Transfer of Administration

Terminating with Supercorp

This Fact Sheet explains the basic process for a smooth transfer to your new administrator, if you choose to terminate with Supercorp Administration.

When you first advise us of your decision to terminate with our office, our Trustee Services Manager will call you to discuss the details. You will be asked a couple of simple non-invasive questions about your reasons for terminating so we can improve our services in future. All feed back, especially negative feedback is valued and reviewed carefully for product and service improvement opportunities.

You will also be asked to provide details of the transfer arrangements you require. If you are appointing a new administrator they will usually liaise with our office on your behalf after the initial instructions are provided.

Effective Date for Termination

We require a minimum of 30 days notice to arrange transfer of fund administration. If your fund has work to be completed prior to transfer the timing will be discussed with you before you determine the best date for effective termination.

Most Trustees arrange to transfer administration between financial years. So 30 June is the close of the financial year and the new administrator takes over from 1 July with the administration going forward.

If you are a daily client you will be paying for accounting and tax return preparation in advance. Similarly if you are an annual client you may have had work completed for your fund since the last invoice was provided to you.

If either situation is applicable to you, please consider allowing our office to complete this work for your fund to avoid costly rework by your new administrator. We do not provide refunds on termination and the processing can not be transferred to your new accountant.

All administration services cease on the effective date except for those outlined to be completed prior to transfer.

Daily Administration Services

For Daily Administration services the day to day processing will cease on the effective date for termination. The website access will also be closed on the effective date of termination.

We will first notify DDH Graham to update your contact and address details. Then you will receive a letter returning cheque books and advising that the daily services have been terminated as arranged. If your fund is paying pensions ensure you monitor any periodic payments in place as they will continue unless you cancel or alter them directly with DDH Graham.

It is vitally important that you attend to the mailing address updates as soon as possible so that you receive notification of any payments requiring action early. This will mean that we may need to contact you to obtain copies of information sent directly to you that relates to work we are finalising.

We will forward any mail received by our office with reminders to you to update addresses. After six months any mail received will be archived and retrieval costs will apply to access these records.

If we have work to complete for your fund, we will forward all current year financial information held on disk with the fund records and deeds.

Fund Records & Deeds

We hold your fund records for auditor review including trust deeds, minutes and other important documents.

After all work has been completed, audited and lodged these documents will be collated for transfer. This can not be done before work is completed as all records need to be available for audit review and the fund records need to be updated with the final lodged documents and minutes.

When the documents are ready to transfer we will contact either the new administrator or the Trustee to arrange collection in person or by courier from our reception. These documents are important and difficult to replace, which is why our preferred policy is not to send them by mail.

As Trustee if you specifically require the documents posted, please advise our office in writing or by email and please understand we will be unable to take any responsibility for the documents once they leave our premises.

After your new administrator receives your fund documents from our office they will have one month to review and request additional information before we archive our files. Your new administrator will also update all details with the ATO by appointing themselves tax agent to ensure we no longer receive your fund notices.

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