TBAR Transfer Balance Report

Superannuation transfer balance reporting to the ATO is used to provide information related to the Transfer Balance Cap, introduced from 1 July 2017.

A fillable PDF report has been released by the Tax Office, which can be used from 1 October 2017, or the Business or Tax Agent portals for electronic lodgment.

An online interactive report can be filed via the Business Portal.

TBAR form instructions and lodgement information links are available here.

Details of all reporting channels are here.

TBAR reportable events from 1 July 2017

• super income streams in existence just before 1 July 2017 (first-time transition period)
• superannuation income streams that have commenced in retirement phase
• limited recourse borrowing arrangement payments (LRBA)
• member commutations
• compliance with a commutation authority issued by the Commissioner
• personal injury (structured settlement) contributions
• super income streams that stop being in retirement phase
• any other relevant transactions that result in a credit or debit in an individual’s transfer balance account as outlined in the approved form

When to lodge a TBAR

In general the scheme was designed around event-based reporting, with the basic trigger for the report being the occurrence of a reportable event, and the report due within a short period of month end.

However this has been relaxed in the case of certain events occurring in SMSF funds with all member TSBs under $1 million (see below).

Electronic and paper-based reporting modes are provided.

The rules apply differently to APRA funds and SMSFs, and there are transition arrangements in the first year.

First year reporting

APRA funds must lodge their first report by 14 December 2017

SMSFs must commence reporting from 1 July 2018. They may commence earlier except in the case of events associated with:

• an Excess Transfer Balance Determination (report required 10 business days from month end); or
• Commutation Authority issued by the ATO (report required within 60 days)

Following industry consultation, the ATO decided that event-based reporting from 1 July 2018 will be limited to those SMSFs with members with total superannuation account balances of $1 million or more.  They are to report quarterly within 28 days after the end of the quarter in which an event occurred. The first such report would be 28 October 2018. Other SMSFs (all balances under $1 million) can choose to report events which impact their members’ transfer balances at the same time as it lodges its SMSF annual return.

Reporting ongoing

The general on-going reporting time frames are based around the type of event, and are as follows:

See further information about TBA reportable events and reporting due dates.

Earlier reporting encouraged

The Tax Office has advised that some events should be reported as soon as possible, rather than wait for the lodgement deadline.  Transfers into a APRA fund and the rectification of an excess under the 2017 transition provisions are examples which could lead to incorrect or unnecessary processes if not reported promptly. See comments reported here.

See further

• Regulation F2017L01273 Reporting of event based transfer balance account information in accordance with the Taxation Administration Act 1953
• SMSFs in the post Superannuation reform environment

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This page was last modified 2018-12-14