SMSF reform measures: What’s been proposed for 2026

The Australian Government has proposed reforms to strengthen protections in the self-managed super fund (SMSF) sector, aimed at reducing fraud, poor advice and avoidable losses in retirement savings.

These measures are part of a broader consumer protection package for the superannuation and financial services system, set out in a recent Treasury fact sheet.

A particular focus is the SMSF establishment process, with new procedural requirements aimed at preventing high-risk rollovers where poor advice or scams may be involved.

The key measures are summarised below.

Rollover prevention and protection

Under the proposed changes, the Australian Taxation Office (ATO) would be empowered to block rollovers into newly established SMSFs where it has concerns about fraud, financial abuse, misconduct, or potential consumer harm.

This change is designed to prevent savings from being shifted into vulnerable structures before suspicious conduct can be properly assessed.

In practice, this measure may require the ATO to use information from other agencies or regulatory sources before deciding whether a rollover should proceed.

This would sit alongside the ATO’s existing power to decline new SMSF registrations.

Mandatory trustee education

The reforms introduce mandatory trustee education, which may include testing, prior to SMSF registration. This reflects existing concerns that new entrants to the SMSF sector may not fully understand their responsibilities and legal obligations, or the costs involved in running a fund.

In addition, the government has promised to support industry-led initiatives to lift trustee knowledge and professional standards across the SMSF sector.

Separate SMSF bank accounts

One of the more specific measures announced is the requirement for all SMSFs to maintain ‘uniquely identifiable bank accounts’.

This would assist regulators and SMSF administrators in detecting fraud by improving the traceability and flow of SMSF assets. It would also reduce the risk of misuse or confusion between personal and fund assets.

SMSF trustees are already required to keep their personal assets separate from any fund assets under the SIS Regulations.

Initial SMSF investment strategies