Tax agents and accountants

• Can help you prepare financial accounts, and lodge your SMSF annual returns and Transfer balance account report (TBAR).
• Check your tax agent is registered at tpb.gov.au

Fund administrators

• Help set up the fund and advise on its structure and operation.
• Assist with managing the day-to-day running of your fund.
• Help you meet your reporting and administrative obligations during start-up, running day-to-day, and winding up.
• Provide you with services and advice, including accounting, tax and record-keeping.

Legal practitioners

• Prepare, review and update your fund’s trust deed.
• Provide advice on whether certain actions are allowed under the law.
• Represent you in legal proceedings.
• Provide advice on the legal implications of issues such as divorce, estate planning or trustee disputes.

Financial advisers

• Provide advice on whether an SMSF is the right retirement savings option for you.
• Advise which trustee structure is suitable.
• Help prepare, review and update your fund’s investment strategy.
• Advise on the types of investments and insurance to consider and what is allowed under the law.
• Help you prepare an exit strategy for unexpected events.
• Provide financial advice and assistance on winding up your SMSF. This includes advice on how existing benefits should be paid, the recommendation of superannuation products and the sale or transfer of assets.
• A licensed financial adviser offers extra protection because you can seek an independent review if anything goes wrong.
• Check your financial adviser is registered at moneysmart.gov.au/ financial-advice

Approved SMSF auditors (mandatory)

• Examine your fund’s financial statements and assess its overall compliance with the super laws, including checking:
  • investments comply with the investment strategy and super laws
  • it meets the sole purpose test
  • any contributions and benefit payments comply with super laws
  • it has met all lodgment and administrative obligations.
• Advise you and report to the ATO if they:
  • find you have breached certain super laws
  • have concerns about your fund’s financial position.
• Check whether your auditor is registered at asic.gov.au/smsf-auditor

Actuaries

• Provide an actuarial certificate if required where your fund is paying a pension.