How to Set Up an SMSF in 2025

Want to set up a self-managed superannuation fund (SMSF)? Here's how you can do it:

Step 1: Decide if an SMSF is Right for You

First, consider whether you are ready to take on the responsibility of managing your superannuation savings and what professional support you might require.

If you have decided an SMSF is right for you, reach out and we can assist you with the set up of your SMSF.

Step 2: Choose between having Individual Trustees or a Corporate Trustee

At Ryan's SMSF Compliance we strongly recommend establishing your SMSF with a new Special Purpose Corporate Trustee.

However, if you prefer to have individual trustees, that's ok! We can guide you through everything you need to consider.

Step 3: Incorporate your Corporate Trustee

The good news is, it's incredibly easy to establish a corporate trustee.

First, you need to ensure you have a Director ID which can be obtained through the Australian Business Registry Service.

Next, choose a unique name for the Trustee. We will then help you decide on the number of shares to be issued and finer details. 

Step 4: Have fun choosing the name of your SMSF and Establish the Trust Deed

There are very few limitations as to what you can name your SMSF, so be as creative as you like!

Once you have chosen a name, we will draft your SMSF deed and help you with the signing process, whether that's in-person or online.

Step 5: Register Your SMSF

Next, it's time to formally register your SMSF with the Australian Taxation Office (ATO). This involves obtaining an Australian Business Number (ABN) and a Tax File Number (TFN) for your SMSF. Once registered, your SMSF is live!

Step 6: Develop an Investment Strategy

It is a regulatory requirement for all SMSFs to have an investment strategy. Start to think about how you intend to invest your superannuation benefits and we'll help you put pen to paper.

Keep in mind, you can always update the SMSF's investment strategy at a later date. 

Step 7: Set up a bank account

Open a bank account in the name of the SMSF with your preferred financial institution. You can open multiple accounts to help you manage your super and investments.

Step 8: Rollover or Contribute to your SMSF

Choose whether you want to rollover your existing super and/or make contributions to your SMSF. 

At this stage you should review your current insurance policies and ensure you are never left without coverage.

At Ryan's SMSF Compliance we are not licensed to provide financial advice, and therefore we cannot provide a recommendation as to whether you should or should not rollover your superannuation benefits.

However, if you have any questions or concerns you can reach out to us and when you are ready to roll over your benefits, we are more than happy to assist.

Step 9: Notify your employer

Inform your employer about your SMSF if you wish to redirect your superannuation contributions. We can help you with the details you need to provide.

Step 10: Begin investing

You can now start investing! 

We are here to help

If you are wanting to establish an SMSF or have any questions about the process, contact Ryan's SMSF Compliance today and we will guide you through every step of your SMSF journey.