Do you need to lodge a transfer balance account report?

Do you need to lodge a transfer balance account report?


Self-managed super funds (SMSF) may be required to lodge a transfer balance account (TBA) report by 28 July 2020 in the case of a TBA event.

A TBA report will need to be lodged with the ATO in the event that both of the following apply:

  • A TBA event occurred in a member’s SMSF between 1 April and 30 June 2020,
  • Any member of the SMSF has a total super balance greater than $1 million.

SMSFs will also need to complete this report when a member needs to correct information about a TBA event that they have previously reported to the ATO or are responding to a commutation authority.

According to the ATO, an event is classified as a TBA event if they result in credit or debit in a member’s transfer balance account. Such events include:

  • Super income streams in existence just before 1 July 2017 that both continue to be paid on or after 1 July 2017, or were in retirement phase on or after 1 July 2017,
  • Super income streams that stop being in retirement phase,
  • Limited recourse borrowing arrangements (LRBA) payments entered into on or after 1 July 2017,
  • LRBA payments resulting in an increase in the value of the member’s superannuation interest supporting their retirement phase income stream,
  • Personal injury (structured settlement) contributions that occurred post 1 July 2017,
  • Voluntary member commutations.

There are a number of ways you can lodge your TBA report with the ATO:

  • Lodge online by completing an interactive online form in the Business Portal
  • Lodge online by completing an interactive online form with a tax agent and filing through online services
  • Lodge a paper report (you can report up to four events for the same member on a paper report)
  • Use bulk data exchange (BDE) to submit through file transfer facilities. You will generally need support from a software provider to meet BDE specifications.
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If you believe the matters discussed above are relevant to your business, please contact Darren Smith of our office to discuss further.


Darren is a Chartered Accountant with extensive experience, including working in the big 4 and medium sized firms before becoming a partner of a city based firm in 2000.

He has gained much experience and has extensive knowledge in providing business and taxation advice, superannuation planning, negotiation of sales and acquisitions of businesses and property development. His client base covers a wide range of industry groups.

Darren works with business owners to grow their businesses and create personal wealth within and outside of their business.


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