Pension reporting
TBAR explained — Transfer Balance Account Report
By easySMSF, SMSF Specialist Team · Updated
When a member of your SMSF starts a retirement-phase pension, commutes one, or hits the $2.1m transfer balance cap, the ATO needs to know. The form they use is the Transfer Balance Account Report — TBAR for short.
New FY kickoff — 50% off SMSF setup (limited time)
Limited-time new financial year offer — 50% off Individual and Corporate Trustee setup fees. Ends midnight AEST, 30 September 2026.
Worked example — Sarah starts an account-based pension
On 15 August 2025 Sarah, age 65, commences an account-based pension in her SMSF with a starting balance of $1,200,000. This is a 'credit' to her transfer balance account.
The event happened in Q1 of the financial year (Jul–Sep 2025), so the TBAR must be lodged by 28 October 2025. The fund reports: member TFN, event type (start of retirement-phase income stream), event date (15 Aug 2025), and value ($1,200,000).
Sarah's transfer balance account now sits at $1.2m, leaving $900,000 of her $2.1m cap available for future retirement-phase amounts. If she later commutes $200,000 back to accumulation, that commutation is a 'debit' and must also be lodged on a TBAR — by 28 days after the end of the quarter the commutation occurred.
Regular fortnightly or monthly pension payments to Sarah are NOT reported on a TBAR. Only structural events (starts, commutations, structured-settlement contributions, commutation authority responses) are.
- All SMSFs lodge TBARs quarterly (since 1 July 2023) — 28 days after quarter end.
- Only lodge when a reportable event happens — no nil returns required.
- Tracks each member against the $2.1m transfer balance cap (2026–27).
- Late lodgement can trigger excess transfer balance tax based on incomplete data.
- easySMSF prepares and lodges every required TBAR as part of our fixed annual fee.
Frequently asked questions
General advice warning
Figures shown are illustrative only and based on the inputs and assumptions you provide. They are general information, not personal financial product advice. Consider your objectives, financial situation and needs, and seek personal advice from a licensed financial adviser before acting. easySMSF does not hold an Australian Financial Services Licence (AFSL).