Announcements
Read our answers to common questions about JobKeeper, Early release of super and Cash flow boost.

ATO Community

FHSS Release request not received by Super?

Highlighted

Newbie

Views 231

Replies 1

Hi Everyone,

Just wanted to understand the process of FHSS release. I made a release request on 8 Feb 2020. I contacted today my Super (SunSuper) and they informed me that they haven't received any request. I contacted ATO and they said they have submitted the request. There is no common number that gets generated in ATO that I can provide to Super to check? I am just stuck between ATO and Super at the moment.

It's super urgent for me as I have entered into a property purchase contract on 7 Feb 2020 and it will be canceled on 21st Feb 2020 if my finances are not sorted out.

Any help or pointer would be highly appreciated.

 

Just tagging ATO users to hopefully get some reply. @NicATO @ektran @Natalie16 @Gooso @Emily492 @swhite 

 

Thanks,

Niraj

1 ACCEPTED SOLUTION

Accepted Solutions
Highlighted

Best answer

ATO Certified

Community Support

Replies 0

Hi @nirajbhatt

 

Thanks for your question.

 

After you have submitted a FHSS release request, we will issue a release authority to your super fund requesting they send your FHSS release amounts to us. In most cases, it will take between 15 and 25 business days for your fund to release your money and for us to pay it to you.

 

For more information about requesting the release of your savings, check out the applying to release your savings section of the first home superannuation savings scheme on our website.

 

Considering that you submitted your FHSS release request on 8 February and your finance deadline is 10 business days later, it may be a good idea to look at getting an extension on the finance clause of your property purchase contract. If you explain why the the extra time is needed, hopefully the seller will be happy to provide it to you.

 

In the meantime, you could try contacting your super fund again to find out whether they have received the release authority from us. if they have, perhaps you could get them to process it quickly for you.

 

Also, if you are arranging finance with a lender and they are waiting for the balance of the FHSS released amount to be in your account before approving your loan, we recommend that you let them know what is happening.

 

Hope this helps.

 

Thanks,

 

ChrisR

1 REPLY 1
Highlighted

Best answer

ATO Certified

Community Support

Replies 0

Hi @nirajbhatt

 

Thanks for your question.

 

After you have submitted a FHSS release request, we will issue a release authority to your super fund requesting they send your FHSS release amounts to us. In most cases, it will take between 15 and 25 business days for your fund to release your money and for us to pay it to you.

 

For more information about requesting the release of your savings, check out the applying to release your savings section of the first home superannuation savings scheme on our website.

 

Considering that you submitted your FHSS release request on 8 February and your finance deadline is 10 business days later, it may be a good idea to look at getting an extension on the finance clause of your property purchase contract. If you explain why the the extra time is needed, hopefully the seller will be happy to provide it to you.

 

In the meantime, you could try contacting your super fund again to find out whether they have received the release authority from us. if they have, perhaps you could get them to process it quickly for you.

 

Also, if you are arranging finance with a lender and they are waiting for the balance of the FHSS released amount to be in your account before approving your loan, we recommend that you let them know what is happening.

 

Hope this helps.

 

Thanks,

 

ChrisR