Are you meeting your lodgement obligations

To avoid penalties and the loss of SMSF tax concessions make sure your lodgments are up to date.

Lodging the SMSF annual return (SAR) is the most important compliance obligation you must meet. The SAR covers the income tax return, regulatory information and member contribution reporting, and also enables payment of the SMSF supervisory levy.

Over 65,000 self-managed super funds (SMSFs) still have outstanding lodgments obligations for the 2023 year, and the ATO is observing a similar trend in late lodgments for 2024.

The ATO is concerned about the growing number of SMSFs falling behind with their lodgment obligations and remind trustees of the importance of understanding and meeting their lodgment and compliance obligations.

If you fail to lodge your SAR on time, there may be penalties applied and SMSF tax concessions can be lost. If your fund’s lodgment is overdue, its Super Fund Lookup may change to ‘regulation details removed.’ This can restrict your SMSF from receiving rollovers and employer contributions.

During 2025–26 the ATO will be undertaking targeted compliance action for SMSFs that are behind with their lodgment obligations. Unless prompt action is taken in relation to the outstanding obligations of these funds, their trustees can expect ATO’s compliance action to deliver sanctions which could include their disqualification from running an SMSF.

If you have any questions, feel free to ask them in the comment section. We will be happy to answer all your queries.