If you have an existing Individual Account with Stake setting up a Stake SMSF account is easy.
If you don’t already have an Individual Account, you should firstly set one up here to ensure the SMSF setup process runs smoothly. It’s a mandatory part of the SMSF account set up process to have an existing individual account.
Stake SMSF Account Eligibility
Your SMSF is eligible to set up an account with Stake provided its status with the ATO is either Registered or Complying. You can check the status of your SMSF by searching Super Fund Lookup.
You cannot set up a Stake SMSF account where the status of your fund has been changed to ‘Regulation Details Removed’:
Login to Stake via web
To set up a new SMSF account you need to login to Stake via your web browser. You cannot set up a new SMSF account via the Stake app at this time.
Navigate to Account > Add Account
Select Australia as Your Country and SMSF as Account Type
Keep Existing Login?
You have a choice to set up a new login with a different email address for your SMSF, or to link your new SMSF account to your existing email address that you already login with for your SMSF account.
For most people, we suggest they stay logged in and click here:
This means only your current email address can be used to access the SMSF account (i.e. other trustees or members of the SMSF will not be able to access the SMSF account under their login).
If you want a separate login solely for your SMSF account, select “Log Out and Continue”. You will be prompted to set up a new account which will be solely for your SMSF. Please note this will also force you to set up ANOTHER individual account as the primary applicant under a separate login.
An alternative if you would like to set up your SMSF account to be accessible by other members of your fund, such as your spouse, is to set up the SMSF account using your existing login, then email Stake support and ask them to update the email to a separate address / login for the SMSF account. This option means you will need to log out and log in again to switch between accounts.
Stake is aware of this challenge with multiple account owners for an SMSF, and they have it is their long list of items to develop, however in the short term it will be a case of either linking the SMSF account to a single login which is either separate or connected to one account holder.
Select SMSF Trustee Type
Your SMSF will either have 2,3 or 4 individual trustees or a Pty Ltd company as trustee.
You need to ensure you select the correct trustee type. If you are unsure you can either check with your accountant or check against an existing bank or investment statement to confirm the trustee name.
SMSF with Individual Trustees
Enter SMSF Details
When you select Individual, you will next enter details of your SMSF:
- Full SMSF Name
It’s EXTREMELY IMPORTANT these details are entered correctly to avoid processing delays with your new SMSF set up.
You can check the name and ABN of your SMSF via Super Fund Lookup:
You must enter the SMSF name as it appears on Super Fund Lookup (excluding “The Trustee For”). Do not abbreviate ‘Superannuation Fund’ to ‘Super Fund’ or ‘Superfund’ etc – enter the SMSF name as it is registered, for example:
Ensure the ABN is entered accurately. As mismatch will cause a delay with your account setup. If you cannot locate your SMSF ABN please contact your accountant or SMSF provider or check correspondence from the ATO to confirm details.
Although the TFN field is optional, we recommend you enter it. You can locate your SMSF TFN from correspondence from the ATO, form a prior year SMSF tax return or from your accountant / SMSF provider.
Add Trustee 2 Details
When you create a new SMSF account, your individual account details are already pre-filled as Trustee #1 and do not need to be re-entered.
Ensure all details are accurate. Any incorrect details will slow the set up of your new SMSF account.
Where there are additional individual trustees of your SMSF, select ‘Yes’ and complete the same process for them.
If there are only two trustees, click No and complete the final steps of your application, electronically sign and submit.
SMSF with Company Trustee
Enter Trustee Company Details
When you select Company, you need to enter the following information for the SMSF:
- SMSF Name
And the following information for the trustee company:
- Company Name
- Company ACN
- Registered Address & Business Address
It’s very important the details for both the SMSF and Company are entered accurately. Any incorrect information will significantly delay the establishment of your SMSF account.
You can check the name and ABN of your SMSF via Super Fund Lookup:
You must enter the SMSF name as it appears on Super Fund Lookup (excluding “The Trustee For”). Do not abbreviate ‘Superannuation Fund’ to ‘Super Fund’ or ‘Superfund’ etc – enter the SMSF name as its registered.
You can check the name and ACN of your trustee company via ASIC:
The Trustee Company Name and ACN must be entered exactly as they appear on the ASIC register, for example:
Please note that the Registered Address of the company will often be physical location of your accountants office if they hold the physical company register and/or act as your agent with ASIC.
When you enter the Registered Office address this should match what ASIC has listed.
Where the suburb and postcode is different to your home address, you should untick ‘This is also my place of business address’ and enter your home address as the company place of business address.
Company Officer Details
Your SMSF trustee company will have 1 or more directors.
If you are the only member of your SMSF, select ‘Sole Director’ then click next to finalise the application by signing your name.
Where there are 2 or more members / directors, you will need to enter the details of the other directors.
Even if the second director will not actively be access the Stake SMSF account to make trades, their details will still need to be entered as they will need to authorise the establishment of the account with both Macquarie and DriveWealth as our US broker partner.
After Application is Submitted
When your SMSF application is submitted Stake will review and as your agent submit an application to Macquarie for the establishment of a linked Cash Management Account that will act as the AUD wallet for your SMSF Stake account.
All trustees / directors of the SMSF will receive an email to confirm and authorise the application.
The speed it takes Macquarie to set up and make your new account active will depend on the accuracy of the information you’ve entered.
The most common errors that need to be resolved are incorrect trustee company details (Company name and ACN), incorrect SMSF details (SMSF name and ABN) as well as incorrect dates of birth for the individual trustees or directors.
Once your account is set up you will receive a confirmation email and can transfer funds to the new Macquarie account and then onto the Stake USD wallet.
Don’t have an SMSF?
If you don’t have an SMSF, however you’re interested in setting up an SMSF, you can learn more about doing so here: SMSF Setup