Quarterly TBAR Lodgment Reminder

Self-managed super funds (SMSFs) must report certain events that affect members 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.

You must report and lodge within 28 days after the end of the quarter in which the event occurs. You are not required to lodge if no TBA event occurred during the quarter.

If you’re currently lodging the TBAR annually at the same time as your SMSF annual return, you will need to report all events that occurred in the 2023 income year by 28 October 2023. You will then need to report any transfer balance events quarterly.

You can no longer report annually at the same time as your SMSF annual return.

You should always refer to event-based reporting for SMSFs and the TBAR instructions when preparing your TBAR.

The easiest way to lodge is through Online services for business. Your tax agent can also lodge through their online services.

If your SMSF does not lodge a TBAR by the required date the member’s transfer balance account may be affected. The member may need to commute any amounts more than their cap and pay more in excess transfer balance tax.

Source: ATO