Document ID: chunk:federal_register_of_legislation:F2024C01224:front:0:p46
Version: federal_register_of_legislation:F2024C01224
Segment Type: other
Provision Reference: 
Character Range: 116671–119281

evidence of a visa, see regulation 2.17 of the Migration Regulations 1994.
 (3) The RSA provider must be satisfied, based on a written statement from the Department administered by the Minister administering the Migration Act 1958, that:
 (a) the RSA holder was a temporary resident but the RSA holder's temporary visa has ceased to be in effect; and
 (b) the RSA holder has left Australia.
 (3A) For subregulation (3), the statement may be in electronic form.
 (4) The benefits must be cashed in the period mentioned in subregulation (5):
 (a) as a single lump sum that is at least the amount of the RSA holder's withdrawal benefit in the RSA; or
 (b) if the RSA provider receives any combination of contributions, transfers and rollovers after cashing the benefits:
 (i) in a way that ensures that an amount that is at least the amount of the RSA holder's withdrawal benefit in the RSA is cashed; and
 (ii) without requiring an additional application from the member.
 (5) For subregulation (4), the period is:
 (a) if the RSA provider receives a request from the RSA holder not later than 31 October 2002—3 months after the request is lodged; and
 (b) in any other case—28 days after the request is lodged.
Note: A payment made under this regulation is a departing Australia superannuation payment within the meaning of section 301‑170 of the 1997 Tax Act.

4.23B  Cashing of benefits in an RSA—payment to Commissioner of Taxation
  If an RSA provider is required to pay an amount to the Commissioner of Taxation under the Superannuation (Unclaimed Money and Lost Members) Act 1999, or chooses to pay an amount to the Commissioner of Taxation under Part 3D of that Act, for a person's interest in an RSA, the amount must be cashed in favour of the Commissioner of Taxation as a lump sum.
Note: An amount required to be paid under the Superannuation (Unclaimed Money and Lost Members) Act 1999 must be paid by the time required under that Act.

4.24  Compulsory cashing of benefits
 (1) Subject to subregulation (4), an RSA holder's benefits in an RSA must be cashed as soon as practicable after the RSA holder dies.
 (3) The form in which benefits may be cashed under this regulation is:
 (a) a single lump sum in respect of each person to whom benefits are cashed; or
 (b) subject to subregulations (3A) and (3B):
 (i) 1 or more pensions, each of which is a superannuation income stream that is in the retirement phase; or
 (ii) the purchase of 1 or more annuities under the SIS Regulations, each of which is a superannuation income stream that is in the retirement phase.
Note: For the cashing requirement