Hi,
I have an Industry Super with MLC. Some time ago, me and my wife also created an SMSF together. I then transferred money from my MLC account to the SMSF (only me). Money in the SMSF was not used for anything, except that there's some interest earned.
We have recently decided to close the SMSF and rollover all the money back into my MLC account.
What I've understood is that ATO mandated process is to use some automated system that uses "Fund Validation Service (FVS)" to process the rollover. My accountant has started the process and eventually got to a point where FVS provided a BSB/Account number of MLC's account where I need to transfer the money before rest of processing can happen.
I'm using following webpage to try and understand the process (see section: Rollovers out of your SMSF to an APRA-regulated fund)
My accountant asked me to contact MLC to confirm the bank information before we make the actual transfer. When I've contacted MLC, they seem to be unaware of this process. According to them the money needs to be paid through BPay somehow. They are not sure of the bank info provided by FVS (which I assume is maintained by ATO).
Can you please clarify that if my understanding is correct or not, and if we need to transfer money to the BSB/Account provided by FVS?
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