SMSFs must report certain events that affect a member's transfer balance account ('TBA') quarterly using transfer balance account reporting ('TBAR').

These events must be reported even if the member's total superannuation balance is less than $1 million.

TBA events include starting or commuting a retirement phase pension.

TBARs for the March quarter are due on 28 April 2025 and SMSFs that do not report on time may be subject to compliance action and penalties, and the member's TBA may be adversely affected.

Note that SMSFs are not required to lodge if there were no TBA events during the quarter.

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Please also note that many of the comments in this publication are general in nature and anyone intending to apply the information to practical circumstances should seek professional advice to independently verify their interpretation and the information’s applicability to their particular circumstances. Should you have any further questions, please get in touch with us for assistance with your SMSF, business, bookkeeping and tax requirements. All rights reserved. Brought to you by RGA Business and Tax Accountants. Liability Limited by a scheme approved under Professional Standards Legislation.