How to complete Section F and G
Each page in section F and section G is a statement of the transactions on a member's account in 2020–21. Complete a separate page in either section F or section G for every person that was a member of the SMSF during 2020–21.
If a member has multiple accounts, combine them so that each member has only one statement in either section F or section G.
Each member's opening account balance (at 1 July 2020) should equal their closing account balance in the prior year (at 30 June 2020). The closing balance (at 30 June 2021) should reflect the value of the member’s actual interest in the SMSF. The amounts that you record in section F and section G summarise all the transactions that affect that balance.
Section G has the same information as section F plus two additional questions:
- the account status code box
- the date of death for deceased members.
Who do you include in section F and section G?
In section F, include anyone who was a member of the SMSF on 30 June 2020, even if the SMSF:
- paid them an income stream during 2020–21, or
- received no contributions for them during 2020–21.
To avoid processing delays, the total of the amounts you show at S1, S2 and S3 must equal the Closing account balance at S.
In section G, include anyone who was a member of the SMSF at any time during 2020–21, but is not a member on 30 June 2021. This could include:
- deceased members (even if there was money in their account on 30 June 2021)
- former members who left the SMSF by rolling out all their benefits
- former members who left the SMSF by being paid all of their benefits as a super lump sum or the final payment of an income stream.
If the SMSF has more than four members on 30 June 2021:
- it has breached superannuation law (see the self-managed superannuation fund definition)
- in section G include the members whom you cannot include in section F due to lack of space.
Example: Deciding where to report members – section F or section G?
On 1 July 2020, there were four members in an SMSF: Mary, Michael, Sara and Angelo.
Mary left on 1 May 2021 when she rolled over all her entitlements to another fund.
Michael left on 27 May 2021 when he was paid out all his entitlements as a super lump sum.
Two new members, Ari and Jess, joined the SMSF on 1 June 2021. The SMSF received contributions for them in June 2021.
The SMSF must report all six members in the SMSF annual return 2021:
- Sara, Angelo, Ari and Jess were members on 30 June 2021, so they are reported in section F.
- As Ari and Jess received employer contributions from a non-related employer in 2020–21, the SMSF financial institution details and ESA alias are reported in section A.
- Mary and Michael were members for part of 2020–21 but were not members on 30 June 2021, so they are reported in section G.
Our use of information in section F and section G
We use the information in section F and section G to:
- determine members' entitlements to the super co-contribution and Government super contributions
- make a determination or assessment of excess contributions for members
- assess Division 293 tax for members
- check superannuation guarantee compliance of employers.
Continue to: Member detail questions (name, TFN, date of birth)