Get written agreement

Organise a trustee meeting and ensure all trustees agree with the decision to wind up the SMSF.

Document agreement with the decision in the meeting minutes and keep the document with the fund’s records.

To avoid potential disputes, each trustee should sign the agreement to wind up. This can be an electronic signature.

You should seek legal advice if trustees can’t agree on the decision to wind up an SMSF.

Winding up a self-managed super fund (SMSF)

Steps Progress

When should I wind up my SMSF?

3 mins

Have a plan for when to wind up your SMSF

2 mins

Prepare an exit plan

2 mins

How to wind up an SMSF

1 mins

Check your trust deed

1 mins

Get written agreement

1 mins

Sell or dispose of your fund’s assets

1 mins

Finalise outstanding tax and compliance obligations

3 mins

Pay outstanding expenses and tax liabilities

1 mins

Calculate and distribute member benefits

5 mins

Complete a final audit

1 mins

Lodge your final SMSF annual return (SAR)

1 mins

Notify third parties

1 mins

Close your SMSF bank account

1 mins

Keeping SMSF records

2 mins

Consider professional advice

2 mins

Help and more information

3 mins

Related courses

1 mins

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