Coming soon: New online service for SMSF auditors

From 4 March 2019, applications to be registered as an approved SMSF auditor will be submitted via the new ASIC Regulatory Portal. If you're an existing SMSF auditor – you will maintain your registration details and submit your annual statements from within this portal too.

The ASIC Regulatory Portal is where our regulated community can access ASIC's increasing suite of digital services and will replace the existing online channel for approved SMSF auditors - ASIC Connect.

The new portal will provide you with:

  • More transactions available online.
  • More pre-filled application and transaction data using information you have previously supplied.
  • Improved tracking of your applications and transactions.
  • Ability to attach supporting documents with your online application.
  • Ability to correspond with us through the portal about submitted applications or transactions - coming soon.

Existing SMSF Auditors will be required to register for an ASIC Regulatory Portal user account as a first step.

I'm an existing SMSF auditor – what do I need to do?

 

1. To get started, register for an ASIC Regulatory Portal user account and connect your SMSF auditor registration using your ASIC Key.

 

The ASIC Regulatory Portal is now open for user account registrations - and you can register anytime. To register, go to the ASIC Regulatory Portal homepage and select the blue 'Register' button. For more information, see our user guide.

ASIC Regulatory Portal: How to register

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Already registered a ASIC Regulatory Portal user account?

SMSF Auditors who have other relationships with ASIC may have already registered a portal user account to meet their industry funding obligations. If you have already registered, you will need to ensure your portal user account is connected to your SMSF Auditor registration. For more information, see our user guide.

ASIC Regulatory Portal: How to connect to an entity

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What is an ASIC key?

The ASIC key helps us establish your identify and is the same unique code used for your ASIC Connect account. It can be found on the registration approval letter that accompanied your certificate of registration and on annual statement due reminder notifications that you've received from us. Find out what to do here if you cannot locate your ASIC Key.

2. From 4 March 2019, you will be able to maintain your SMSF auditor registration via the ASIC Regulatory Portal.

Transactions you'll be able to complete in the portal include:

  • Lodging your annual statement
  • Applying to vary conditions
  • Updating address details
  • Updating personal details
  • Updating capacity, and
  • Applying to cancel your registration.

How do I apply to become an approved SMSF auditor?

From 4 March 2019, all applications to become an approved SMSF auditor will be submitted in the ASIC Regulatory Portal.

You can continue to use ASIC Connect to complete and submit your application up until 1 March 8:00pm AEST. To find out more about applying online for registration as an approved SMSF auditor, visit our SMSF auditors information page

Will existing applications transfer to the ASIC Regulatory Portal?

Applications you have started but not yet submitted in ASIC Connect will not transfer to the ASIC Regulatory Portal. If you have a started an application in ASIC Connect and do not submit it by 1 March 8:00pm AEST, you will need to start the application again in the ASIC Regulatory Portal following that date.

Important notice: online services for SMSF auditors will be unavailable from Friday 1 March 2019 8:00 pm AEST until SMSF auditor applications become available in the ASIC Regulatory Portal, 4 March 2019.

My annual statement is due soon, where do I lodge it?

You can only use ASIC Connect to lodge your annual statement up until 1 March 8:00pm AEST. Following that, from 4 March onwards, you will need to use the ASIC Regulatory Portal to lodge your annual statement.

Will I still receive email notifications when my annual statement is due?

Effective 1 March 2019, you will no longer be notified by email that your SMSF auditor annual statement is ready for you to complete.

You will need to be aware of your statement due date and make your own arrangements for ensuring it is lodged on time.

All SMSF auditors must lodge their annual statement within 30 days of their registration anniversary date. It is your responsibility to ensure you are compliant with your SMSF auditor responsibilities under the law. Failure to complete your annual statement, may result in the cancellation of your SMSF auditor registration.

Please note: a fee for lodging your SMSF auditor annual statement no longer applies. This fee removal became effective 4 July 2018.

What is the ASIC Regulatory Portal?

The ASIC Regulatory Portal will become your central access to ASIC's growing suite of digital regulatory services.

Key features:

  • Allows you to act on behalf of multiple entities (individuals or organisations) – for example, you may be a company officeholder (director or secretary of a company) in which case you can register and claim that entity. You can then invite others to act on your behalf or you may be invited by an entity or an officeholder to act on their behalf.
  • Uses information you have previously supplied to pre-fill applications and transactions.
  • Tracks the status of your applications and transactions.
  • Ensures greater security through use of your own individual portal user account and password.
  • Enables you to define user access levels that control what others can do on behalf of an entity or individual – for example, you can authorise another user to launch and edit a transaction, but only you can submit.

Coming soon…

  • Maintain your Registered Company Auditor or Authorised Audit Company registration via the ASIC Regulatory Portal.
  • Ability to correspond with ASIC about submitted applications or transactions.

To find out more about the portal visit our portal information page.

Where do I go if I need help using the portal?

The ASIC Regulatory Portal help page has resources to help you get up to speed with using the portal. These include step-by-step user guides, FAQs and videos to help you – from registering your account to connecting your registration and inviting trusted representatives to act on your behalf.

Communication to SMSF Auditors

ASIC will soon communicate directly with SMSF Auditors to inform them of the change.

The service we will be using for this communication will be Campaign Monitor.

If you are an SMSF Auditor and you receive this communication - you can unsubscribe from this mailing service at any time by simply clicking the unsubscribe button at the bottom of the email you receive.

Please see ASIC’s Privacy Policy for more information about how we handle your personal information and how to make a privacy complaint, seek access or correction of your details.

Please see Campaign Monitor’s privacy policy for further details about how they handle personal information, including their overseas storage practices.

We are always looking to improve our information for SMSF auditors so we would like to know what's important to you. Please leave us some feedback.

Last updated: 18/02/2019 01:46