• What happens if the Principal Employer/Employer Sponsor has ceased to exist since the fund's original deed?
• What do I do if the SMSF trust deed is lost?

What happens if the Principal Employer/Employer Sponsor has ceased to exist since the fund's original deed?

If a Principal Employer or Employer Sponsor no longer exists, then, in consultation with a lawyer, you need to check the original trust deed to see if it states what happens after the employer-sponsor/principal employer ceases to exist. If the deed:

1. Does state what happens (eg the Fund ceases to operate), then there is likely some action to be taken or documents to be created to ensure any issues are resolved; and
2. Does not state what happens, it may be the case that the deed has no requirement for the fund to have a principal employer/employer sponsor. So you may merely have to state that the original principal employer/employer sponsor was a party to the original deed. Again, you need to consult with a lawyer as to whether any action needs to be taken or document needs to be created.

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What do I do if the SMSF trust deed is lost?

If the SMSF's trust deed has been lost, then you need to consider the following steps in consultation with a lawyer:

1. Arrange for all parties to the deed to conduct a thorough search for the deed;
2. Contact the person (maybe a solicitor or accountant, or their firm) who arranged the deed to see if they have a copy;
3. Ask the person (maybe a solicitor or accountant, or their firm) who arranged the deed if they have a deed which they arranged around the same time as your lost deed was arranged; and
4. Seek advice from your lawyer as to whether you can use a similar deed to replace the lost Deed.

Maddocks provides a specialist service for lost SMSF Deeds.

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