I've been arguing with a financial institution. They insist that they will NOT open an account for an SMSF when the status on Super Fund Lookup is 'Registered' - they are saying it needs to be 'Complying' and there might be cases where an SMSF will become registered but NOT become complying.
I disagree.
Based on an update the ATO made to Super Fund Lookup in August 2021 (or close), the status will always AUTOMATICALLY change from Registered to Complying.
"Within seven days of the SMSF being displayed on SFLU as 'Registered', a Notice of compliance will issue to the SMSF and their SFLU status will then be displayed as 'Complying'."
Source: Register your fund - Check your registration status
Hopefully, someone from the ATO can confirm that the change of status on Super Fund Lookup from Registered to Complying is automatic.
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