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14 Oct 2021 Superannuation

Keep your fund validation service (FVS) contact details current to receive FVS alerts

Recently the ATO began issuing fund validation service (FVS) alerts. The new FVS alert system is used to advise funds, administrators, service providers and users of the FVS, of critical issues that may impact SuperStream contributions and/or rollovers processing.

The ATO will issue these alerts to the contact email address listed for USIs on the FVS, service providers and administrators who support SuperStream transactions.

More information can be found here.

Member Verification Service is no longer available

The online Member Verification Service (MVS) closed on 24 September 2021.

To assist funds with their requirements to validate self-managed superannuation funds (SMSFs) and member details when processing a rollover to an SMSF, the ATO has implemented the SMSF Verification Service (SVS).

More information can be found here.

SMSF Verification Service (SVS) – high volume of manual verification requests

The ATO has issued CRT Alert 012/2021 to advise that they have received an unexpected high volume of manual verification requests causing a delay in processing these requests.

Please do not send multiple requests for the same member as the original request will be processed.

The ATO has advised that it will endeavour to process these requests as soon as possible.

Your SMSF annual return may be due by 31 October 2021

Some SMSFs have their annual return (SAR) due by 31 October 2021. Make sure you have an appointed auditor and get your accounts and statements in order.

More information can be found here.


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