The ATO has reminded SMSF auditors they can still report instances of SMSF auditor number (SAN) misuse as part of a mail-out campaign that started in October last year.
The regulator said its 2022 SAN misuse mail-out campaign was still open until 13 February after which the ATO will be contacting tax agents who have been reported as being connected with SAN misuse.
It stated a response to the mail-out served a number of compliance purposes for the regulator and the SMSF sector.
“Take the time to review the client list and report SAN misuse. Even where your client lists reveal no misreporting, you should still confirm this with us so we know the funds in your client list received an audit,” it said.
“Remember, the mail-out helps us verify funds are being audited and identify instances of SAN details being incorrectly or fraudulently reported on SMSF annual returns.”
SMSF auditors were advised to follow the steps to respond sent to them via email from the ATO or respond via the secure mail function available in the online services for business portal.
The 2021 SAN misuse mail-out identified 1896 instances of misuse spread across the 2020 and 2021 income years that were associated with 683 tax agents, of which more than 400 agents were linked to more than one instance of misuse.
Last year, the ATO stated its ongoing mail-outs had changed the behaviour of tax agents in regard to SAN usage, which had been reinforced by compliance action by other regulators and tribunals.