If an SMSF is no longer appropriate for you for whatever reason, it’s possible to pay out the funds or roll over to another super fund and then wind the SMSF up.
When winding up your SMSF, there are a number of requirements that must be followed to legally and effectively close the fund. You must:
If only one member is wanting to leave the fund, and there will still be at least one member left, you do not have to wind the SMSF up. You can simply roll over that member’s share of the SMSF to another super fund. It’s possible that your SMSF may need to be restructured after the exit of a member, so keep that in mind.
We can take care of the entire winding up process for you, preparing and lodging all necessary documentation while managing the process. With the help of SMSF In Focus, you can wind up your self-managed super fund in the most effective, compliant, stress-free process possible.