As a trustee of a SMSF it is very important you are aware of your obligations.
What are SMSF Trustee Obligations?
The responsibility that comes with being the trustee of the SMSF is significant. The primary concern of the trustee is the management of the fund for the benefit of members for their retirement. It is also importance to ensure that fund assets are held in trust and invested on behalf of the members.
All trustees are equally responsible for managing their SMSF to make sure that it complies.
Trustees are also required to review of the fund’s investment strategy on a regular basis. They should consider insurance for members as part of the fund’s investment strategy and value the fund’s assets at market value to ensure that financial accounts and statements are accurate.
Contact our team today to discuss your SMSF Trustee Obligations, or if you have any Self-Managed Superannuation Fund questions in general.