TFN validation notice
You must ask the Commissioner for a TFN validation notice when you receive a request to rollover an account to another provider, unless:
- you do not hold the member's TFN
- the rollover request was sent by us
- you have previously received a notice from the Commissioner validating the member's TFN.
If the Commissioner is unable to validate the member's details, you may ask the member for proof of identity information that you reasonably need to process the request to rollover.
Rollovers to SMSFs
Prior to processing a request to rollover to an SMSF, you must verify the SMSF against the records held by the Commissioner through the use of the SMSF Verification Service.
APRA funds and their administrators must not solely rely on the SVS to meet their ‘know your client’ obligations. You can request additional information from the member including:
- proof of identity documents to confirm the member’s identity
- SMSF bank account information to confirm the destination of the transfer of super money.
Verifying this information will safeguard your members' retirement savings.
Further information is available in the Request for rollover of whole balance of super benefits between funds instructions.