If the payment includes transferring funds to another Australian Super Fund, do we have to confirm that the receiving fund is also a QROPS?
A. No, but it would be surprising if the QROPS did not check that the receiving fund is a QROPS in order to know if the transfer would give rise to an unauthorised payments charge/surcharge on the individual. Q. One of the requirements is for the Australian Super Fund to advise HMRC when the fund makes “a payment” to the member that transferred their UK pension into the Australian Super Fund. “A payment” includes the commencement of pension payments, a cash withdrawal or transferring the funds to another Australian Super Fund. How does HMRC envisage that this reporting is to be done (eg on-line system, hard copy forms etc)? A. Form APSS 253 can be used to send reports of payments to APSS. It will not be possible to submit reports electronically.
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