“As 31 October falls on a Sunday this year, you will have to lodge by 1 November 2021. If you are a new SMSF but are lodging through a tax agent, your SAR is not yet due,” the ATO said.

“If your SAR is more than two weeks overdue and you haven’t contacted us, we will change the status of your SMSF on Super Fund Lookup to ‘Regulation details removed’. This status will remain until your overdue lodgements are brought up to date.”

With the fund having the status “Regulation details removed”, the ATO reminded that APRA funds will not be able to roll over member benefits and employers will not be able to make super guarantee payments to the fund’s members.

“You will also have to pay the supervisory levy. If you are a first-time lodger, it will be $518 which will cover the 2020–21 and 2021–22 financial years,” the ATO noted.

“You may also have to lodge a transfer balance account report with your SAR if all your members have a total superannuation balance of less than $1 million.”

The ATO urged funds that are having difficulty preparing the return, and do not think it can lodge on time, to contact the Tax Office or talk to the fund’s registered tax agent about their options.

“If you need help, we encourage you, your tax agent or super professional to use the SMSF early engagement and voluntary disclosure service. We can work with you to get your affairs in order,” the ATO said.

“To help you finalise and lodge your SAR correctly, check out our handy Trustee reporting obligations checklist.”