Superannuation (Unclaimed Money and Lost Members) Act 1999

PART 3A - PAYMENT OF UNCLAIMED SUPERANNUATION OF FORMER TEMPORARY RESIDENTS  

Division 3 - Effects of notice being given to superannuation provider  

SECTION 20E   SUPERANNUATION PROVIDER MUST GIVE STATEMENT TO COMMISSIONER BY SCHEDULED STATEMENT DAY  

Giving statement to Commissioner

20E(1)    
The superannuation provider must give the Commissioner a statement, in the approved form, of information relevant to either or both of the following:

(a)    the person ' s superannuation interest in the fund;

(b)    

the administration of any of the following in connection with the person ' s superannuation interest in the fund:

(i) this Part;

(ii) the Superannuation (Departing Australia Superannuation Payments Tax) Act 2007 ;

(iii) the Income Tax Assessment Act 1997 , Part 3AA of this Act, and Chapters 2 and 4 in Schedule 1 to the Taxation Administration Act 1953 , so far as they relate to this Part or the Superannuation (Departing Australia Superannuation Payments Tax) Act 2007 .

Note 1:

The Taxation Administration Act 1953 provides for offences and administrative penalties if the statement includes false or misleading information: see sections 8K and 8N of that Act and Division 284 in Schedule 1 to that Act.

Note 2:

The approved form may also require the statement to include certain tax file numbers: see subsection 25(2A) .

When statement must be given

20E(2)    
The superannuation provider must give the Commissioner the statement by the end of:

(a)    the next scheduled statement day after the notice is given; or

(b)    if the Commissioner gives the notice less than 28 days before the next scheduled statement day - the following scheduled statement day.

Example:

Suppose that 1 May and 1 November each year are the scheduled statement days, and that the Commissioner gives the notice to the superannuation provider on 15 April in a year. The superannuation provider must give the Commissioner the statement by the end of 1 November that year (rather than 1 May that year).

Note 1:

The Commissioner may defer the time for giving the statement: see section 388-55 in Schedule 1 to the Taxation Administration Act 1953 .

Note 2:

The Taxation Administration Act 1953 provides for offences and administrative penalties if the statement is not given when it must be: see section 8C of that Act and Division 286 in Schedule 1 to that Act.

Statement required even if person does not have interest

20E(3)    
The superannuation provider must give the Commissioner the statement even if:

(a)    the person does not have a superannuation interest when the superannuation provider must give the statement; or

(b)    the superannuation provider is not required by subsection 20F(1) to pay the Commissioner an amount in respect of the person.

Relationship to eligible rollover fund provisions

20E(4)    

This section does not apply to an amount payable to the Commissioner in respect of an eligible rollover fund member under section 21C .

Note:

Section 21A requires the superannuation provider to give the Commissioner statements about eligible rollover fund accounts.