Document ID: chunk:federal_register_of_legislation:F2016C01039:body:0:p1
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RSA Data and Payment Standards 2013

as amended

made under subsection 45B(3) of the Retirement Savings Accounts Act 1997.

This compilation was prepared on 25 November 2016 taking into account amendments up to RSA Data and Payment Standards (Payments and Information from the Commissioner of Taxation) Amendment 2016 (F2016L01738).

Compilation date 12 November 2016

Compilation number 2

Prepared by Superannuation Business Line, Australian Taxation Office.

    1               Name of Standard

   This Standard is the RSA Data and Payment Standards 2013.

    2               Commencement

   This Standard commences on the day after its registration on the Federal Register of Legislative Instruments.

    3               Application

   This Standard determines the standards[1] relating to data and payment matters relating to RSAs[2].

    4               Who is covered by this Standard

   This Standard is applicable to:

        (a)         RSA providers; and

        (b)         employers in their dealings with RSA providers.[3]

    5               When the Standard applies

   Subject to clause 6, this Standard applies to conduct by an entity as follows:

        (a)        an RSA provider, in relation to rollovers and transfers as the transferring entity or receiving entity, on and after 1 July 2013;

        (b)        an RSA provider, in relation to receiving contributions from employers, on and after 1 July 2014;

        (c)         an RSA provider, in relation to receiving payments from, and returning amounts required to be repaid to, the Commissioner of Taxation on and after 14 November 2016;

        (d)         a medium to large employer, in relation to contributions for an employee, on and after 1 July 2014; and

        (e)         a small employer, in relation to contributions for an employee, on and   after 1 July 2015.

    6               The Standard does not apply to certain transactions

    This Standard does not apply to an RSA provider in relation to a closed product.

    Closed product for the purposes of clause 6 means a product that does not receive any contributions or rollovers, whether from an existing RSA holder or any other person, but that may rollover or transfer an RSA holder's withdrawal benefit to another RSA provider or a superannuation entity.

    7               This Standard incorporates by reference documents or content on a website as existing from time to time

        (a)         A reference to a document in a Schedule to this Standard is a reference to that document by that name published from time to time by the Commissioner of Taxation and available at www.ato.gov.au.

        (b)         A reference to a document or content on a website in a document referred to in paragraph 7(a) of this Standard, is a reference to that document or that content at that website address as it exists from time to time.

        (c)          This Standard incorporates by reference the documents referred to in paragraph 7(a) and the documents and content on websites referred to