Document ID: chunk:federal_register_of_legislation:C2022C00273:section:21a:p1
Version: federal_register_of_legislation:C2022C00273
Segment Type: section
Provision Reference: s 21A (pt 1/2)
Character Range: 120881–123411

21A  Statements on accounts of eligible rollover funds

Statements for ERF low balance accounts held on 1 June 2021
 (1) A superannuation provider who is a trustee of an eligible rollover fund must, by the end of 30 June 2021, give the Commissioner a statement, in the approved form, of information relevant to either or both of the following:
 (a) each account (an ERF low balance account) that, as at the end of 1 June 2021:
 (i) was held by the fund on behalf of a person (an eligible rollover fund member); and
 (ii) had a balance of less than $6,000;
 (b) the administration of any of the following in connection with each ERF low balance account held by the fund:
 (i) this Part;
 (ii) the Superannuation (Departing Australia Superannuation Payments Tax) Act 2007;
 (iii) the Income Tax Assessment Act 1997, Part 3AA of this Act, and Chapters 2 and 4 in Schedule 1 to the Taxation Administration Act 1953, so far as they relate to this Part or the Superannuation (Departing Australia Superannuation Payments Tax) Act 2007.
Note 1: If an account is an ERF low balance account as at the end of 1 June 2021, it will remain an ERF low balance account even if the balance of the account subsequently equals or exceeds $6,000.
Note 2: If the balance of an account as at the end of 1 June 2021 equals or exceeds $6,000, it will not become an ERF low balance account even if the balance subsequently falls below $6,000.
 (2) The statement under subsection (1) is not required to contain information relevant to an account that, as at the calculation time under subsection 21C(1) in relation to the account, is no longer held by the fund.
 (3) If, at the end of 1 June 2021, there are no ERF low balance accounts held by the fund, the statement under subsection (1) must say so.

Statements for other accounts
 (4) A superannuation provider who is a trustee of an eligible rollover fund must, by the end of 31 January 2022, give the Commissioner a statement, in the approved form, of information relevant to either or both of the following:
 (a) each account (other than an ERF low balance account) that, as at the end of 1 June 2021, was held by the fund on behalf of a person (an eligible rollover fund member);
 (b) the administration of any of the following in connection with each account held by the fund that is an account of a kind mentioned in paragraph (a):
 (i) this Part;
 (ii) the Superannuation (Departing Australia Superannuation Payments Tax) Act 2007;
 (iii) the Income Tax Assessment Act 1997, Part 3AA of this Act,