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Multiple Member SMSF

  • The SMSF must have no more than 4 Members
  • No Member can be an employee of another Member – unless the two Members are related
  • By law, no Trustee can receive payment from the fund for their services as Trustee
  • If an Individual Trustee structure is selected, all Members must also be Trustees, unless they are ineligible to be.
  • If the Trustee is a Company (Corporate Trustee), all Members must also be Directors of the Trustee Company

Sole Member SMSF

  • If the Trustees are individuals, there must be 2 Trustees.
    • The Member must be a Trustee along with another individual as the second Trustee
    • The second Trustee cannot be the employer of the Member, unless they are related to that Member.
  • If the Trustee is a Company
    • The Member must be a Director of the Trustee Company, unless they are ineligible to be.
    • The company can have a maximum of 2 Directors – being the Member and another individual

The second Director cannot be the employer of the Member.

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