What Documents do we need to ensure SMSF compliance?

By October 19, 2015 Auditing, SMSF No Comments

If you have a new SMSF set up during the year, we need these documents to audit your fund for compliance with the legislation:

Permanent Compliance Requirements

  • Copy of signed Trust Deed or any Trust Deed amendments during period
  • Copy of ATO correspondence including TFN, ABN
  • Details of all Trustees/Trustee Company Directors including evidence of DOB, and full name.
  • Copy of signed consent to act as trustee documents
  • Copy of signed fund member application forms
  • Copy of signed ATO Trustee Declaration

Annual Compliance Requirements

  • Signed Letter of Engagement (We provide the template)
  • Signed Trustees Representation Letter (We provide the template)
  • Copy of latest ASIC annual company statement (Corporate Trustee only)
  • Signed Investment Strategy
  • Signed Trustee minutes for year
  • Signed Income tax/SMSF Annual return
  • Documents to support contributions (employer and/or member) received for period (e.g. Employer remittance advices, fund trustee minutes)
  • Copies of any rollover documentation (if applicable)

Financial Records

  • Year end financial statements including annual members statements
  • Copy of accounting workpapers and transaction reports for the period eg general ledger, cashbook, reconciliations etc
  • All documentation must be in the name of all Trustees as trustee for the SMSF.
  • Cash and equivalent
    • Bank statements for the year
    • Statements confirming details and movements of Term deposits, fixed interest securities or similar
  • Listed shares
    • HIN/SRN or Chess Statements
    • Broker statements showing share purchases/sales
    • Dividend statements for all shareholdings
    • Value at close of trading 30th June
  • Unlisted shares
    • Unit or share certificates
    • Year end financial statements for each company or trust
    • Dividend/distribution statements
  • Managed funds
    • Acquisition/withdrawal documentation
    • Annual manager statements confirming ownership and value
    • Distribution statements
    • Year end valuation
  • Property
    • Copy of rates notice showing Lot and Plan number
    • Certificate of Title – in addition we need to conduct a verifying search.
    • Details of method used to value property (Annual valuation required if in pension mode)
    • Rental agreements and statements
    • Building insurance policy
    • Loans (if applicable) – signed loan agreement and details of any relationship to Trustees
    • Financial statements – rental income, rates, insurance, repairs, maintenance, utilities, etc.
  • Other assets eg collectables
    • Purchase and sale agreements
    • Details of storage, security and insurance
    • Lease agreements
    • Current valuation at June 30th


  • Invoices or statements supporting expenditure
  • Copies of Insurance policy documents confirming owner, life insured, cover and premiums
  • Where expense has been paid outside the SMSF (eg personally), it has to be treated as both a contribution and expense

Pension payments

  • Copy of signed pension request form member to Trustee and acceptance by Trustee
  • Signed confirmation of Benefits
  • Minutes (Change to account based pension)
  • Work papers calculating benefits and being within the maximum and minimum pension
  • PAYG payment summaries for pensions paid
  • Rollover statements for any monies rolled out of fund
  • Documentation confirming member condition of release