Who can be a Trustee of a Super Fund?

The Superannuation Industry (Supervision Act) also known as the SIS Act provides who can be the Trustee of a Super Fund. You may elect to either have Individual Trustees (restrictions may apply) or a Corporate Trustee. 

If you elect to have Individual Trustees you must consider the following:

• Up to six members permitted.
• Each member of the fund must be a Trustee and each Trustee must be a member of the fund.
• Some state or territories restrict the number of Trustee permitted under the relevant law. Therefore, some situations may arise where you may not be permitted to have six Members and six Individual Trustees. In this circumstance, you may consider using a SMSF Trustee Company.

If you elect to have a Corporate Trustee you must consider the following:

• Each member of the fund must also be director of the Corporate Trustee and Each director of the corporate Trustee must be a Member of the Fund. 
• Ensure all directors of the Corporate Trustee have their Director Identification Numbers (DIN).

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