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Re: Covid early access to super - wrong bank account number in myGov

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Enthusiast

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Newbie

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Hi Mate, 
While I applied for the early release of the super, I put one less digit in my bank account number!
Can you please suggest me the next step to fix the problem and get the money back to my account 

Thanks 

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I'm new

Replies 12

Wrong bankaccount
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Community Support

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Hi @daylight123, @Tahmid_12 and @Tyson1,

 

Thank you for reaching out to us. Please contact your Super fund and advise them you have provided the incorrect bank account details for the Early Super release. They should be able to address the matter with you. 

Hope this helps.

 

Regards,

JodieR.

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Enthusiast

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@daylight123 @Tahmid_12 @Tyson1 @Jodie2 

 

The ATO can revoke a determination in regards to the early release of super where someone has made a genuine mistake and issue a new determination with correct details and notify Super Funds accordingly !

 

Its covered on their website and it even states that the Super Regulations allow the ATO to revoke a determination.. quote  

" Revocation process

The ATO is working with individuals if it has established that the individual has made a genuine error in their application. In those cases, the SIS Regulations allow for the determination to be revoked. A significant proportion of those applications have involved the individual selecting the incorrect amount to be released from their super account; for example, they might input $10 instead of $10,000.

The individual is often not aware of this error until they receive the application approval correspondence or the actual payment.

To ensure that those individuals who have made a genuine mistake are not disadvantaged and unable to access the early release benefits, the ATO will revoke the first determination and issue a new determination. "

 

I know the above only mentions the example of an incorrect request amount, but it is only an example and on that webpage it mentions " genuine mistakes " a few times, and one would think that incorrect bank details and other errors would fall within that scope.

 

Can the ATO please look into this and provide everyone with the correct procedure to follow where they have made a genuine mistake?

 

This will greatly assist with problems associated with people trying to contact their own superfund and trying to get an official ATO notification changed, especially as it has been communicated to the Super Funds that it is the ATO that will be providing assistance and notifying of any change in determinations made.  

 

 

 

 

 

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Community Manager

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Hi @Annonymous1 

 

You’re right, we can revoke and re-issue determinations in certain circumstances due to genuine mistakes.

 

If someone enters an incorrect amount (eg. $10 instead of $10,000), they can contact us and we can revoke the first determination and issue a new determination.

 

If someone enters incorrect bank details, the only way to fix this error is to contact their super fund to provide the correct information and ensure the payment from the fund is received as soon as possible. The reason for this is that super funds are required to make payments as soon as practicable. The only reason we’re collecting bank details in the application form is to provide them to super funds and make it quicker for them to make payments - we don’t update these bank details for your tax records after the determination is made. Since applications are getting approved and payments are being made so quickly, it is faster for someone to correct bank details directly with their super fund, instead of contacting us to revoke and re-issue a determination.

 

I hope this helps clarify the process for different errors and the reasoning behind our advice.

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Enthusiast

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@NicolaATO 

 

thank you so much for the information.. but that does not assist anyone who's Super Fund will not change bank account details and will only rely on information contained in ATO release authorities.

Contacting a Super Fund that will not change bank account details is not faster and it just creates more problems and stress for all those involved.    All one needs to do is to have a look at some of the other posts in this thread to see that all this is fact.  

 

Its almost as if the ATO believe that all Super Funds will just automatically change details when contacted by a member, when in fact they will not.  Has anyone taken this into account ????

 

The legislation giving the Commissioner the authority to vary or revoke a determination before a release authority is issued, does not appear to be limited to any specific type of genuine mistake, so I can only infer from what the ATO is saying is that its an administrative decision to limit a variation or revokation to a dollar amount, which is having unintended adverse consequenses.

 

Anyone can make a request to the ATO to revoke or vary a determination and then the ATO must review that request and advise of the outcome and then that taxpayer has a right to have the matter reviewed, but this is a far longer approach and may not solve the issue.

 

In my opinion it would be far less stressfull for those that have made genuine simple mistakes to be able to have the ATO vary a determination with correct information and therefor issue a correct release authority, provided that a person notifies the ATO before a release authority is issued.    ... " before a release authority is issued " may be about the only legislative barrier but this would have to be reviewed  ...

 

MAYBE ...  someone in the ATO of proper authority can review the entire matter taking into account some of the above points, in particular that some Super Funds are not changing bank details, and excercise their discretion.... if they have any?  

 

The above is just a suggestion and I do not expect a response.   I shall leave this with the ATO, and hopefully someone in there can do something about this because it should be self evident that there are a number of taxpayers that have made genuine simple mistakes which are now causing them further hardship in some very trying times.

 

Thanks again

 

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Initiate

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Valid points but I wouldn’t hold my breath with ATO even attempting to remedy this situation majority of us tax payers are in. Here is another beauty you should all be aware off. If god forbid we humans make a mistake with our application for the release of these funds these XXXXXXX make you wait 28 days before they even look at the application.

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Newbie

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I was told on July 1st that from the ATO that they’ll escalate the amendment to the right department so they can fix it and process. However, I called them a few days ago only for them to tell me that it can’t be fixed and that the previous person I spoke with gave me the wrong information.

Waited 5 weeks for nothing only for them to turn around and say sorry we can’t fix it.
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Initiate

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Hey mate, That’s the kind of people the ATO have working for them. As per the state of emergency we are currently in these payments are supposed relieve the stress and burden off day to day living we the tax payer are currently in. ATO and it’s under qualified call centre operators are in fact doing the opposite and adding to the stress and heartache. Do not give them a inch to move waiting 5 weeks in between calls is suicide you need to put pressure on these people daily if you want what’s yours. There next generic answer to you will be “As per our service guidelines we can take up to 28 days to lodge your new application” Do not accept this yes 28 days is within there service guidelines for example a error was made on your tax return etc but not in this case. This is a EMERGENCY RELIEF PAYMENT. Start by lodging a complaint with the ATO.