Since February 2020 the ATO has been issuing alerts via email and SMS when certain changes are made to a self-managed super fund (SMSF) record.
This includes changes to the SMSF’s:
- bank account details
- electronic service address
- authorised contact
There are several ways these details can be updated, including via the SMSF’s annual tax return.
For example, if we have lodged your SMSF’s annual return and the refund bank account has been changed from the prior year, you are likely to receive an SMS and email alert advising you changes have been made to your SMSF. The alert will be sent directly to you, the trustee, and no notification is sent to us.
Generally, if we have just lodged and you get an alert, there is nothing you need to do. If you receive an alert and you don’t know of us recently lodging anything for your fund, please let us know so we can investigate the source of the change.
The alerts are being sent to mitigate the risk of your SMSF details being fraudulently changed. If you have any concerns about the validity of communications received by the ATO (it could be suspicious messages, links or information), don’t hesitate to phone the ATO directly or us for guidance. When it comes to your financial security, checking twice is wise.