Test an account against the inactive low-balance rules
Key facts
- Human involvement
- YellowClose supervision
- How AI is used
- From the member's account, list the balance, the date anything was last received, whether the account is a defined benefit, whether insurance is being provided, and whether the member has met a condition of release. List any of these in the last 16 months: a change of investment option, a change to insurance, an election to keep insurance, a new or amended binding nomination, a written notice that the account is not inactive and low-balance, or a contribution. Do not prepare the unclaimed-money statement.
- What the lawyer must review
- The lawyer decides whether the account is an inactive low-balance account and prepares any statement. The Australian Taxation Office protocol, last updated 1 October 2026, states that an account is an inactive low-balance account only if all of these are met: nothing received for 16 months, balance under $6,000, not a defined benefit, the member has not met a prescribed condition of release, insurance is not being provided, and the fund is not a self-managed fund or a small APRA fund. It is not such an account if, in the last 16 months, the member changed investment options, changed the insurance, elected to maintain insurance, made or changed a binding beneficiary nomination, gave a written notice that they are not a member of such an account, or made a contribution. The notice is valid for 16 months. Cancelling insurance because the member did not opt in, and a declined application for insurance, are not the positive insurance action the page describes. A binding nomination that is merely still in effect is not enough unless it was made or amended in the last 16 months. A nomination the trustee can depart from is not a binding nomination for this test. The tests are applied to each product, not to an aggregated balance across products. Amounts that count as received include an employer super guarantee or other concessional contribution, an after-tax contribution, a downsizer contribution, a rollover, and a government contribution. The page says the fund reports and pays if the account is an inactive low-balance account at the end of an unclaimed money day and still is immediately before the earlier of payment and the time payment is due. The page names an unclaimed money day and a scheduled statement day and does not set out the calendar dates, so those dates are confirmed before anything is paid. The statement in the approved form is the lawyer's. This task is the test. It does not prepare the unclaimed-money statement.
- Written for / version
- US
Open a jurisdiction version of this task to see which instruments apply: US
Who does what
| Role | What they do |
|---|---|
| Assistance | From the member's account, list the balance, the date anything was last received, whether the account is a defined benefit, whether insurance is being provided, and whether the member has met a condition of release. List any of these in the last 16 months: a change of investment option, a change to insurance, an election to keep insurance, a new or amended binding nomination, a written notice that the account is not inactive and low-balance, or a contribution. Do not prepare the unclaimed-money statement. |
| Lawyer | Set the scope, supervise the work closely, verify every part relied on, resolve omissions and exceptions, and approve the exact output. |
Checklist
- Require every condition on the page, including a balance under $6,000 and no insurance being provided.
- Stop the test if any listed event occurred in the last 16 months, including a written notice, which lasts 16 months.
- Do not prepare the unclaimed-money statement, and do not invent the calendar date of an unclaimed money day.
Sources
- Australian Taxation Office, inactive low-balance accounts for unclaimed super, last updated 1 October 2026 · 2026-10-22
These are suggested working checks. Confirm the required checking with the responsible lawyer before work starts; the checking approach does not establish permission to use AI.