Trust Deed

When Superannuation Warehouse sets up a new SMSF, we issue five documents as part of the set-up process, one of these being the Trust Deed. An SMSF is governed by the Trust Deed. The Trust Deed sets out the rules of the Fund.

The SMSF trust deed is the instrument that establishes the Fund, and once it is executed the SMSF comes into existence.

Whilst the self managed super fund trust deed can impose more onerous regulations for the Trustees to follow, it is not permitted to contain clauses which require the Trustee to breach the SIS Act.

The Trust Deed can be amended at virtually any time, but the Trustee must follow the guidelines for amending the Deed as set out in the original Trust Deed of the SMSF.

The Deed we issue refers to the Superannuation Act and Superannuation Regulations and is written in such a way that it does not need regular updating. Some providers quote certain sections of the legislation in their Deeds, so when the legislation changes the Deed needs updating as well. It is in their interest if you regularly update the deed as they charge a fee for this.

We do not charge a fee for the Trust Deed and issue this for free as part of the set-up process. If the Deed does need replacement in future, we will incorporate this in the annual compliance process. We will not charge an extra fee for Deed updates.

There is no particular age that would cause an automatic review of your SMSF Trust Deed. It is much more about ensuring that the governing rules allow the strategy and activities the Trustees wish to undertake.

The Investment strategy will be in alignment with the Trust Deed, setting out specific investments the SMSF can make.

To download the Deed we issue, click here.

To download the Investment Strategy we issue, click here.

To download the various downloads, click here.

FAQs about SMSF Trust Deeds:

Q:If the original Trust Deed for the Fund is missing, will a scanned photocopy suffice?

As Trustees of the SMSF, it is highly important all establishment documents including the original Trust Deed for the Fund are retained and in safe-keeping. In the scenario that the original Trust Deed is missing, a scanned photocopy may suffice.

A recent court case named Sutton v NRS(J) Pty Ltd [2020] NSWSC 826 illustrated that a scanned photocopy of the Funds Trust Deed was indeed acceptable where the original was found to be missing. This case was specific for a discretionary Trust but has the same implications for an SMSF Trust Deed.           

Q: Can an SMSF Trust Deed be executed and signed electronically?

An SMSF Trust Deed is acceptable in regards to the execution of the document. However, some banks are still quite old-fashioned and depend on documents that are signed via wet ink signature in comparison to an electronically signed Trust Deed. It is important to check with the specific bank whether the electronic signature is suitable.

For a recent article covering on electronically signed Trust Deeds, please see here.                                                                                                                                 

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