Unclaimed superannuation money (USM) statement specification v5.0.1

Version
5.0.1
Original Published Date
Tax Category
Superannuation
Resource Type
Specifications
Description

This specification is to be used in the development of software for the lodgment of electronic unclaimed superannuation money, former temporary resident and small and/or insoluble account information to the Tax Office.

Electronic reporting specification version 5.0.1 of the Unclaimed superannuation money (USM) statement has been published to update and clarify information content. This version of the specification replaces version 5.0.0. A tracked version of the changes has also been published for your information. A description of changes follow:

Differences between version 5.0.0 and version 5.0.1

General key changes:

Section 2 Legal Requirements has been updated:

  • Reporting obligations
    - Added Sections 20E and 20F of the Superannuation (Unclaimed Money and Lost Members) Act 1999
  • How to Pay
    - Address updated
  • Reporting of a non-lodgment advice (NLA)
    - Wording changed to advise super funds of the correct process for reporting a NLA

Changes to data records, values and definitions:
There have been no changes to data records, values and definitions for this version of the specification.

Any enquiries/comments regarding this manual should be directed to the Software Industry Liaison Unit at SILU@ato.gov.au.

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With the introduction of member status code G in the Unclaimed superannuation money (USM) statement electronic reporting specification at data definition 7.99 Member status field, it has been identified this change has not been reflected in the matrix table in data definition 7.57 Non-lodgment advice (NLA) or the information box at 7.61 . The updated matrix table and information box will be incorporated in the next version of the USM specification. In the interim please refer to the following updated matrix table and information box.

Matrix to use with data definitions 7.57 and 7.58

Reportable Unclaimed Super accounts Reportable Small or insoluble accounts Value of NLA (Y/N) Valid NLA reasons Members reported? Valid member statuses
true true N blank yes U, N, P, Q, G
true false Y K yes U, N
false true Y J yes P, Q, G
false false Y V no N/A

Information box to be used with data definition 7.61

This field must be completed where the Non-lodgment advice (NLA) field is Y or the statement contains any member records with a Member status of U (unclaimed), N (no longer unclaimed), Q (SLM account), P (ILM account) or G (no longer lost).

You are also reminded that reporting an NLA with "N" means that you will be reporting both Unclaimed super accounts and Small or insoluble lost member accounts for this period. This prevents any later NLA being accepted for the same period with a "Y". If it is unclear whether an NLA will be required for the period the default option should be "Y".
Subsequently, the information box at data definition 7.57 Non-lodgment advice (NLA) will be updated in the next version of the USM specification as follows:

If a fund initially advises NO, they are not lodging a NLA, the fund cannot then subsequently advise YES they are now lodging a NLA on a later statement for the same period.