Stapled Superfund – What’s new?

Do you have a new employee starting and they have opted to use your default super fund? From 1 November 2021, you need to request their ‘stapled’ super fund details via the Australian Taxation Office website, rather than creating a new membership through your company’s default super fund.

If your new employee chooses a super account they already have or chooses your default fund, you do not need to request stapled super fund details for them.

So what is a Stapled Superfund?

An existing super fund is linked, or “stapled”, to an individual employee so it follows them as they change jobs. This aims to reduce account fees, avoiding new super accounts being opened every time an employee starts a new job.

When do I need to request a Stapled Superfund?

You will need to request a stapled super fund for new employees who start on or after 1 November 2021, when:

  • you need to make super guarantee payments for that employee
  • they are 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 may need to request stapled super fund details for some employees who aren’t eligible to 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.

Financial advisor and woman meeting in the office, the customer is reading and signing a contract.

How do I request a Stapled Superfund?

To request a stapled super fund, you, or your authorised representative, need to:

  1. Log into the Australian Taxation Office website (use hyperlink https://onlineservices.ato.gov.au/business/) 
  2. Find the employees menu, navigate to ‘Employee super account’ and click ‘Request’ to open the form.
  3. Enter your employee’s details, including their Tax File Number, full name, date of birth and address. 
  4. Read and click the declaration to sign it. 
  5. Submit your request!

Still confused?

Need help with this? Get in touch with Australia’s trusted bookkeeping and business advisory team on 1300 755 577 or email at service@companyprophets.com.au

Nailing Stapled Super Funds

In summary, make sure to request the “stapled” super fund details from the ATO for new employees who have not nominated their own choice of super fund.

Still confused about the Stapled Super Fund? Don’t worry, we can unjam your employees super in a jiff! 

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