Free transfer from ESUPERFUND
We receive regular phone calls and emails to ask how to transfer SMSFs from ESUPERFUND to iCare SMSF.
This article should answer most of questions we have come crossed so far.
For any ESUPERFUND clients who want to transfer their SMSFs to iCare Super, please fill out this form:
Steps after we have received your transfer form:
- We will send ESUPERFUND an ethical clearance letter to request all the documents and information for your SMSF to transfer to us.
- You also will need to send us the following documents if you have received them from ESUPERFUND to speed up the transfer process:
- full copies of the signed trust deed
- latest financial reports and tax return
- signed audit report
- cost base (historic costs) of the assets held in your SMSF (Cost Base Report in excel spreadsheet format)
- ATO Trustee Declaration Form (for fund set up after 1/7/2007)
Why should I transfer my SMSF from ESUPERFUND to iCare SMSF?
- We have dedicated phone numbers that you can call to discuss your SMSF questions during business hours;
- We have only increased our fees once in the last 11 years by $168 to $1,056/year;
- iCare SMSF does not have any restrictions on investments, bank accounts and bank loans etc. We do not recommend any bank accounts or trading accounts;
- iCare SMSF is independent from any financial institutions, share brokers and fund managers. We do not receive any commission from any financial institutions, brokers accounts and investment platforms;
- By engaging our SMSF administration services, you will have total freedom of investing anything that the superannuation law allows.
What information do I need to get from ESUPERFUND and provide them to iCare SMSF?
It is very important that you get the historic purchase prices for all the investment held in your SMSF from ESUPERFUND. Normally , they should provide it to you in an excel spreadsheet.
The following information and documents are required to bring your SMSF onto our administration system:
- Scanned copies of trust deed or any amended deeds
- Bare trust deed if you have borrowed to purchase the property
- Latest tax return, financial reports and signed auditor report
Will ESUPERFUND refund any prepaid fees?
Please ask ESUPERFUND directly if they can refund your prepaid fees or not.
If I need to lodge previous year tax return, can iCare SMSF help?
Yes, you do not need to request ESUPERFUND to finish your outstanding tax returns if they have not started as yet.
We will finalize for you and lodge them with ATO.
Can I close the bank/broker account opened by ESUPERFUND?
Yes, you can arrange the closure of any bank/broker accounts that you do not wish to keep for the Fund.
Do I need to wind up my SMSF set up by ESUPERFUND?
No, you do not need to wind up your SMSF to use our services. Your SMSF is still the same one with the same TFN and ABN.
Do I need to change the ESA after transferring my SMSF to iCare Super from ESUPERFUND?
No. However, you are encouraged to apply for a new one using this link: ESA
Does iCare SMSF have a list of allowable investments?
No. You can invest anything as long as your SMSF trust deed, investment strategy and SIS Act allows you to do so.
Does iCare Super have automatic data feeding for all the transactions for my SMSF?
Yes, we can arrange that using cloud-based SMSF software BGL Simple Fund. The BGL Simple Fund software subscription costs are covered by our annual compliance fee.
Please refer to this link for more details: SMSF Software Service Providers
If you have any questions in regards to the transfer process, please feel free to contact us on 03 9557 4079 or via email info@icaresuper.com.au