Changes in 'lost' status
A member of a super provider is a lost member if the member is:
- a lost RSA holder within the meaning of regulation 1.06 of the RSAR
- a lost member within the meaning of regulation 1.03A of the SISR.
These regulations define an RSA holder or member of a super provider to be a lost member at a particular time if:
- they are uncontactable
- they are an inactive member
- the member joined the fund from another super provider as a lost member.
A key underlying concept is that it is the individual that is lost – not the account.
You are required to report the lost status of your members at a minimum biannually as follows:
- assessing the lost status of your members on or after 30 June but before 31 October and if there has been a change in the member’s ‘lost status’ account attribute, report that information on or before 31 October
- assessing the lost status of your members on or after 31 December but before 30 April and if there has been a change in the member’s ‘lost status’ account attribute, report that information on or before 30 April.
You can report your members' lost status more frequently if you wish.
If the individual holds multiple accounts within your fund you must lodge an update for each account.
For more information, see Lost members register protocol.
Reporting closed accounts
When you notify us of closed accounts via the MAAS, the mandatory account attributes that are required to be reported are:
- USI
- member account identifier
- account phase
- account status.
When you receive a 'matched' response for a closed account, the account will generally be displayed on ATO online services as a closed account. Your members will be able to see transactions made from 1 July 2018 on the closed accounts but no action can be initiated by them.
Accounts closed prior to 1 July 2018 are not displayed on ATO online services.
If you submit a closed MAAS message and receive an 'unmatched' response the individuals account will not have been successfully closed and it will remain viewable on ATO online services.
Only report a closed account once:
- all closure processes have been completed
- money has been rolled over or paid out
- no interest is remaining
- the interest has moved to the reversionary beneficiary
- it is not possible to receive further contributions.
When the account closure is complete, notification of the closed account through the MAAS should be submitted within 5 business days, or such later date as the Commissioner may allow.