The ATO requires SMSF trustees to use the superannuation transfer balance account report (TBAR) to advise it when a transfer balance account event occurs. It uses this information to adjust a fund member’s transfer balance account so it can correctly apply the transfer balance cap provisions.
SMSF trustees are required to report the following events:
super income streams in existence just before 1 July 2017
any of the following events that occur on or after 1 July 2017
super income streams that have commenced in retirement phase
limited recourse borrowing arrangement payments
compliance with a commutation authority issued by the Commissioner
personal injury (structured settlement) contributions
super income streams that stop being in the retirement phase, for example because the trustee failed to meet the minimum pension payment standards for an income stream.