ATO will send alerts for changes made to SMSFs
The ATO is advising SMSF trustees that if they make changes to their SMSF they will receive an alert.
These alerts can come via email or text message if a person registers a new SMSF or makes any changes to an existing fund.
Changes that will trigger an alert include altering financial institution account details, an electronic service address (ESA), an authorised contact, or members of the fund.
The ATO continued that messages from the Tax Office do not ask trustees to reply or provide personal details such as a tax file number or personal banking details.
It advised that if a trustee receives a text or email about a new SMSF registration or changes made to an existing SMSF and they are unaware of the changes, they should contact the other trustees or directors of the SMSF and authorised representatives to check if they have made the changes.
If they’re still concerned about a new SMSF registration or changes that have been made to an existing SMSF, they should contact the ATO on 13 10 20.
The ATO added that to safeguard super, it is important to keep email and mobile phone details up to date as this will ensure trustees continue to receive alerts.