Typical SMSF involves several stages

• Set Up: Decide Trustees / member, establish Trust and Trust Deed, Set up Bank Account and Register with ATO.
• Once set up: Rollover existing super, organise employer contributions, make investments, and document and maintain records in accordance with the law
• Each year: Value assets, prepare Financial Statements, get SMSF audited and lodge the return
• Benefit payment: Ensure minimum payments are met each year and provide payment summaries to members and the ATO
• Winding up fund: Get final Audit, lodge final SMSF return , pay outstanding tax and pay out or rollover all assets