Getting access to a deceased estate’s super or investment account

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If you’re a representative of the estate of a friend or family member who has passed away and they held a wrap investment or superannuation account with Macquarie, this checklist can help you prepare the necessary documents to get access to the account(s).

Where a certified copy is required, please review our certification requirements.

Our super and investment estates process and principles

Steps:

To notify us of the person’s passing, please read How to notify us.
We’ll identify you as a Deceased Estate Representative, Legal Representative, Adviser or Beneficiary, and will let you know which specific documents you’ll need to complete and return to us. You can also find these requirements below.
We’ll assess the information received. If we need more details, we’ll let you know.
We’ll inform you once our estates process is finalised. We’ll do this as soon as practicable.

Note: For superannuation and pension accounts, we’ll pay the death benefit to the nominated beneficiary/s on the account. If there is no beneficiary nomination, we’ll pay to the estate. This is in line with the rules of the Macquarie Superannuation Plan.

Accessibility

We are committed to ensuring our estates process is accessible. If you require additional assistance (for example, you have a vision impairment,difficulty using smart devices, or alternative identification needs), please contact us and our team will assist you.

For more information on our accessibility policy, please see our Accessibility statement.

What we need from you

Superannuation and pension accounts

The death benefit will be paid to the beneficiary/s under the non-lapsing nomination or reversionary pension nomination received on the account before the client’s passing. If there is no nomination, we’ll pay to the deceased client’s estate.

If the superannuation account holds insurance, we’ll notify the insurer and ask them to contact you. Based on the insurance cover, the insurer will assess if a death benefit is payable and will require you to provide claim documentation. If the insurer accepts the claim, the death insurance benefit will be paid to the superannuation account.

We’ll pay the death benefit as soon as practicable. The time it takes to pay the benefit often depends on the time it takes to receive all the necessary documentation.

Lump sum death benefits can usually only be paid to someone who was a dependent of the deceased in accordance with the applicable super law (Refer to the section Who can I nominate to receive my death benefit?) in the article Who recieved your super when you pass away?

Death benefits can only be paid in the form of a pension to certain people (Refer to ‘Who can receive a death benefit as a pension?’).

The taxation of a death benefits to an individual as a lump sum is determined by the relationship between the beneficiary and the deceased (Refer to Are death benefit payments taxed?).

The fund needs to obtain information that clarifies these aspects and the time it takes to pay the death benefit depends on the time it takes to obtain this information.

Reversionary pension nomination (pension only)

The person nominated as a reversionary beneficiary will receive the death benefit as a pension. However, they can choose to receive the benefit as a lump sum after the pension account has reverted to them. Please provide the following:

A certified copy of the death certificate
A completed Macquarie Wrap Reversionary pension application form – This will be provided upon notification of the client’s passing
A certified copy of identification for the beneficiary (if not provided as part of the application form)
If the beneficiary is under the age of 60, an original Tax File Number Declaration is required.

If the Reversionary beneficiary requests the benefit to be taken as a lump sum after the account is reverted, in addition to the above, we also require:

A completed Withdrawal form or written instructions signed by the beneficiary/s requesting for all assets to be liquidated into cash and the account to be closed paying to an account held in their name

Non-lapsing death benefit nomination held on the account

The person(s) nominated as beneficiary can choose to receive the benefit as a lump sum payment, starting a death benefit pension or a combination of both.

We can only pay the death benefit as a pension if, at the time of death, the recipient is either:

a dependant of the deceased (for example, their spouse, a financial dependant, or a person with whom they have an interdependency relationship) who is not a child, or
a child of the deceased who is:
- under age 18, or
- aged 18 to 24 inclusive and was financially dependent on the deceased, or
- aged 18 or more and has a qualifying disability (broadly, this is a disability that is permanent or likely to be permanent and results in the need for ongoing support and a substantially reduced capacity for communication, learning or mobility).

A nominated child over the age of 18 that isn't financially dependent or doesn’t have a qualifying disability can only take their benefit as a lump sum.

Alternatively, if the nominated beneficiary was dependent on the member within the ordinary meaning of that term (eg. a person who may not be a spouse or child but depended on the member financially), please provide evidence to demonstrate this dependence. Examples of evidence include bank statements that show the payment of funds to the beneficiary from the deceased and/or documentation of the payment of the beneficiary’s living expenses by the deceased.

