24CStatement of lost member accounts

#### 24C Statement of lost member accounts Superannuation provider must give statement to Commissioner (1) A superannuation provider must, for each unclaimed money day, give the Commissioner a statement, in the approved form, of information relevant to either or both of the following: (a) each lost member account as at the end of the day; (b) the administration of any of the following in connection with each lost member account: (i) this Part; (ii) the Superannuation (Departing Australia Superannuation Payments Tax) Act 2007; (iii) the Income Tax Assessment Act 1997, Part 3AA of this Act, and Chapters 2 and 4 in Schedule 1 to the Taxation Administration Act 1953, so far as they relate to this Part or the Superannuation (Departing Australia Superannuation Payments Tax) Act 2007. > Note 1: For State or Territory public sector superannuation schemes, see sections 24H and 24HA. > Note 2: The Taxation Administration Act 1953 provides for offences and administrative penalties if the statement required under subsection (1) includes false or misleading information: see sections 8K, 8M, 8N and 8R of that Act and Division 284 in Schedule 1 to that Act. > Note 3: The approved form may also require the statement to include certain tax file numbers: see subsection 25(4) of this Act. (2) The statement is not required to contain information relevant to lost member accounts that cease to be lost member accounts during the period that: (a) begins from the unclaimed money day; and (b) ends immediately before the day on which the statement is given to the Commissioner. (3) If, at the end of the unclaimed money day: (a) there are no lost member accounts, the statement must say so; or (b) there are only lost member accounts that cease to be lost member accounts during the period mentioned in subsection (2), the statement must say so. > Note: If the fund is a regulated superannuation fund that has no more than 6 members, see subsection (4). (4) This section does not apply if, at the end of the unclaimed money day: (a) the fund is a regulated superannuation fund that has no more than 6 members; and (b) either: (i) there are no lost member accounts; or (ii) there are only lost member accounts that cease to be lost member accounts during the period mentioned in subsection (2). When statement must be given (5) The superannuation provider must give the Commissioner the statement by the end of the scheduled statement day for the unclaimed money day. > Note 1: The Commissioner may defer the time for giving the statement: see section 388‑55 in Schedule 1 to the Taxation Administration Act 1953. > Note 2: The Taxation Administration Act 1953 provides for offences and administrative penalties if the statement is not given when it must be: see sections 8C and 8E of that Act and Division 286 in Schedule 1 to that Act. Relationship to rest of Act (6) This section does not apply in relation to: (a) an amount that is unclaimed money at the end of the unclaimed money day; or (b) amounts payable to a person identified in a notice the Commissioner has given the superannuation provider under section 20C; or (c) an amount payable to the Commissioner in respect of an eligible rollover fund member under section 21C. > Note: Section 16 requires the superannuation provider to give the Commissioner a statement about unclaimed money. > Note 2: Section 20E requires the superannuation provider to give the Commissioner a statement about the superannuation interest of a person identified in a notice given to the provider under section 20C (which is about notices identifying former temporary residents). > Note 3: Section 21A requires the superannuation provider to give the Commissioner statements about eligible rollover fund accounts.