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Jonah W.
Jonah W.
Ormond, VIC

I have a SMSF and finding it difficult to maintain it time wise. Is it possible to unwind and what do I need to do?

last year


Hi Jonah,
It certainly can be unwound, there are plenty of boxes to tick though. You will need to do this with an accountant or planner

Hi Jonah,

This is a very common experience but good on you for acknowledging and trying to fix the problem.

Yes, the SMSF can be wound up & your super moved back to a retail super fund.

Depending on what your SMSF owns this may take some time (more than likely whatever you own will need to be sold). Given you've got the SMSF now I imagine you have some relationship with an accountant who has assisted with the annual reporting requirements - I'd start by contacting them and explaining you want to wind up the SMSF. They will be able to help you with the wind up.

If you get stuck, reach out. I'm happy to help.

All the best.

03 9909 5800

Hi jonah,

'"unwind" is not quite the correct terminology. but in short you have the following options:
1: take the super as a lump sum if you are old enough to receive it tax free
2: roll it into another complying super fund.
3: sort things out so that the administrative burden is not all on you and keep your SMSF

There is a LOT of detail and all sorts of ifs buts and maybes to figure out what is your best option. Get yourself in contact with a CA or CPA that isnt going to try to peddle something you dont want. Then figure out what your option are and the COSTS associated with those options.

THEN make a decision about what you should do.

the worst part of having a SMSF is setting it up and figuring out how to manage it. And you have stumped up a significant amount of cash to get the fund set up and get your super rolled into the SMSF. If you decide to roll it out, this money is wasted.

The ongoing cost of running a SMSF is (in general) a LOT less than many industry and commercial funds charge......so rolling funds out is almost certainly going to cost you more per annum.

The ongoing management of your fund can be made relatively simple. It all boils down to what you are trying to acheive and HOW you are trying to acheive it.

For example, if you want to run a share trading enterprise in your fund, then you are up for a mountain of work. If your fund is going to be a passive investor in (say) property, the mountain of paperwork gets reduced a LOT. If you want to invest in (say) a trade weighted index fund, then the paperwork becomes VERY managable.

It is really up to what you want to do, and how much input you want to have.......my gut feeling is that you have a significant amount of interest in your own retirement, because not many people set up a SMSF on a whim......so if you can figure out a way to manage things in a simpler way, perhaps a SMSF is not such a bad option for you.

find someone to talk to you about what you do and what you have and what you want and then you will be in a better position to make a good (AND INFORMED) decision

I am happy to chat by telephone if you want.
good luck

Hi Jonah,

The fund can be wound up and funds re-entered into a retails fund - but PLEASE liaise with your accountant and financial planner before you take the leap. It will cost $'s to get this sorted out, plus fees to go back into the retail sector.

It might be easier to work out/simplify the SMSF maintenance issues you are having. These do not need to be difficult, unless you were trying to regularly trade in shares or other commodities.

Get the right advice before making a costly decision (and possibly a costly mistake).


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