Superannuation:: Finding your Lost/Unclaimed Super
Hello, this is your tax accountant, P&C Tax Professionals.
The ATO has recently released updated information on their lost and unclaimed super, revealing that there is currently $16 billion in unclaimed and lost super. It is therefore recommended that you check if there are any unclaimed or lost super accounts registered under your name.
There are various reasons why you might have lost or unclaimed super. For example, if your old super fund has been unable to contact you or hasn’t received any contributions in the past five years, they will classify you as a lost member.
Although the ATO is working towards reuniting members with their lost super, there are a few methods you can use to search for your lost super, which will be discussed in this blog post.
<Search online via MyGov>
To search for your super online via MyGov simply:
1. Log in to your MyGov account linked to the ATO services
2. Click on Manage my super to check if you have any unclaimed or lost super that is being held by the ATO.
<Lost super search line>
Individuals and their registered tax agents can complete a super search by phoning ATO’s automated super search line: 13 28 65.
Upon calling the ATO, you may be asked for the following details:
> Your personal details
- Tax file number (TFN)
- Name
- Date of birth
- Visa holder status (if applicable)
> Your contact details
- Current postal address
- Daytime phone number
- Email address (if applicable)
> Your super fund details – this includes any super fund where contributions may have been made on your behalf
- Super fund name
- Account number
- Beneficiaries
- Period of contributions
> Your previous details
- Name
- Address
- Employment (if applicable).
<Complete a paper form>
Alternatively, you can also download and fill out the “Searching for lost and unclaimed super (NAT_2476)” form and post it to the ATO at:
PO Box 3578
ALBURY NSW 2640
<Individuals who may have lost super>
Below are some of the reasons why your super fund might report you as a lost member:
> Your super fund was unable to contact you
> No contributions or rollover amounts have been made on your behalf for the past 5 years
> Your account was transferred from another fund as a lost member account, and no new address was able to be found
<Individuals who may have unclaimed super>
> Unclaimed super money for
- a member who is 65 years old or above
- a non-member spouse
- a deceased member
> Unclaimed super money of previous temporary residents
> Certain accounts belonging to lost members
- lost accounts containing balances of less than $6,000 (small lost member accounts)
- lost accounts that were inactive for 5 years and have insufficient records to identify the account owner (insoluble lost member accounts)
> Superannuation accounts that are inactive low-balance accounts.
In conclusion, locating and reclaiming your lost or unclaimed super can have a significant impact on your retirement savings. With the ATO’s recent update on lost and unclaimed super data, it is crucial to take proactive steps to ensure that you don’t miss out on any unclaimed funds that belong to you. If you ever need any assistance in regards to your tax or super, please do not hesitate to contact us through our official Facebook Page (P&C Tax Professionals – Australia) or by sending us a message to pnctax@naver.com.
Thank you and bye for now!