04 February 2022
Self managed superannuation fund - Minor as director
My client would like to make their 15-year-old child a member of their self managed superannuation fund (SMSF).
I understand SMSF law requires every member to be a director of the corporate trustee. In the case of a minor, should a parent, guardian, or legal representative be appointed as director of the corporate trustee in their place?
Given both parents are already directors of the corporate trustee is anything further required?
Thank you for the question.
There are no specific requirements.
Ensure that the minor is appointed as a director and note in the minutes of the company meeting that one of the parents is acting as director for the minor until they reach majority.
Regards
Mentor
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