Understanding Self-Managed Super Funds (SMSFs)
A SMSF is a type of superannuation fund that you control. Unlike traditional super funds managed by financial institutions, an SMSF allows you to make investment decisions tailored to your financial goals. This means you can allocate your superannuation savings to various assets, including Bitcoin.
Can I use my existing account for my SMSF? A separate AmberApp account for your SMSF is required to comply with the Sole Purpose Test.
Steps to Open an SMSF Account
Before you can open an SMSF account with AmberApp, you must first set up your SMSF Trust. If you need assistance, we can connect you with our panel of specialist SMSF accountants who can guide you through the establishment and management process. Please reach out to us at [email protected] for more information.
Step 1: Apply for an SMSF account
To begin, you will need to gather and submit the following information and documents:
Copy of the executed Trust Deed;
SMSF Details: Name, ACN or ABN, and registered address;
Dedicated Email Address: A separate email address specifically for the SMSF account;
For Corporate Trustees: A Company Extract document issued by ASIC.
Send all the required information and documents to us at [email protected].
Step 2: Verify Trust Members
Once your application is submitted, we will need to verify the trust members before your SMSF account can be opened:
Each trustee, director (if applicable), and beneficiary must sign up for an AmberApp account.
Each member must complete identity verification.
Step 3: Open Your Account
Once we have verified all the members, we will provide instructions to open your SMSF account. After your SMSF account is set up, you can start purchasing bitcoin and managing your investments.