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Re: SMSF - Election to be regulated is being processed.

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Newbie

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Hi 

How long does this process take to complete? Lodged Election to be regulated on 10 September website is still displaying the same message "election to be regulated is being processed, please try on or after 25 September" every time we call noone can really give us a direct answer it is really frustrating as my existing superfund is not able to process the rollover... THanks 

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ATO Certified

Devotee

Replies 1

Hi @adenjvc 

 

You need to allow at least 28 days for your application. During that time the fund will either be registered or you'll get a call if something needs to be reviewed.

 

JF

 

This is my personal view; I’m an ATO employee who chooses to help out here in my own time.

4 REPLIES 4
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Best answer

ATO Certified

Devotee

Replies 1

Hi @adenjvc 

 

You need to allow at least 28 days for your application. During that time the fund will either be registered or you'll get a call if something needs to be reviewed.

 

JF

 

This is my personal view; I’m an ATO employee who chooses to help out here in my own time.

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Newbie

Replies 0

Hi @JamesF 

 

thank you very much for your response. But this is the first time I am hearing about the 28 days processing time. I was told a few days ago that I need to allow 21 days to be processed (which passed yesterday) ABR website does not mention anywhere the 28 days processing time, it simply keeps on telling me to check after 25 September which clearly has passed. Even yesterday when I had a conversation with someone from your office I was told that it should be updated by COB yesterday but still the matter has not moved. It's just very frustrating when you get told different information from different people thats all. 

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I'm new

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I am having the same issue with "Election to be regulated is being processed".

 

I lodged my application on the 3rd of October and I've contacted the ATO on 2 occasions recently. All they can tell me is that there is no "case officer" assigned to my application as yet and there is absolutely NOTHING i can do to expedite this unless I make a complaint which also does NOT gaurantee that will do anything to speed up the process either. 

 

Just like to say this workflow from the ATO sucks. I don't mind if the ATO are investigating but that's not the case. 

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ATO Certified

Community Support

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Hi @cattleclass

 

Welcome to our Community.

 

We appreciate that it can be frustrating when we take longer than 28 days to review a new self-managed super fund (SMSF) application and update the Super Fund Lookup. While it can take longer when we decide to investigate the application further, there are other times when it can also take longer.

 

Last financial year, there were almost 20,000 SMSFs established. Using that number as a guide, we averaged close to 1700 applications a month. Of course the application numbers go up and down throughout the year. Delays can occur at certain times of the year when there is an increase in SMSF applications.

 

If you would like to check out some statistics, you can have a look at the SMSF quarterly reports on our website.

 

One of our responsibilities as the regulator of SMSFs is to ensure that newly registered funds meet the requirements. We do not automatically accept every registration application we receive.

 

For more information about registration application delays, refer to our website.

 

The information that you have been given by our contact centre staff is correct. If it has been more than 28 days, the Super Fund Lookup hasn't been updated and the case hasn't been assigned yet, we can only ask that you be patient. We will try to move it along as quickly as we can.

 

If there are particular reasons as to why you need it done sooner rather than later and you feel that we are taking too long, you do have the right to submit a complaint.

 

For more information, refer to the complaints page.

 

Hope this helps.

 

Thanks,

 

ChrisR