment template to request a cancellation of the entire lodgment. The fund then re-reports for only the correct members using the same PRN as for the original payment.
Note that where a payment is received for an amount less than the amount reported, none of the members reported in the lodgment will receive their super entitlements until the reported and paid amounts match.
End of example
Example 3: system issue – when to lodge a partial adjustment
A lodgment is received for 32 members that have been identified as meeting the unclaimed money criteria. A matching payment is received for the lodgment.
The fund identifies that 2 of the members have been reported incorrectly due to a technical system error.
The fund lodges a partial adjustment template to request a cancellation of the 2 incorrectly reported members. The ATO cancels the lodgment for the 2 identified members and issues a refund to the fund.
End of example
Example 4: claim by beneficiary in progress
A fund is processing a claim by the beneficiary for a deceased member’s interest.
In the meantime, the money is picked up in error through the fund’s automatic processing. It is paid to the ATO as deceased USM.
The fund lodges an adjustment template to request a cancellation of the incorrectly reported member. We cancel the lodgment for the identified member and issue a refund to the fund.
End of example
Example 5: adjustment not required
A fund identifies member Simon Kent as a member who has turned 65 years old. Despite reasonable attempts, the fund has not been able to contact Mr Kent.
The fund reports and pays the member’s account to the ATO in October 2022. In December 2022, Mr Kent contacts the fund after receiving delayed mail that had been forwarded to a new address.
In this instance the amount was not reported in error and an adjustment is not required. The member was correctly identified as a lost member at the time the unclaimed money was reported and paid to the ATO.
The member should be directed to contact us. They may request a direct payment of unclaimed money (if eligible) or opt to rollover any ATO-held super to their chosen fund destination.
End of example
Example 6: member declaration form received after lodgment
A fund reports and pays USM as per their reporting obligations. The member then sends a declaration form declaring they are not a member of an inactive low-balance account.
If the declaration had not been received by the fund at the time the reporting and payment was completed; then the account was correctly reported and paid as an inactive low-balance account.
The fund explains to the member that the reporting and payment has already concluded, and their account has been sent to the ATO in accordance with legislative requirements.
If the account has not already been proactively consolidated to an active account of the member, the member should be directed to ATO online services to request a direct payment of unclaimed money if eligible or opt to rollover any ATO-held super to their chosen fund destination.
End of example
Example 7: member makes contact after a valid USM lodgment by fund
A fund determines their USM on the unclaimed money day, and reports and pays by the scheduled statement day. Six months after the money has been transferred to the ATO the member contacts the fund claiming financial hardship. The account has been reported correctly and there is no valid reason for the money to be returned.
If their account has not already been proactively consolidated to an active account of the member, the member should be directed to ATO online services to request a direct payment of unclaimed money if eligible or opt to rollover any ATO-held super to their chosen fund destination.
End of example
Example 8: member wants to access insurance
A fund accurately reports and pays a member’s USM to the ATO. Four months later the member contacts the fund to gain access to their insurance. As this is not a reporting error, it is not required to be returned to the fund.
The fund explains to the member that the reporting and payment has already concluded, and their account has been sent to the ATO in accordance with legislative requirements.
End of example
For more information, see Adjusting unclaimed superannuation.
USM reporting and preservation status
It’s compulsory to report preservation information when a member’s account is transferred between funds. However, once an account is paid to the ATO, the preservation character is no longer retained. In addition, when a rollover occurs from ATO-held money to a fund, the benefit amount is all characterised as preserved.
You don’t need to disclose to us if you haven’t correctly reported the preservation amounts when you pay USM, as this is not an error that requires remediation.
Unpresented cheques and unclaimed money
In some circumstances you may be required to make payments out of the fund via cheque. For example, when paying a Departing Australia superannuation payment (DASP) online claim or a superannuation death benefit. In some instances, those cheques remain unpresented and go stale after a period of time.
The following example provides guidance on the actions you may take in this circumstance.
Example: when a cheque is unpresented
In June 2021, ABC fund identifies their member, Ira, as deceased. They undertake to pay a super death benefit to his nominated beneficiary, Ben. Ben is a non-dependant of Ira, so the fund is required to pay the amount as a lump sum and withhold the relevant rate of tax.
ABC fund determines that the lump sum has a taxed and an untaxed element.
The fund prepares and lodges a pay as you go (PAYG) payment summary and remits the correct amount of tax to the ATO. The fund issues Ben with the PAYG payment summary along with the net amount as a cheque.
Ben doesn’t present the cheque. Despite the fund making reasonable attempts to contact Ben, the cheque goes stale after a 12-month period. In August 2022, the fund cancels the cheque and assesses the amount as unclaimed money – deceased member. The fund determines that they have not received an amount in respect of Ira within the last 2 years. They are unable to ensure that the benefit is received by Ben, so they pay the amount to the ATO as unclaimed money.
The fund reports and pays only the net amount as unclaimed money under the deceased TFN. This is the amount that is currently held by the fund in the name of the deceased member. They report the net unclaimed money amount as a tax-free component, as the appropriate tax has already been withheld and remitted to the ATO for the benefit.
Ben later claims the unclaimed money amount from the ATO. We pay it and any interest owing from ATO-held super without tax as it has been reported as unclaimed tax-free.
End of example
For more information, see Unclaimed superannuation money protocol.