This article will provide you guidance on how to successfully transition your SMSF to Class from a manual source which is not provided in the other specific checklists for SMSF.
We will run through the steps;
Prepare Data Files & Reports
- Complete the Fund Data Collection Form for each Fund
Note: Ensure that all amounts are rounded to 2 decimal places
- Class requires the following reports
- Member Statements - Trial Balance - Balance Sheet and Operating Statement - Notes to the financial statements - Tax Return - Investment Summary - Unrealised capital gain report or similar report showing all purchase parcel details (Acquisition Date, Quantity, Cost Base, Cost Base Adjustments) for all investments - TBAR Events History (please see the information required in the Fund data collection form) - For Wrap and Broker accounts, please provide the statement that shows all of the assets - For Bank accounts, please provide the BSB and Account Number
- All reports of one Fund should be put into the same folder and the folder must be named similar to the Fund code. A separate folder should be created for the next fund.
Note: Please ensure that all financial information is provided at the book close date 30 June XXXX.
Submit Files to Transitions Management System (TMS)
For step by step instructions on how to submit your files please see the Transitions Management System article.
Timelines & More
- It will take between 1 to 2 weeks for your Funds to be loaded by Class.
- Any missing information or reports may delay in transitioning your funds.
- We will advise you if any assumption was made during the transition process once the fund has been loaded.
The Class Transitions team can perform additional services. For more information please see Additional Transitions Services
Once the Transitions team has loaded your Funds to Class, please complete the Transitions Review Guide and accept/reject funds on the TMS.