To assist Aware Super with the creation of new member accounts and allocating contributions, it is important that TFNs are provided when you send us a new member request or a contribution.
Generally, super funds use a member’s TFN,
- to validate the initial member registration data with the ATO
- as a primary identifier to link contributions and rollovers with member accounts
- to identify and consolidate multiple super accounts within the fund.
When a member gives their TFN to you, their employer, you are obligated to pass it on to their superannuation fund.
Why TFNs make super easier
It is not compulsory for a member to quote their TFN to a superannuation fund, however, providing a TFN (either directly or via an employer) ensures;
- a super fund can accept all permitted types of contributions to an account
- other than the tax that may ordinarily apply, members will not pay more tax than they need to when making contributions or withdrawing benefits
- ease in finding and consolidating different super accounts in the member name.
In addition, if a superannuation fund does not hold a member’s TFN, it could prevent the member receiving a government super co-contribution.
Employee details you need to provide
For a new member registration, an employer must give the following information to the fund (unless the employer has made reasonable efforts to get the information from the employee and been unable to do so):
- employee’s full name
- employee’s residential address
- employee’s tax file number (TFN)
- employee’s date of birth
- employee’s sex
Ultimately, providing an employee’s TFN has benefits for both the employer and their employee, and enables Aware Super to seamlessly create new accounts and allocate contributions.
If you have any queries on paying your SG obligations, contact our Employer Relations team at firstname.lastname@example.org.