The EOFY SMSF compliance checklist covers the critical actions advisers and SMSF administrators must complete before 30 June each year. This includes verifying minimum pension payments, checking contribution caps, lodging Transfer Balance Account Report (TBAR) events, confirming market-value asset valuations, and reviewing members’ insurance arrangements. Missing even one of these obligations can expose clients to ATO penalties, tax surcharges, or failed pension status. These consequences are avoidable with structured, timely action.
This guide walks through each requirement in adviser-ready terms so that you can manage your SMSF client base with confidence and precision heading into year-end.
Why Does the EOFY Matter So Much for SMSF Compliance?
The SMSF compliance requirements that fall on or before 30 June are not just administrative formalities. Many carry direct financial and tax consequences for members. The ATO has progressively tightened enforcement, and ASIC continues to raise expectations for advisers operating under an Australian Financial Services Licence (AFSL).
For advisers and administrators managing multiple funds, the volume of action items can be significant. A structured EOFY SMSF compliance checklist is the most reliable way to ensure nothing is overlooked and that clients enter the new financial year in a compliant, optimised position.
What Minimum Pension Payments Must Be Made Before 30 June?
Key action: Confirm minimum pension payment calculations for each member account. Payments must actually clear the fund’s account and not just be processed before 30 June.
Failure to meet the minimum results in the pension losing its tax-exempt status for the income year. This means fund income supporting that pension becomes assessable, with significant tax consequences. For clients over 75, the minimum is especially time-sensitive given liquidity constraints.
Note that the temporary 50% pension reduction measures that applied post-2020 have now concluded. Confirm current factors apply for FY2025–26.
What Contribution Cap Rules Apply This Financial Year?
SMSF contribution compliance is a common source of ATO assessments. Before 30 June, advisers should confirm the following for each contributing member:
- Concessional contributions (employer and personal deductible) do not exceed $30,000 for FY2025–26.
- Non-concessional contributions do not exceed $120,000 (or $360,000 under the bring-forward rule for eligible members).
- Members who intend to claim a personal tax deduction (Section 290-170 notice) have submitted (or are on track to submit) a valid notice of intent to the fund trustee before lodging their personal return.
- Total Superannuation Balance (TSB) thresholds are checked before assuming bring-forward eligibility.
When Must TBAR Events Be Reported to the ATO?
Transfer Balance Account Reporting (TBAR) is event-driven, not annual. However, EOFY is a practical trigger to audit outstanding reportable events. Advisers should confirm that all credit and debit events for the financial year have been captured and reported within ATO timeframes.
The most common TBAR events arising at or around EOFY include:
- Commencement of a new pension (retirement phase interest).
- Commutation of a pension (full or partial).
- Death benefit pension commencements or reversions.
- Defined benefit income stream indexations.
Reporting obligation: SMSFs are generally required to report TBAR events within 28 days after the end of the quarter in which the event occurred. Check that all FY2025–26 events through to 30 June have been lodged or will be within 28 days of quarter-end.
Are SMSF Asset Valuations Compliant for 30 June?
The ATO requires all SMSF assets to be valued at market value as at 30 June each year. This is a core SMSF compliance requirement under the Superannuation Industry (Supervision) Act 1993 (SIS Act), and a common focus during ATO audits.
For each fund in your practice, confirm:
- Listed securities: sourced from the ASX or a recognised exchange – typically automated from the fund’s administration platform.
- Unlisted unit trusts: current year unit pricing confirmed with the responsible entity.
- Direct property: an independent valuation in place, or an objective and supportable valuation methodology (such as recent comparable sales, a licensed real estate agent’s appraisal, or other relevant market evidence) where a formal valuation has not been obtained in the current year. Read more on what the ATO now expects on SMSF property valuations.
- Private company shares: supported by an appropriate valuation basis (net assets, earnings-based, or external valuation).
- Collectables and personal use assets: valued under the ATO’s specific rules, with storage, insurance, and related-party lease restrictions confirmed.
What Insurance Reviews Must Advisers Complete Before EOFY?
While insurance held inside an SMSF does not carry a hard 30 June deadline in the same way pension payments do, EOFY is the standard review point for several reasons:
- Fund trust deed: confirm it permits the types of insurance currently held.
- Investment strategy: confirm the fund’s written investment strategy addresses insurance as required under the SIS regulations.
- Premium payments: confirm all insurance premiums have been paid from the fund and are deductible at the fund level where applicable.
- Benefit definitions: for income protection and total and permanent disability (TPD) policies, confirm definitions align with the fund’s cashing conditions.
What Else Should SMSF Advisers Check Before 30 June?
Beyond the five core areas, a thorough EOFY SMSF compliance checklist should also cover:
- In-house asset rule: confirm the fund’s in-house assets do not exceed 5% of total fund assets.
- Related-party arrangements: all dealings at arm’s length and properly documented.
- Binding death benefit nominations: check expiry dates.
- Audit readiness: confirm financial statements and supporting documentation are on track for the fund’s independent auditor.
- Fee disclosure: where Financial Disclosure Statements (FDS) apply, confirm these have been issued to affected clients.
- Investment strategy review: each fund must have a current, written investment strategy. Update if member circumstances have materially changed.
Make Your EOFY SMSF Compliance Checklist Work Harder
Managing SMSF compliance requirements across a client base requires an organised, repeatable process backed by expert SMSF administration support.
WealthRecords partners with financial advisers and accounting firms across Australia as a compliance backbone for SMSF administration. From pension calculations and TBAR lodgement to audit preparation and investment strategy reviews, our team keeps your funds on track so you can focus on the advice relationship.