KEEP YOUR BUSSQ ACCOUNT
Elect to keep your BUSSQ account
If you would like to keep your BUSSQ account and prevent the balance from being transferred to the ATO, complete the below form.
By completing this form, you are authorising BUSSQ to act on your behalf in regard to informing the ATO that you would prefer that your account is not transferred to the ATO.
Why is your account considered an inactive low balance account under government legislation?
If your account has a balance below $6,000, no insurance, and has not received a contribution/rollover for 16 months, we may be required to transfer your account to the ATO as an Inactive Low Balance account. The ATO will then seek to identify any active superannuation accounts you have and consolidate the monies with one of those accounts.
If you would prefer that your account is not transferred to the ATO you can elect for your account to be excluded by completing the above form and your account will remain open. You can change your status at any time if you no longer wish to be excluded by calling us on 1800 622 877. Your election will expire after 16 months.
By completing this exclusion request, you are authorising us to act on your behalf in regards to informing the ATO. Further information about inactive low-balance accounts is available at ato.gov.au.
There are other ways to keep your account active – call us on 1800 692 877 for more information.