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QROPS Documents

The below document service relates to the UK rules for Qualifying Recognised Overseas Pension Schemes (‘QROPS’).

For existing SMSFs, the pricing is as follows (inclusive of GST)

DescriptionSoftcopy *
SMSF Deed Update (QROPS) documentation — click to order$ 1,500 ^
*Add $100 for hard copy
^ The above fee does not include lodgement of the executed paperwork with HMRC

For new SMSFs, the pricing is as follows (inclusive of GST)

DescriptionSoftcopy *
New (QROPS) SMSF documentation — click to order$ 1,500 ^
New company (bundle price) — click to order$ 230
ASIC registration fee for the company (no GST) (from 1 July 2021) $ 512 #
Total$ 2,242
*Add $100 for hard copy
# As DBA Lawyers acts as agent for registration ASIC fee is not subject to GST
Pricing (apart from ASIC fees) includes GST
ASIC fee is indexed each 1 July
^ The above fee does not include lodgement of the executed paperwork with HMRC
From 1 August 2021 unless documents are ordered online at https://online.dbalawyers.com.au/login an additional $50 fee applies per suite of documents.

Overview

NB: If you wish to order QROPS documents please use our standard ordering process for a new SMSF or an SMSF deed update and note in the special instructions that you would like a QROPS 55+ deed. The pricing in our online ordering system will be adjusted to reflect the above prices after you complete the order.

For individuals with money tied up in a UK-based pension scheme who would like to repatriate to their Australian SMSF, we offer a suite of SMSF documents that satisfy the QROPS standards set out by Her Majesty’s Revenue and Customs (‘HMRC’) both in relation to new SMSFs and existing SMSFs.

Broadly, HMRC do not accept that Australia’s superannuation law payment standards align with the UK’s standards unless membership of the fund is restricted to persons aged 55 years or over. Thus, the suite of documents prepared by DBA Lawyers is on the basis that all fund members are over 55.

Generally, UK pension schemes will release money to a QROPS fund, provided that the UK scheme is not an unfunded defined benefit or a state pension scheme. Thus, clients should discuss these aspects with their UK pension scheme provider prior to ordering the above documents.

What’s included

We supply comprehensive documents that comply with the standards set out by the HMRC including:

  • Covering letter to be sent to HMRC
  • Letter detailing what is to be provided to HMRC
  • Trustee resolutions
  • Deed to allow the fund to comply with the UK regulations
  • Detailed guidance on completing APSS251 (the notification form that must be submitted to HMRC)

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