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One of the conditions for accessing the Covid-19 early release of super is that individuals could submit one application for the 2019-2020 financial year, and one application for the 2020-2021 financial year (ie a maximum of two applications, one within each respective financial year period).
If you've accessed your super more than once within a single financial period, then this may be in breach of the conditions. If you've made a mistake, you should contact us for further assistance as soon as possible so we can talk about the circumstances.
We look forward to your call.
A similar question was asked in our Community back in April. You can check out our response here:
You will see that what you are describing is known as an in-specie payment. Super lump sums cannot be made in-specie where the payment relates to super released in accordance with the COVID-19 measure.
This means that your COVID-19 early release of super payment can only be made as a cash payment. We suggest that you ask your SMSF auditor how they would like you to rectify this. If they're not sure what action would be appropriate, they can take advantage of our help and resources.