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Early Release Of Super went to Wrong Super Fund

Initiate

Views 1845

Replies 9

I was approved for early release by ATO but have just realised they have sent it to the wrong super fund. The one that ATO sent it to doesn’t have enough funds to cover but my other one has plenty. How can I fix the problem?
1 ACCEPTED SOLUTION

Accepted Solutions

Most helpful response

Devotee

Replies 1

Ok.

 

You will need to ring your nominated fund (the one on the letter you received) FIRST THING on Monday and instruct them to not make any payment, and take no further action, as you have made an error in your application. Just because it is not yet in your bank account doesn't mean they haven't processed the payment.

 

Once you have done that you will need to ring the ATO (13 10 20) and ask them to amend your application due to you selecting an incorrect super fund to withdraw from. I recommend you have information about the super fund you are wishing to withdraw from with you (member account number for example) handy.

 

The ATO will then take information from you over the phone, and will then initiate the process to amend your application.

9 REPLIES 9

Devotee

Replies 3

Has the nominated super fund made payment to your bank account?

 

were you wanting to have funds come from each of your funds, or all from the 'other' fund?

 

If you believe you asked for amounts to come from each fund then I recommend you look for your approval letter in your myGov inbox and have a look at what fund/s were nominated to debit, and how much.

 

If the answer to the first questions is no, and a) they confirm this to you on Monday, and b) you wanted the funds to come solely from the other fund you hold, then you should instruct the first super fund to place a halt on the processing of the payment and phone the ATO on Monday to have your application amended.

 

If you nominated to debit an amount from each super fund when you applied you may not need to take any further action.

Initiate

Replies 2

No I haven’t been paid. I have 2 super accounts and I only wanted it to come from the one I have most funds in, the old Super account has very little in it. I have already read the letter sent and that’s where I realised my problem is as it states it was to come from a Super Fund that has very little in it. I must have missed something in my application about ‘choosing’ who the funds are to come from and I’m assuming it must have just come from the first one on the list.
I guess all I can do is ring the Tax Office to try to have it sorted

Most helpful response

Devotee

Replies 1

Ok.

 

You will need to ring your nominated fund (the one on the letter you received) FIRST THING on Monday and instruct them to not make any payment, and take no further action, as you have made an error in your application. Just because it is not yet in your bank account doesn't mean they haven't processed the payment.

 

Once you have done that you will need to ring the ATO (13 10 20) and ask them to amend your application due to you selecting an incorrect super fund to withdraw from. I recommend you have information about the super fund you are wishing to withdraw from with you (member account number for example) handy.

 

The ATO will then take information from you over the phone, and will then initiate the process to amend your application.

Initiate

Replies 0

Yep I got onto ATO this morning and they have advised to do all of the above, so I’ll get straight onto it on Monday morning. Thanks so much for your help

Initiate

Replies 4

Hi Sue, i have made the same mistake as you and i have called ATO on the 24th of April to amend on which the agent amended it to the correct super fund. The agent sent it to another department to process it. I still havnt recieved an outcome. I have also called numerous times to get an update and they’re reply was it is still being processed. Im wondering if you have recieved a positive outcome yet?

Initiate

Replies 3

Hey Joe187
I applied on the 19 April rang them on the 25th once I realised the error I had made and they said it’d take about 5 days for them to call back. Didn’t hear back so called again on the 30th April they told me to contact my incorrect super fund and put a halt to payment, which I did immediately, I also had to call my correct super to get required details and have those and my bank details ready for when I got a call back. And I still didn’t get a call back by the 8th May, so I once again called back!!!! I had to give all the details, once again, and the lady put all that in an email to send to the appropriate dept. and was told that due to the high number of errors I just had to.....patiently wait!!! OK!!! I’m unemployed and am not entitled to ANY govt funding so have ZERO income so yeah I’ll just patiently wait while having to borrow money from family to survive.....sure!! I WILL be calling them again later this week if I haven’t heard back 🤬

Newbie

Replies 2

I am.currently having the same issue.
My application was in fact re keyed on the 31st of July.

After countless calls to the ATO i was assured my issue had been escalated and was in a priority cue.
Unfortunately this issue has not been resolved and I am on the edge of homelessness as I was relying on these funds.

I have lodged a complaint with the ATO and the OMBUDSMEN.

They have been unable to resolve the issue and combined with stage 4 lock down my mental health has been extremely compromised. I don't know what to do.
If anyone can, PLEASE help.

Newbie

Replies 1

hi Smiley Happy just wondering if you were able to get this resolved, we have a similar issue and are really in trouble if we can't get the funds. 

Initiate

Replies 0

Hi, yes I eventually did get it resolved. It did take about 5 weeks though and I was calling them every week to try to get it resolved but in the end I could only wait for them to call me 🤨 it was very frustrating at the time! Good luck I hope your wait isn't as long as mine 🤞🏼