You’ll need to request stapled super fund details for new employees who started on or after 1 November, if:
– you need to make super guarantee payments for that employee
– they’re eligible to choose a super fund, but don’t.
This will help limit the creation of multiple superannuation accounts every time an employee starts a new job.
A ‘stapled fund’ is an existing superannuation account that is linked, or ‘stapled’, to an individual employee so that it follows them as they change jobs.
You’ll need to request stapled super fund details for new employees who started on or after 1 November, if:
– you need to make super guarantee payments for that employee
– they’re eligible to choose a super fund, but don’t.
This includes contractors who you pay mainly for their labour and who are employees for super guarantee purposes.
You still need to request stapled super fund details for some employees who can’t choose their own super fund. This includes employees that are:
– temporary residents
– covered by an enterprise agreement or workplace determination made before 1 January 2021.
You don’t need to request stapled super fund details for if the employee chooses their own super fund or your default employer fund.
You or your authorised representative can request a stapled super fund through ATO online services. There is no limit to the number of requests you can make. However, a bulk request form is available when requesting large numbers of employees.
Before you request stapled super fund details, make sure you do the following:
– check that your authorised representatives in ATO online services have the Employee Commencement Form permission
– establish an employment relationship link with your new employee by submitting a Tax file number declaration or Single Touch Payroll pay event.
If you’ve been provided with stapled super fund details for an employee, you must pay super guarantee contributions to that fund to avoid penalties.
If the stapled super fund account provided by the ATO can’t accept contributions for the employee, you’ll need to make another request for their stapled super fund through ATO online services.
If the stapled super fund is a a self-managed super fund, get the electronic services address and bank account details from your employee.
There’s more information available on the ATO website, including a helpful webcast. Our team are also available to help. Contact us if you’d like to discuss further.