LOST SUPERANNUATION

A while back I received a communique from the ATO regarding the millions & millions they are holding onto in respect of unclaimed SuperAnnuation Contributions.

Their article goes as follows.

Have your clients lost track of their super?

If your Clients have lost track of their superannuation, they can search for it quickly and easily using SuperSeeker either online or by calling our 24 hour, 7 days a week, self-help phone service on 13 28 65.

 
All they’ll need to provide is their tax-file number, name (for online searches only) and date of birth.

SuperSeeker can instantly provide your Clients with possible matches to superannuation funds who’ve reported them as lost, as well as to superannuation records held by the Tax Office.

So are you a lost member?

You may be a lost member of a superannuation fund, approved deposit fund, RSA provider or eligible rollover fund if:

• your superannuation fund or RSA has been unable to contact you
      
• the superannuation fund or RSA may not have been advised of your address or mail sent to your last known address has been returned unclaimed, or
     
• your employer made contributions for you to a superannuation fund or RSA and in the last 2 years the superannuation fund has not received any contributions or rollover amounts or your account was transferred from another superannuation fund or RSA as a lost member.

How do You find Your lost superannuation?

There are a number of ways you can search for your lost superannuation:

• You can conduct your own online SuperSeeker search
      
• You can phone our SuperSeeker self-help phone service on 13 28 65. This phone service is available 24 hours a day, 7 days a week
     
• You can contact your current superannuation fund and ask them to conduct a search on your behalf using SuperMatch
     
• You can download and complete a Lost Members enquiry form

The easiest way to search for your lost superannuation is by using SuperSeeker, available online or via a phone service.

SuperSeeker online and the phone service will look for your lost superannuation in real time and instantly provide you with possible matches.

SuperSeeker uses your tax file number to find any lost accounts you may have recorded on the Lost Members Register.

It will also search Tax Office records, such as the Superannuation Holding Accounts Reserve (SHAR) and any unclaimed superannuation guarantee vouchers in your name.

Note
If you were an eligible temporary resident of Australia you can visit temporary residents access to superannuation to apply for your lost superannuation online.

Finding other lost money

Unclaimed superannuation is generally transferred to the Unclaimed-Funds Register after a lost member has died, or reached eligibility age, being 65 years for both man and woman and a benefit (other than a pension or annuity) is immediately payable.

If you have already reached the eligibility age or are administering a deceased estate, you may also want to check the Unclaimed- Funds Register relevant to each State and Territory.

You can also search for other unclaimed-funds through the Australian Securities and Investments Commission website.

If this is You, you may want to contact me so that I can steer you in the right direction.

About The Author

Warren Kruger is an Australian Tax Specialist and Advisor.

For a FREE Report "7 Essential Strategies to Reduce Your Taxation NOW!",
Sign Up RIGHT NOW  in the Opt In Box located on the top right hand side of this article.

About The Author

Warren Kruger is an Australian Tax Specialist and Advisor. For a FREE Report “7 Essential Strategies to Reduce Your Taxation NOW!”,enter your name and email address in the Opt In Box located on the top right hand side of this article.

Tagged as: amp, ato, date of birth, eligible rollover fund, help phone, last known address, lost superannuation, mail, nbsp, phone service, rsa, superannuation contributions, superannuation fund, tax file number