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Re: Corporate Trustee SMSF Name

Newbie

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Replies 1

Hi SMSF Experts,

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? 

 

Kindly advise. Thanks.

 

1 ACCEPTED SOLUTION

Accepted Solutions

Most helpful response

Devotee Registered Tax Practitioner

Replies 0

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.

 

 

 

1 REPLY 1

Most helpful response

Devotee Registered Tax Practitioner

Replies 0

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.