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Re: ABN And TFN

Newbie

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Replies 1

Hi Team,

 

Could you please assist us to apply ABN & TFN for the scenario mentioned below?

 

Scenario 1 - We have ABN & TFN for the fund called XXXX Family Super Fund, which has been established on 20 December 2017 and got the ABN & TFN as well for the fund this fund has a sole Member/Director and then we have lost the fund and discontinued all the business activity but ABN is still active for the fund and director name is Stephen.

Scenario 2 - We have again established the fund on 20 Jul 2021 with the same name Family Super Fund, with two Members/Directors as follows Elizabeth and Stephen).

Can we apply for the ABN & TFN for the new funds which we have established on 20 July 2021 (Family Super Fund) with two directors/Members as the fund name is the same and ABN is still active for the fund which is lost now.

Or If we can not apply for the ABN & TFN, what else would be needed for the fund established on 20 July 2021.

 

**personal details removed by moderator****

1 ACCEPTED SOLUTION

Accepted Solutions

Most helpful response

ATO Community Support

Replies 0

Hi @Mahiyadav0203,

 

Just to clarify, what do you mean by "lost the fund"? Do you mean you have wound-up your SMSF? Because, once a fund is wound up, it can’t be reactivated.

If it hasn't been wound-up, and you want to change the members/trustees in it, then you could continue to use the same ABN and TFN and notify us within 28days of the changes you're making.

You can update the details of the SMSF through a Tax Agent or online through the ABR.

 

**Edited 27/07**

1 REPLY 1

Most helpful response

ATO Community Support

Replies 0

Hi @Mahiyadav0203,

 

Just to clarify, what do you mean by "lost the fund"? Do you mean you have wound-up your SMSF? Because, once a fund is wound up, it can’t be reactivated.

If it hasn't been wound-up, and you want to change the members/trustees in it, then you could continue to use the same ABN and TFN and notify us within 28days of the changes you're making.

You can update the details of the SMSF through a Tax Agent or online through the ABR.

 

**Edited 27/07**