Once you have chosen your SMSF trustee structure, you appoint the trustees.

You must understand and comply with your responsibilities when appointing trustees to avoid penalties for you personally and for your fund.

These responsibilities include ensuring:

• those to be appointed as trustees are eligible to be trustees
• trustees fully understand their role and responsibilities under the law
• trustees consent to being appointed
• the trustee declaration is signed, and
• trustee and member identification details are recorded with the ATO.