Everything You Need to Know About Form SU580: Superannuation Rollover

What is Form SU580?

Form SU580 is an official form that allows you to transfer superannuation benefits from one fund to another. It helps individuals consolidate their retirement savings into a single account, reducing administrative costs and improving visibility over their total super balance.

Who Should File Form SU580?

• Individuals with multiple superannuation accounts who want to combine them
• Members transferring super funds before retirement or withdrawal
• Individuals seeking to avoid duplicate fees or lost accounts

When to File Form SU580?

You can submit Form SU580 anytime you wish to consolidate or transfer your super. It’s recommended to do so before reaching preservation age or when changing employers to keep all contributions in one fund.

Key Information Required

• Your Tax File Number (TFN)
• Details of your current and destination super funds
• Membership or policy numbers
• Proof of identity (e.g., driver’s licence or passport)
• Your signature authorizing the transfer

Why is Form SU580 Important?

Form SU580 simplifies retirement fund management by merging accounts and reducing duplicate administration fees. It ensures your super savings remain active and consolidated under one fund, protecting your long-term retirement benefits.

How to File Form SU580 (Superannuation Rollover)?

1. Get the Form: You can access the SU580 form PDF through Zendocs.
2. Complete Details: Fill in the required sections accurately, including your Tax File Number (TFN) and the details of both your current (releasing) and destination (receiving) super funds.
3. Submit: The completed SU580 document must be submitted to your new (receiving) super fund, which will then initiate and manage the transfer process on your behalf.

Processing Notes

Transfers usually take up to 3 business days once both funds verify your details. Check with your super fund for confirmation and keep copies of all submitted forms.