WhySuper's Simple Sign Up Process
If you already have an SMSF, please sign up and log in to the portal here.
Step 1 - Sign Up
WhySuper makes starting your own SMSF a painless procedure.
The first step is to register an account with WhySuper, we will then send you an email to confirm your email address and set a password.
Step 2 - Complete Form
Once You Have Registered and Confirmed Your Email, You Should Receive a Link To Our Online Portal.
Once you have logged in, continue the process filling out our online form which should take approximately 10 minutes.
Step 3 - Sign The Establishment Documents
This will allow us to legally establish your SMSF and for us to apply on your behalf for a transaction bank account and a share trading account.
Once we have recieved the signed documents we will be able to create a valid trust deed from a lawyer for your SMSF. We will then apply for a Tax File Number and Australian Business Number for your super fund. This may take up to 30 days.
Step 4 - Congratulations you have now set up your SMSF
Additional things you can now do are:
- Rollover Existing Superannuation Benefits To Your SMSF Bank Account
- Start Investing
- Start Contributions to SMSF/Establish Pensions
- Complete Annual Tax Compliance
Once the ABN application has succeeded, you will be able to contact your existing superannuation fund and request a rollover form. Complete and send the rollover form back to your existing superannuation fund, and they will be able to send you a cheque to rollover this money into your new SMSF bank account. Once we have recieved the signed documents we will be able to create a valid trust deed from a lawyer for your SMSF.
You are now able to choose your own investments from a list of ATO approved investment classes. You will be able to manage this from the online portal. For an investment to be allowable it must meet the ATO guidelines, be part of an investment strategy, and be allowed in the trust deed.
At this point, the superannuation fund is completely established, so you will be able to start moving your employment contributions over to your new SMSF. All of the contributions must go to the SMSF Transaction Bank Account.
Once you have reached preservation age you have the option but not the obligation to commence a Pension. This means money is directed from your SMSF to your Personal Account. *Note, it is against the law to withdraw money to your personal account unless you have reached preservation age.
WhySuper will look after your annual tax and accounting compliance. WhySuper will be able to access the transactions and share buys and sells in order to look after your annual compliance matters. We will not be able to login to your bank or share trading accounts and our limited access will mean we are only provided with the information required for completing your annual tax return and accounts.