How do I trigger the 3 year bring forward rule?
This is automated for you, Simple Fund 360 will update your reports and dashboards based on the non-concessional contribution data that has been entered in your ledger.
I have entered the contribution, completed the period compliance. The contribution dashboard still shows $xxxx over cap. Am I missing something?
The entire bring forward rule is complex and may have many factors as to why it is showing over.
From 1 July 2017,
To be eligible for the bring forward arrangement:
- member must be under 65 years of age for one day during the triggering year (the first year)
- member must have a total superannuation balance (TSB) of less than the general TBC
- member must make more than general NCC in the relevant FY
- does not currently have a bring forward period
Is it a Non-Concessional contribution - Check that the contribution was entered as Non-Concessional in the More Details Panel to Account 24200/MemberCode
What Financial Year was it triggered - if the contribution was entered in the 17-18 financial year you might need to factor in the Total Super Balance
Check the members DOB in the contacts list
Let me know how you go.
Found the issue and all’s good.