Hi Team,
When I login into ATO through myGov, I can see there is a super balance which ATO is holding. I would like to know why ATO is holding this super balance and can I withdraw ATO held super balance or do I need to transfer it to the current super account?
Hi @svenkatapuram,
If the balance a superfund holds for you drops too low and your account is inactive, the fund transfers it to us. We then hold the super for you to avoid fees reducing the amount further. You have a few options depending on your situation to access the ATO held super. If the amount is below $200, or you're at least 65 years old, we can pay it directly to you. Otherwise you can have it transferred to another superfund if you have one. You can do this either online through myGov, or through a paper form. Our page on ATO held super runs through everything you should need to know!
Hi @svenkatapuram,
If the balance a superfund holds for you drops too low and your account is inactive, the fund transfers it to us. We then hold the super for you to avoid fees reducing the amount further. You have a few options depending on your situation to access the ATO held super. If the amount is below $200, or you're at least 65 years old, we can pay it directly to you. Otherwise you can have it transferred to another superfund if you have one. You can do this either online through myGov, or through a paper form. Our page on ATO held super runs through everything you should need to know!
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