What is the SMSF Annual Trust Deed Update?

The Annual Update Service provides a convenient and sound way of ensuring that SMSFs' governing rules are kept up to date. This in turn gives SMSFs maximum strategic flexibility, compliance and peace of mind.
It works on the following basis:

  • Upon subscription, an SMSF is given a secure Homepage which you can log into from the DBA website.
  • Tailored resolutions can be downloaded from the homepage.
  • New governing rules (and accompanying PDS materials) for the SMSF are contained on the SMSF's homepage. By executing the tailored resolutions, those governing rules will become the governing rules for the SMSF.
  • Every 1 July, the following will occur:
    • A new set of governing rules will be added to the SMSF's homepage. This by itself has no legal effect.
    • Trustee resolutions adopting the new governing rules will be placed on the SMSF's homepage and a reminder will be emailed out.
    • The resolutions are printed and executed by the relevant parties. Upon execution, the new governing rules will be adopted by the SMSF.

Advisers log in just like anyone else, but they have their own personalised adviser homepage. On the adviser homepage, advisers see a list of all of their SMSF clients who subscribe to the Annual Update Service. Advisers can drill down to the homepage of each SMSF, where advisers can access the current and all prior versions of the governing rules for each of their SMSF clients. Advisers can also upload scanned copies of executed resolutions as well as scanned copies of any prior documents (eg, deed of establishment). This way, each SMSF's Homepage can become a repository for the SMSF deed documents. All SMSF clients will have the same governing rules each financial year. This means that advisers only need to familiarise themselves with one set of governing rules.

If you like, you can nominate that one or more of your advisers has access to your SMSF's personalised homepage. Typically these advisers include accountants, auditors and financial planners. If you do not want to allow any advisers to have access to the homepage, this is also fine.

Important Information & forms
Terms of use;
Direct debit request form;
Direct debit request service agreement;
Direct debit request withdrawal form; and
Stamping Memo.

We have DBA Lawyers (Australia's leading SMSF law firm) prepare SMSF governing rules for our SMSFs. This page links to DBA Lawyer's website. For more info on DBA Lawyers, refer: www.dbalawyers.com.au

Login to the Annual Update Service