Chapter 3: The SMSF setup phase

If you have decided that an SMSF is for you, you will need to set it up properly and begin rolling over money from other funds into your new fund.

Steps to set up your SMSF

Your chosen SMSF service provider will help you work through the following five steps to get your SMSF up and running.

Step 1: obtain a trust deed

The trust deed is a legal document that establishes your SMSF and sets out the rules governing its operation. Make sure you get a good quality trust deed from a recognised SMSF specialist because it will ensure the smooth operation of your fund.

Did you know?

A lawyer must prepare the trust deed. If you’re using the services of an SMSF administrator or accountant to set up your fund, they will ...

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