Setting up your fund — accounts, rollovers and contributions
Getting the first few weeks right makes everything after it easier. In this lesson: the order to do things in, why every account must be in the fund’s name, how to roll your existing super across and the basics of contributions.
2.1 The setup order
| Step | What to do |
|---|---|
| 1. Trust deed and trustees | Sign the fund’s trust deed. Set up the corporate trustee company first if you’re using one. |
| 2. Trustee Declarations | Every trustee or director signs the ATO Trustee Declaration within 21 days. |
| 3. ABN and TFN | Register the fund with the ATO and elect to be a regulated super fund — within 60 days of setting it up. |
| 4. Fund bank account | Open a bank account in the fund’s name. |
| 5. Electronic service address (ESA) | Get an ESA from an SMSF messaging provider (most of our clients use Wrkr SMSF) and give it to the ATO and your employer. |
| 6. Check Super Fund Lookup | Wait until the fund shows as Registered or Complying — only then can rollovers and contributions come in. |
| 7. Investment strategy | Write your strategy before you invest. |
| 8. Roll over and invest | Roll your existing super across, then invest in line with the strategy. |
2.2 Accounts in the name of the fund
Everything the fund owns must be held in the fund’s name — this is the separation rule from Lesson 3 (Reg 4.09A) in action. The usual wording is the trustee’s name followed by “as trustee for” (ATF) the fund.
| Account or asset | Correct name |
|---|---|
| Bank account | Smith Super Pty Ltd ATF Smith Family Super Fund |
| Share trading account (HIN) | Same trustee + ATF fund name — never your personal HIN |
| Crypto exchange account | Opened as an SMSF or trust account in the fund’s name — not a personal account |
| Property title | Trustee as trustee for the fund (or the holding trust if there is a loan) |
Common mistake
Paying the setup costs, or receiving the first contribution, into a personal account “just for now”. Wait until the fund bank account is open — the ATO and your auditor will treat mixed money as a breach.
2.3 Your electronic service address (ESA)
Under the ATO’s SuperStream system, rollovers and employer contributions travel electronically together with a data message. Your ESA is the fund’s “electronic address” for those messages — without one, employers and other funds can’t pay money into your SMSF.
- You get an ESA from an ATO-registered SMSF messaging provider. Most are free or low cost.
- At My SMSF we use BGL Simple Fund 360 to administer funds and most of our clients choose Wrkr SMSF (wrkrsmsf) as their ESA provider.
- Once you have your ESA, give it to the ATO (as part of the fund’s registration details) and to your employer.
Who needs your fund’s details
The ATO must have your fund’s name, ABN, TFN, address, bank account and ESA.
Your employer needs the fund’s name, ABN, address, bank account and ESA (usually on a Standard choice form) to pay your super into the SMSF.
If any detail is wrong or missing, contributions and rollovers bounce.
Your employer needs the fund’s name, ABN, address, bank account and ESA (usually on a Standard choice form) to pay your super into the SMSF.
If any detail is wrong or missing, contributions and rollovers bounce.
Your fund must be regulated before money can come in
Look up your fund on the ATO’s Super Fund Lookup. A brand-new fund shows “Election to be regulated is being processed” while the ATO runs its checks (anywhere from 2 to 56 days). During that time the fund can’t receive rollovers or employer contributions. Once the status shows Registered — and later Complying, after the ATO accepts your first annual return — money can come in and the fund can start investing in line with its strategy.
2.4 Rolling over your existing super
- Once the fund has its ABN, bank account and ESA, ask your current fund to transfer your balance — through myGov or the ATO rollover form.
- Your old fund checks your SMSF’s details with the ATO’s SMSF verification service (ABN, regulated status and bank account). If anything doesn’t match, the rollover is held up.
- Once it has everything it needs, the old fund must process the rollover within 3 business days.
- Check before you leave: you may lose insurance held in the old fund. Arrange replacement cover first if you need it.
- Rollovers are not contributions — they don’t count towards the contribution caps.
2.5 Contributions — the basics
| Type | What it is | 2026-27 cap |
|---|---|---|
| Concessional (before tax) | Employer super, salary sacrifice and personal contributions you claim a tax deduction for. Taxed at 15% in the fund. | $32,500 a year |
| Non-concessional (after tax) | Personal contributions from money you’ve already paid tax on. Not taxed going in. | $130,000 a year — or up to $390,000 over 3 years (bring-forward) if your total super balance is below $1.84m |
- If your total super balance is $2.1 million or more, your non-concessional cap is nil.
- The fund must give the trustees each member’s TFN before it can accept personal contributions.
- Contributions must be allocated to the member within 28 days after the end of the month they arrive.
- Generally, voluntary contributions can be made until age 75.
- Payday Super (from 1 July 2026): employers must pay super with every pay and it must reach your fund within 7 business days. Give your employer the SMSF’s ABN, bank account and ESA.
Going over a cap
Excess concessional contributions are taxed at your personal marginal rate (with a 15% offset). Excess non-concessional contributions can be released from the fund, or taxed at 47% if left in. Track contributions across all your funds, not just the SMSF.
Key takeaways
- Set up in order: deed → declarations → ABN/TFN → bank account → ESA → regulated status → strategy → rollover.
- The ATO and your employer need the fund’s details including its ESA — and nothing comes in until the fund is regulated.
- Every account and asset in the fund’s name — never personal.
- Rollovers go through the ATO’s SMSF verification and don’t count towards the caps.
- 2026-27 caps: $32,500 concessional, $130,000 non-concessional (up to $390,000 with bring-forward).
Want the full picture?
This free course covers the essentials. The full SMSF Trustee Education Course ($11) goes deeper across 10 lessons — setup steps, trustee structures, contribution caps, pensions and winding up a fund.
General information only — not personal financial, tax or legal advice. Rules referenced are current as at October 2026. Check the ATO website or speak to a licensed adviser before acting.