As of 1 November 2021, if you have a new employee start and they do not return their “superannuation standard choice form”, then you must request their ‘stapled super fund’ details from the ATO. Often when employees are younger, have multiple jobs, or do not take much care with their super, they may not know what their details are (or not care). This would then mean you would revert to requesting their stapled super fund details via the ATO and use these details to pay their compulsory super.
A stapled superfund is just a new term which simply means the employees’ existing superfund, which is linked to them and follows them as they change jobs.
To get these stapled superfund details you can either:
- Access the business portal, navigate to the employee’s menu and enter the employee details
- Provide your accountant with your employee’s details, and we/they can request these for you.
The ATO has advised if employers are using the service incorrectly, i.e., requesting details for employees who started before November 1, they may remove your access to the service.
For a reference guide around stapled super funds, please follow the below link.