This page will guide you through initiating a member's rollover out from their SMSF to another fund (APRA/SMSF) through SuperStream.

We note that from 1 October 2021, SuperStream is mandatory for cash Rollovers In and Rollovers Out of SMSF's. There are very limited circumstances in which manual rollovers can be performed (see Manual Rollovers).

Rollover Out to APRA/other SMSF

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1. Navigate to Fund Level > Periodic Processing > Period update. Run a Period Update a day before the rollover out (Period Update must be performed if you want to do a full/substantial rollover out). 
2. Navigate to Business level > Rollover and Release Authorities console
3. Click on 'Initiate Rollover Out'
4. Complete the form and make sure the member has sufficient balance in the Accumulation Account. If you need further assistance in completing the Rollover Details, please refer to How to enter details for Rollover Out (SuperStream).
5. After completing the Rollover Out form, click 'Initiate Rollover Out' and the status will change to 'Request Received'
6. Read the prompt and make the payment using the Payment Reference Number (PRN) provided.

   WARNING: Class does not make the payment. The trustee or member of the SMSF needs to make the payment using the PRN number provided. 

   

   NOTE: If you have made a mistake, you can Cancel the rollover at the above stage if the Payment has not been made.

7. Click on Confirm payment. This step will generate a Rollover Out business event automatically in Class with a Rollover Benefit Statement at the Fund level. The status changes to "Waiting Confirmation from Receiving Fund"

Once the receiving entity accepts the notification from their end, the notification status will change to "Complete".