Forum Discussion

AwG1's avatar
AwG1
Contributing User
8 months ago
Solved

Incorrect ABN for SMSF in MYOB

Hello I've spent a few hours on this already and have followed advise provided in forums. I have an employee with a SMSF. They have provided the ABN (and I've checked 4 times now) and it is correct....
  • Princess_R's avatar
    Princess_R
    7 months ago

    Hi AwG1,

     

    Thank you for your response.

     

    I've further checked the Superfund ABN from the ATO Superfund Lookup, and I can see that the ABN for this fund is invalid as the fund's status is "Regulation Details Removed". This means the regulation details of this SMSF have been removed due to failure to lodger returns. The status needs to be "active" for us to process the payments associated with that fund. Therefore, this requires the fund to contact ATO and get the status changed.

     

    Please don't hesitate to reach out if you've got any questions or concerns in the future. I'm here to help.

     

    Cheers,

    Princess

Shella_A's avatar
Shella_A
MYOB Moderator

Hi AwG1, 

 

Thank you for your post.  I'd like to extend you a warm welcome to the Community Forum. I hope you find it a valuable resource.
 

To correct the situation, kindly re-set up the super fund within the file by going to Business name (upper right-hand corner) > Payroll settings > Superannuation funds > Create super fund > Then fill out all the necessary fields. The Help Article Set up superannuation funds will provide you with all the information available.

 

If it still shows incorrect ABN, it is possible that the SMSF updated or changed their details. We recommend you contact the SMSF of your employee directly to verify that information. 

 

If you need further help, don't hesitate to start a new post and we'll be happy to assist.

 

Otherwise, if my response has answered your enquiry, please click "Accept as Solution" to assist other users find this information.

 

 

 

Cheers,
Shella

AwG1's avatar
AwG1
Contributing User
7 months ago

Hello Shella,

thank you for your response. I do not know why this is not working for me. I have double and triple checked the ABN. I have the correct ESA and bank account details and still no luck. The message remains (with the !) "the ABN for this employee's fund is invalid. To fix this, create a new fund with correct details". I now have the same fund entered 3 times. 

Your help would be greatly appreciated. 

  • Princess_R's avatar
    Princess_R
    MYOB Moderator
    7 months ago

    Hi AwG1,

     

    Thank you for your response.

     

    I'm sorry to hear about your experience with the ABN for your employee's fund. I understand your concern, and I'm here to assist you in resolving this matter. To address the error message you're encountering, could you please provide Superfund's name and its' ABN? I will investigate this further on our back end.

     

    Cheers,

    Princess

    • AwG1's avatar
      AwG1
      Contributing User
      7 months ago

      Thank you. The SMSF is Tawfik7 Super Fund. ABN 41587621422

      warm regards

       

      • Princess_R's avatar
        Princess_R
        MYOB Moderator
        7 months ago

        Hi AwG1,

         

        Thank you for your response.

         

        I've further checked the Superfund ABN from the ATO Superfund Lookup, and I can see that the ABN for this fund is invalid as the fund's status is "Regulation Details Removed". This means the regulation details of this SMSF have been removed due to failure to lodger returns. The status needs to be "active" for us to process the payments associated with that fund. Therefore, this requires the fund to contact ATO and get the status changed.

         

        Please don't hesitate to reach out if you've got any questions or concerns in the future. I'm here to help.

         

        Cheers,

        Princess