XpressBLKFrequently Asked Questions
Facts & Forms
Frequently Asked Questions
Xpress Super is a low cost, trusted and independently owned SMSF Administrator provided by parent company, SuperGuardian. With the 2 decades of experience, SuperGuardian saw the need for a low cost administrator who are passionate about SMSFs and supporting Trustees.
We are proud to be a low cost service that establishes SMSFs but also arranges the transfer of existing SMSFs.
We handle the administration, compliance, annual financial statements, tax return and audit.
Our head office is in Adelaide, and serviced offices provide local capabilities in Perth, Brisbane, Sydney and Melbourne. We have Client Managers in our Melbourne and Sydney offices on a permanent basis.
By offering a restricted investment platform, we’re able to rely on fully automated data feeds which do most of the processing for us. Due to the efficiency of our processes, our external costs like the annual audit are more competitive than the industry average.
Please visit our fee schedule.
No, knock yourself out!
While SMSFs are common, they’re not for everyone. One thing to consider is your proposed account balance and whether it justifies the initial and ongoing costs associated with operating an SMSF (particularly as compared to other options). We will not accept an engagement if your proposed SMSF balance is lower than our minimum balance requirement. However even if we accept an engagement – it does not mean your balance is sufficient to efficiently operate an SMSF and we suggest speaking to a financial adviser if in doubt.
Please visit our Why Choose Us page.
We charge a $499 cancellation fee should our services be cancelled within 12 months.
Should you cancel outside of the 12 months, no cancellation fee is charged.
Good question and one you should give consideration to you before you move forward. You will find each option has its advantages and disadvantages. We have prepared an informative fact sheet which will assist you in making your decision.
In order to comply with our Know-Your Client and AML obligations we require a copy of your current drivers license.
We will provide you with a welcome pack within 24 hours upon receipt of the client engagement form and establishment fees.
Once you have signed and returned the documents to us, the bank will take around 4 business days to active the account. We will notify you as soon as we receive confirmation.
Once the fund is established, the bank account is active and the ABN has been issued by the ATO – you can then arrange your rollovers.
If you are looking to arrange a full transfer from your existing super fund, we will provide you with an ATO generic rollover form and all information needed to complete the request.
If you are looking to make a partial transfer, you will need to contact your superannuation fund and request the appropriate form.
Please note, provided you have completed the rollover forms properly you will likely receive the cheque or EFT payment within 10-21 days.
For further information on rollovers please refer to our fact sheet. We encourage clients to obtain advice before arranging any rollovers.
You can either reimburse yourself the establishment costs or allocate as a contribution. This will happen when money becomes available in the super fund either by way of the first rollover or a contribution.
We invoice our funds annually in advance (to cover our software costs and the cost to process on an interim basis). We will bill and debit the annual fee each year in July via direct debit to your cash hub.
Your Electronic Service Address (ESA) is smsfdataflow. We will provide you with a document in your welcome pack which can be forwarded to your employer.
Yes we certainly do!
In order to provide you with a quote for any prior or current year work we need you to provide us with the following information:
- What will be the first financial year for Xpress Super to take over your SMSF admin?
- What investments does your fund hold?
- How many bank accounts does the fund hold and who are they with?
- Who is your share broker?
- Are you interested in the Xpress Super Standard service level or XpressBLK?
- If your fund has a corporate trustee, would you like Xpress Super to handle the annual obligations with ASIC?
We will review the investments held by the fund and provide you with a quote via email.
Yes, providing you are happy with this.
We contact them and request all information and documentation needed to bring your fund up to date on our systems.
If we have any issues obtaining this information, we will contact you.
Yes, we can certainly arrange this for you.
Set up Your Self Managed Super Fund today
Talk to one of our experts. We’re here to help.
- 1300 216 890
