SMSF rollover: How to rollover your super
Bring your existing super balance over into your self-managed super fund to avoid paying double the fees.
Key takeaways
- Rolling over your super involves bringing your balance over from your old fund/s your new fund.
- You complete a rollover request form with your existing fund - it's that fund, not the ATO, that actions the transfer, generally within 3 business days of receiving everything required. The ATO's role is limited to registering your SMSF and its electronic service address so the rollover can happen.
- Because you've already paid tax on the balance in your previous super fund, you won't be taxed again when it's rolled over into your SMSF.
If you've successfully opened your very own SMSF, it's now time to add some money to it (if you haven't, take a look at our six-step guide to setting up an SMSF first).
There are 3 main ways to contribute to your SMSF: you can rollover your current super balance into your new fund, have your employer contribute the super guarantee into your SMSF and you can personally make your own contributions too.
SMSF rollover rules
If you've opened an SMSF, it's a good idea to rollover your existing super balance into your new fund. Rolling over your super is also known as consolidating your super and is the process of bringing your super balance over from your old fund or funds to your new fund.
You would have opened a super fund when you started your first job or your employer would have opened one for you, likely a retail super fund or industry super fund. You may not want to keep your old fund active now that you've got an SMSF. You can if you want, however, if you do you'll be paying two sets of fees which will eat away at your investment returns.
How to rollover your super into your SMSF
- Check everything is up to date. Your SMSF must be registered with the ATO, and all member details need to be up to date. If they're not, your super fund cannot transfer your super into your new fund.
- Complete the rollover request form. This form requests that your super fund transfers your entire super balance (or part of it) into your SMSF account. Each member of the SMSF needs to complete their own form in order for their super balance to be rolled over. You'll find the form on your existing fund's website, along with instructions on how to send it to them (usually via email or in the post).
- Your super fund will action the form. Your previous fund will then transfer your superannuation balance into your SMSF, usually within a few business days. You'll receive a rollover benefits statement from your old fund within 30 days confirming the rollover of your balance.
Now that your super balance is in your SMSF account you can start investing it. If you're unsure of where to start, our guide on setting up an SMSF investment strategy may help.
Because you've already paid tax on the balance in your previous super fund, you won't be taxed again when it's rolled over into your SMSF. Also, rolling over your exiting super balance does not count towards the contributions cap (there are limits as to how much you can contribute to your super each year, more on this below).
"I rolled over my super balance from a standard super fund into my SMSF using the ATOs online tools. It was much easier and more straightforward than I expected, as everything went smoothly once I provided all the required details."
Finder survey: How satisfied are Australians with the performance of their SMSF?
| Response | |
|---|---|
| Somewhat satisfied | 41.28% |
| Very satisfied | 33.94% |
| Neither satisfied nor dissatisfied | 12.84% |
| Unsure | 6.42% |
| Somewhat dissatisfied | 5.5% |
Source: Finder survey by Pure Profile of 1016 Australians, December 2023
Employer contributions
Your employer can contribute the compulsory superannuation guarantee into your SMSF like they would any other super fund. They'll pay you your super into an SMSF cash account, which is like a bank account that holds your SMSF cash until you choose how to invest it. The super guarantee is the percentage of your annual earnings that your employer is required by law to pay into your super. The current super guarantee is 12%, and this is the final rate under the legislated schedule - no further increases are planned.
SMSF members can receive employer contributions at any time and at any age into their SMSF cash account. In order to receive these payments you'll need to provide your tax file number when registering the fund.
Must read: Here's what you need to give your employer
- Your tax file number (they should already have this if you're an existing employee)
- Your SMSF's Australian Business Number (ABN)
- The BSB and bank account number for your super account
- The electronic service address you received when registering your fund. If you don't have an electronic services address yet, your fund's accountant or tax agent will be able to provide you with one
If you cannot provide this information, your employer will be forced to direct your super payments to their chosen default super fund, where it'll be held in your name until you're ready to roll it over into your SMSF.
Expert insight
"Rolling other super accounts into your SMSF can streamline your finances, cut down on fees and give you a clearer picture of your retirement strategy. Just ensure each rollover is completed correctly to stay compliant."
Personal contributions
You can make personal contributions to your SMSF on top of those paid by your employer if you wish. These will either be classed as concessional (pre-tax) or non-concessional (post-tax) contributions.
Concessional contributions
Because concessional contributions are paid to your super before you've paid any tax on that money, these contributions are taxed at the lower super tax rate of 15%. As this tax rate is likely a lot lower than the tax rate that would normally be charged on that income (which could be as high as 45% depending on which tax bracket you're in), it's beneficial to make these pre-tax contributions.
You're only allowed to make up to $32,500 worth of concessional contributions into your SMSF each year for the 2026-27 financial year (it's indexed to AWOTE in $2,500 increments, so check the current cap each 1 July). If your total super balance was under $500,000 at 30 June, you may be able to carry forward unused cap from the previous 5 years and contribute more. Concessional contributions include those made by your employer as part of the compulsory super guarantee, as well as income you've chosen to salary sacrifice into your super.
For example, let's say you earn $100,000 annually and your employer pays you $12,000 in super (12% super guarantee). Against the $32,500 concessional cap for 2026-27, you're able to contribute an additional $20,500 in concessional contributions each year.
Non-concessional contributions
Non-concessional contributions are contributions you make into your SMSF that you can't claim a tax deduction for. This is anything you contribute above the $30,000 concessional contributions cap.
You can contribute up to $130,000 in non-concessional contributions per year for 2026-27 (it's 4 times the concessional cap, so it moves whenever that cap is indexed).
If you're under 75 at any time during the financial year, you can bring forward up to $390,000 in non-concessional contributions over a three-year period, provided your total super balance (across all your super, not just your SMSF) was under $1.84 million at 30 June 2026. Between $1.84 million and under $1.97 million the bring-forward drops to $260,000 over two years, and between $1.97 million and under $2.1 million it's $130,000 with no bring-forward available. If your total super balance was $2.1 million or more (the general transfer balance cap, indexed to CPI and assessed each 30 June), you can't make any further non-concessional contributions.
Frequently asked questions
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My existing APRA fund is delaying rolling over my funds to my established SMSF, ut has now been a month since my initial request.
Hi Sally,
Your best bet is to reach out to the insurer to find out what the delay is and what your next steps might be. Best of luck!
For an inwards rollover into my SMSF which is in pension phase , as well as reporting the rollover in the annual return Section F, how do I report it in the Profit & Loss report and the Balance Sheet.
Hi Bob, This is a complex question – you’ll want to seek expert advice to ensure you’re doing the paperwork correctly.