Unit of competency Outline

Date retreived
22/07/2026 6:00 PM AWST

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Process self-managed superannuation contribution

Process self-managed superannuation contribution

Unit of competency
National Code
FNSSMS401
State Code
AUT23
TGA Status
Replaced
DTWD Status
Replaced
Current Release Number
1.00
Current Release Date
25/03/2015
View on TGA
State Implementation and Classification
Approved Date
16/09/2015
Field of Education
081105 - Investment And Securities
Original Release Date
16/09/2015
Nominal Hours
40
Description
This unit describes the skills and knowledge involved in receiving and processing superannuation contributions and rollovers into a self-managed superannuation fund, ensuring correct monies are allocated to accounts and rectifying errors where these are identified.It applies to individuals who, within their level of authority, apply specialised organisational knowledge and follow defined procedures to administer and process financial information.Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Refer to the FNS Implementation Guide Companion Volume or the relevant regulator for specific guidance on requirements.
Notes
Elements and Performance Criteria
1. Receive contributions and rollovers, and process
  • 1.1 Establish new accounts as required and check for eligibility
  • 1.2 Receive contributions and rollovers via post, person, phone or electronic format and check accompanying documents to ensure information is complete and correct
  • 1.3 Identify contribution and rollover sources and types
  • 1.4 Identify any potential errors in processing contributions and rollovers
  • 1.5 Process contributions and rollovers where there are no errors, according to fund guidelines
2. Identify and manage errors or non-completions
  • 2.1 Return documentation or seek required information where errors in contributions and/or documentation have been identified
  • 2.2 Action incomplete or incorrect contributions and rollovers according to fund guidelines
  • 2.3 Reconcile incomplete or incorrect contributions and rollovers, and process when required information is obtained
3. Allocate contributions and rollovers according to type
  • 3.1 Prepare reconciled contributions and/or rollovers for allocation into accounts
  • 3.2 Allocate contributions and/or rollovers in accordance with member requirements
  • 3.3 Complete documentation and processing according to fund requirements and procedures
4. Issue receipt or confirmation for contributions and rollovers according to fund guidelines
  • 4.1 Generate receipt and confirmation for contributions and/or rollovers according to fund guidelines
  • 4.2 Check receipt and confirmation against member records according to fund guidelines
  • 4.3 Send receipt and confirmation to member according to fund guidelines
No information
No information
Replaces
State Code National Code Title Type
D4326 FNSSMS401A Process self-managed superannuation contribution Unit of competency
Replaced By
State Code National Code Title Type
OCI49 FNSSMS411 Process self-managed superannuation contributions Unit of competency
State Code National Code Title Type
AVZ0 FNS40915 Certificate IV in Superannuation Qualification