When an eligible employee commences with you, they must be provided with and return the Superannuation standard choice form (or another alternative document which contains the same information) within 28 days of their start date.
if the employee has not returned the relevant document within the specified time frame, from 1 November 2021 you’ll need to request your employee’s stapled super fund details from the ATO.
What is a Stapled Superannuation Fund?
A Stapled Superannuation Fund is the employee’s choice of default fund, which follows them as they change jobs.
How do I find out my Employees’ Stapled Superannuation Fund?
In order to obtain the Employees stapled super fund details, their information must have been submitted via a Submit Event (Posting a Pay Run).
Wait, so how does that work?
When the Employee is added into e-PayDay Legacy, we recommend they are assigned to your Nominated Default Superannuation Fund unless they have already returned the relevant forms.. Once they have been included in a Pay Run which has been sent to the ATO, follow Step 2: Request stapled super fund details immediately.
Once the Stapled Superannuation Fund details have been obtained,
- Access Super Manager to locate the Superannuation Fund and if it does not exist, add the required details.
- Access Employees and Edit the Employee to update their Superannuation Fund.
For full details, please refer to the ATO website here.