A superannuation entity must be set up correctly – in line with the superannuation legislation – to be entitled to an ABN.
Superannuation entities can apply for an ABN as:
- 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.
Getting an ABN isn't the first step in setting up an SMSF.
Your SMSF needs to be set up correctly before you apply for an ABN. You'll generally need the assistance of 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 along with a tax file number (TFN) as part of registering 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 has not made an election to be regulated by APRA or the ATO.
If a super fund intends 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- can receive, hold and invest certain types of rollovers until such funds are withdrawn or a condition of release is satisfied.