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What is the legal requirement of the SMSF trust Deed when the trustee of an SMSF Changes from one corporate trustee to another corporate trustee (Different ACN or maintain ACN). Does the Trust Deed have to be replaced or amended or does the trustee need to execute a change of trustee deed? What about when it changes from individual trustees to corporate trustees and vice versa. Or is this a question for the legal profession?
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Hi Mark
It is a legal question but my view is it depends on what the Fund's Trust Deed states. As an example some Trust Deeds state that if you change from individual trustees to a corporate trustee you need to replace / vary the Fund's Trust Deed.
That is if there is a change in Trustee you need to refer to the current Trust Deed to determine what action / documentation is required.
If other members of the forum want to comment that would be appreciated.
Thanks
SMSF AAA