Setting up an SMSF with Corporate Trustee

To set up an SMSF with a corporate trustee, you will need to complete the following steps.  

Step 1: Set up an SMSF Special Purpose Company to act as the Trustee of the fund. There is an ASIC fee associated with this of $576. When you set the company up, you will only have the option to select one class of shares. This is the only one available for SMSF companies.

Step 2: Wait for the company to be registered and final documents sent to you. In these documents, the ACN will be populated and the ASIC Certificate as well. You will need the ACN for step 3. 

Step 3: Select the SMSF Establishment - with Corporate Trustee document. You will need to fill in the trustee details and the ACN from Step 1 and 2 above. 

Step 4: Complete an investment strategy document for the fund.

Step 5: Set up a binding death benefit nomination (SMSF Will) for the member.

 

Please be advised this is general information only, and is not to be taken as legal advice. If you would like more information, or have a legal query, please contact Abbott & Mourly directly.
Reviewed: 17/01/2024