Hi,
I have fund that was wound up as at 30 June 2023. the member rolled their balance over to a personal super wrap platform. the member wanted the shares & managed funds owned in the smsf to be transferred to their personal super account so off market transfers were completed. trustees & fund administrator tried to process the rollover through superstream but the wrap platform refused to accept it as the balance was off market transfers and not cash.
In relation to the rollover rules, would this be considered a breach as the rollover wasn't completed through superstream?
Hi Lacey
In specie rollovers for SMSF's are not caught by the Super Stream rules so can occur outside of it.
Thanks
The Auditors Institute