Prepare an exit plan

Your exit plan is unique to your SMSF. You will need to consider the individual circumstances of your fund and its members, as each fund will be different.

Make sure each trustee agrees with the exit plan and ensure the agreement with the exit plan is recorded. For example, by documenting the decision in meeting minutes and having the trustees sign it.

Check if there are rules in your fund’s trust deed about how to handle specific life events.

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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