A superannuation entity must be set up correctly – in line with the superannuation legislation – to be entitled to an ABN.
Superannuation entities that can apply for an ABN include:
- ATO-regulated self-managed super fund (SMSF)
- Australian Prudential Regulation Authority (APRA) regulated super fund
- Non-regulated super fund
- Pooled super trust
- Approved deposit fund.
Your SMSF needs to be set up correctly before you apply for an ABN. You'll generally need help from a qualiﬁed, licensed professional to set up an SMSF. We also strongly recommend that you complete a trustee education course before you set up your SMSF.
You can apply for an ABN and a tax file number (TFN) when you register your fund with the ATO. Your fund will be eligible for tax concessions and can receive contributions and rollovers after it is registered with the ATO.
A super fund that is regulated by APRA must have a trustee with a registrable superannuation entity licence.
A super fund is non-regulated if it hasn't chosen to be regulated by APRA or the ATO.
If a super fund wants to be regulated, it will need to apply as an SMSF or an APRA-regulated super fund.
A pooled super trust:
- is a resident unit trust that is used for investing assets of super funds, approved deposit funds, pooled super trusts and life insurance companies
- must have a trustee that is a constitutional corporation
- is regulated by APRA
- must submit to APRA a written confirmation of its intention to be treated as a pooled super trust.
An approved deposit fund:
- is an indefinitely continuing fund that is maintained for approved purposes by a Registrable Superannuation Entity licensee that is a constitutional corporation
- can receive, hold and invest certain types of rollovers until such funds are withdrawn or a condition of release is satisfied.