Death benefits

When a member dies, the SMSF has a compulsory obligation to pay a death benefit to a dependant or other eligible beneficiary of the deceased as soon as practicable. A super death benefit can be paid either as an income stream or a maximum of two lump sums, or a combination depending on who will receive it.

Trustees should always consult the legislation and seek advice as to how best to structure the death benefit.

Running a self-managed super fund (SMSF)

Steps Progress

What is an SMSF?

3 mins

Your obligations when running an SMSF

1 mins

Contributions and rollovers

1 mins

Contributions

6 mins

Rollovers

6 mins

Managing your fund’s investments

36 mins

Paying super benefits

8 mins

Types of benefits

18 mins

Reporting and administration

1 mins

Understand how your fund is taxed

5 mins

Value your fund’s assets and prepare financial statements

2 mins

Arrange and receive an SMSF audit

7 mins

Lodge your SMSF annual return (SAR)

4 mins

PAYG withholding obligations

4 mins

Reporting transfer balance cap events

3 mins

Record-keeping requirements

2 mins

Notify the ATO and ASIC of changes

2 mins

Consider professional advice

2 mins

Help and more information

3 mins

Related courses

1 mins

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