ATO steps up on SMSF compliance in 2026

The ATO has made it clear: if you’re running an SMSF in Australia, there are a few compliance areas you can’t afford to slip up on. In its latest 2026 Corporate Plan, the tax office says it’s keeping a close eye on early access to super and late annual returns.

Early access – still a big problem

Times can be tough, and dipping into super early might look like a quick fix. But the ATO says it’s seeing more and more of it — and the consequences aren’t pretty.

If you take money out before you’re allowed to, you could be looking at:

• extra tax

• hefty penalties

• losing your retirement savings

• being banned as a trustee (and yes, that goes on the public record).

The numbers are huge: in 2021–22, illegal early access added up to around $250 million. No surprise the ATO is tightening checks on new SMSFs and stepping up education to stop it happening.

Falling behind on returns

The other area getting attention is late annual returns. More funds are slipping behind, and the ATO’s had a gut full.

If your return isn’t lodged on time, a few things can happen:

• penalties and interest

• your tax concessions can disappear

• your fund’s status on Super Fund Lookup might change to “Regulation details removed” — which blocks rollovers and employer contributions.

In other words: don’t leave your return sitting in the too-hard basket.

Reporting deadlines matter too

One last point the ATO is pushing: SMSFs must respond to a commutation authority within 60 days. If you don’t, the pension is no longer in retirement phase — and the fund loses its tax exemption on earnings from that income stream.

What it means for you

The ATO’s message is simple: keep your SMSF compliant. Early access schemes, overdue returns, and missed deadlines can all cost you big time.

If you’re not sure where your fund stands, it’s worth getting it checked. A quick chat with our audit team could save a bigger headache later.