Establishment of a New Fund

Prospective clients will often apply to establish an SMSF through their adviser who can provide them with an application form and assist with it's completion. There are different forms for the Online Service and the Annual Service. Alternatively, the application form can be downloaded direct from this website. Once completed, the application form should be mailed or faxed to our office with a cheque for the establishment amount attached and processing will begin.

  1. Confirmation

    Firstly, Cavendish will call the client/adviser to confirm the application. At this point, any further required information will be gathered to ensure that the application documentation is complete, correct and signed.

  2. Preparation of Documentation

    Cavendish will use the information provided in the application form to produce all documentation required to establish the fund, including:
    • Trust Deed (in duplicate)
    • Consent & Declaration of Trustees
    • Minutes
      • Appointment of Service Providers
      • Investment Philosophy/Strategy
    • Member Advice Notices
    • Application for Membership for each member
    • Product Disclosure Statement
    • Administration Agreement between Cavendish and the client(in duplicate)
    • Australian Business Number (ABN) and Tax File Number (TFN) Electronic Lodgement Form
    • Rollover Letters to existing Fund Managers
    • Bank CMT Application Form
    • Bank / CMT Payment Authority Request (for electronic payment of Cavendish fees)

    These documents are forwarded to the nominated Fund address within 2 business days of receipt of the application. The trustees must then sign all documents and return them to Cavendish for processing.

    Upon receipt of the signed documents, Cavendish will ensure all documents are signed correctly, then process each document as described below.

  3. Stamping of Trust Deeds

    • Funds from Tasmania and Northern Territory require the Trust Deed stamped
    • Trust Deeds are forwarded to the appropriate Stamp Duties office the day signed documents are received by Cavendish
    • Stamping takes approximately 10 - 14 days to process and return Trust Deeds

  4. Lodgement of ABN & TFN Application

    • Electronic lodgement is same-day processed upon receipt of the signed forms
    • The ABN may be available on the Australian Business Registry (ABR) website within approximately 48 hours of lodgement
    • ABN & TFN confirmation notices are posted to Cavendish in approximately 7-14 working days
    • Original confirmation notices are included in the client Portfolio

  5. Lodge Bank / CMT application & Payment Request

    • Application is lodged online the day signed documents are received by Cavendish
    • Account number and BSB is available immediately
    • Application form is lodged with bank when TFN for the Fund is received
      (only applies to Macquarie CMA accounts)
    • Confirmation notice is forwarded detailing the account number and balance details to Cavendish within approximately 7 days. This is forwarded in the monthly mail-out
    • The Fund's deposit book is received by Cavendish within approximately 10 days of application lodgement
    • The deposit book is retained on file by Cavendish.

  6. Lodge Rollover Requests with Existing Fund Managers

    Rollover requests are retained by Cavendish until the Fund's ABN is issued. Upon receipt of the Notification of ABN, Cavendish:
    • Post request to existing fund manager, rollover institution on same day
    • Contact rollover institution 10 days after lodgement to confirm receipt and ensure all necessary information has been included. Generally rollover institutions will process request within approximately 10 days from receipt of all required information. When rolling over from a government fund the transfer may take up to 4 weeks.
    • The rollover cheque and ETP will be forwarded to Trustee c/- Cavendish
    Upon the receipt of the rollover cheque
    • Cheque is deposited in the Fund's CMT/bank account on day of receipt
    • Letter is forwarded to client (copy to adviser), confirming receipt of rollover on the day of receipt

  7. Return Client Originals in Cavendish Fund Portfolio

    All original documents are returned to the Trustee/s in the Cavendish Portfolio
    • Trust Deeds not requiring stamping - within 10 days of signed documents received by Cavendish
    • Trust Deeds requiring stamping - within 15 days of signed documents received by Cavendish

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