Nil Member Accounts in BGL360 and the impact on fund relationships

In a super fund , we have mum , dad and two children. The children are members and trustees of the superfund , however they have not got a balance at all in the SMSF. If i have them as a member then they have a Nil member statement ( which looks a little odd) in BGL desktop no member statement was generated , however in BGL360 their is a member statement. If I cease the account then they children would be removed as members in the SMSF details section. Does anyone no if there is a way to have the children still as members but the nil member statement is not generated ?

Hi Simonnl,

No, there isn’t a way but the information is correct. They are members with a NIL balance and have a right to see that balance just as any other member does. Any member who exists in an SMSF should receive a member statement, balance or no.

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