Winding Down or Closing Trading Accounts

Winding down your SMSF

If you wish to wind up your SMSF before the end of the financial year, please let us know by April 1^st.  This will ensure we have enough time to complete your final tax return and have your SMSF and trustee company (if applicable) closed before June 30^th.  To wind up an SMSF we need to complete the following…

1. Notify us via the portal that you wish to close down the SMSF
2. Ensure you have another superannuation account set up to transfer assets or funds
3. Sell all SMSF assets and move funds to the SMSF bank account
4. Notify us of the accounts you are closing so we can let you know how to get the statements / transaction history before you lose access
5. Close all SMSF accounts except for the bank account
6. Redirect employer contributions to new superannuation (if employed)
7. Pay SMSF accounting fees to end of financial year and wind up fee (we will invoice)
8. NBC will complete final tax return and advise amount to send to other superannuation account
9. You send funds to the other superannuation account
10. NBC will cancel ABN, deregister company and confirm SMSF is no longer registered

Closing SMSF bank/trading accounts

If you ever need to close an SMSF related account please let us know first.
In a lot of cases, it can be very hard for us to get the data we need for your annual tax return from bank/trading accounts after the account has been closed.
Please send us a message to let us know you wish to close a bank/trading account, so we can advise what is required first before the account is closed.