I am in the process of setting up a new SMSF for my self with a corporate trustee(e.g XYZ Pty Ltd.). I need your expert advice for the following scenario;
1. My Corporate entity name is XYZ Pty Ltd
2. My Trust name is the same XYZ Pty Ltd
3. As per ABN SMSF name is "The Trustee for XYZ Superannuation Fund"
Westpac is not allowing me to open a bank account for my SMSF. They are asking me for the matching name for my Trust and ABN. Could you please advise if I can update my ABN details as "The Trustee for XYZ Pty Ltd Superannuation Fund"? Or can it be just XYZ Pty Ltd?
Bank account is always: XYZ Pty Ltd ATF XYZ Superannuation Fund
ABN = SMSF ABN If XYZ only acts as SMSF trustee, then it should have a TFN, but not an ABN.
TFN = SMSF TFN
Often better to open SMSF bank accounts online, because bank staff do not know enough about it.