Depending on what the beneficiary can and/or wants to do regarding payment of the death benefit, please provide the following information:

Type of benefit payment	Documents we'll need:
Benefits to be taken as death benefit pension	a certified copy of the death certificate a certified copy of the beneficiary’s ID (if not provided as part of the application form) an original Tax File Number Declaration is required if the beneficiary is under the age of 60. We’ll also need: For a non-lapsing nomination: a new Pension application form completed in full by the beneficiary - To be submitted online by the adviser For a reversionary beneficiary (pension accounts only): a completed Macquarie Wrap Reversionary pension application form.
Benefits to be taken as a lump sum to an individual	a certified copy of the death certificate a certified copy of the beneficiary’s ID a completed withdrawal form/letter signed by the beneficiary the beneficiary’s Tax File Number (if payment is being made to an adult child of the deceased).

Type of benefit payment

Documents we'll need:

Benefits to be taken as death benefit pension

a certified copy of the death certificate
a certified copy of the beneficiary’s ID (if not provided as part of the application form)
an original Tax File Number Declaration is required if the beneficiary is under the age of 60.

We’ll also need:

For a non-lapsing nomination:

a new Pension application form completed in full by the beneficiary - To be submitted online by the adviser

For a reversionary beneficiary (pension accounts only):

a completed Macquarie Wrap Reversionary pension application form.

Benefits to be taken as a lump sum to an individual

a certified copy of the death certificate
a certified copy of the beneficiary’s ID
a completed withdrawal form/letter signed by the beneficiary
the beneficiary’s Tax File Number (if payment is being made to an adult child of the deceased).

No nomination or nomination to the estate

Where there is no valid nomination on the account at the time of the client’s passing, the death benefit payment will be made to the estate, via a payment to an estate bank account, or to a solicitor’s trust bank account. This is in line with the rules of the Macquarie Superannuation Plan.

Please provide the following:

A certified copy of the death certificate
A certified copy of the Grant of Probate or Letters of Administration
A certified copy of identification or all executor/s or administrator/s
An Individual Identification form for all executor/s or administrator/s
A completed Withdrawal form/ letter signed by all the executor/s or administrator/s.

Investment accounts

Individual account

For accounts held in a client’s individual name, we can only accept instructions from the executor, administrator or in some cases the next of kin, who must first be appointed as the authorised signatory on the account.

Please provide the following:

A certified copy of the death certificate
A certified copy of the Grant of Probate or Letters of Administration
A certified copy of identification for each executor or administrator
A completed Individual Identification form of each executor or administrator.

There are additional requirements which depend on the executor’s or administrator’s instruction

If you'd like to:	Please provide
keep the estate account open and place it under executor administration	a Third Party Authority form completed for each executor indicating the signing instructions on the account.
close the account and transfer assets to beneficiary’s Macquarie Wrap account	a Macquarie Wrap Investment Account Closure form signed by all executors requesting for all assets to be liquidated into cash and the account to be closed. a Macquarie Asset Transfer form with all sections completed and signed by each beneficiary and executor. Note, consideration should be “nil” as the original cost bases are carried across into the beneficiary’s account. a Macquarie Asset Transfer form to transfer a linked Separately Managed Account (SMA).
close the account and transfer assets to beneficiary’s external account	a Macquarie Wrap Investment Account Closure form signed by all executors requesting for all assets to be liquidated into cash and the account to be closed. Signed by each executor to transfer all assets1, including cash, to the beneficiary’s account outside of Macquarie and close the account an original Australian Standard Transfer form for each managed investment and ASX-listed security, with all sections completed and signed by each beneficiary and executor. 1. Additional transfer documentation may be required. Please refer to our Transfers Guide for further information.

Joint account

Joint account holder/s can continue to use the account as usual. For accounts held in joint names, we can only accept instructions from the surviving account holder or their representative.

If all account holder/s are deceased, please follow the process for an Individual account.

Please note, we’ll continue to send statements with all current account holders’ names until we receive all required information requesting transfer or closure of the account.

There are additional requirements which depend on the surviving account holder’s instruction.

If you'd like to:	Please provide
transfer assets to the surviving account holder's wrap account	a certified copy of death certificate if the surviving account holder doesn’t currently hold a Macquarie Wrap investment account in their own name, a New Investment Series application completed in full. A financial adviser will need to apply for a new account online. a Macquarie Wrap Investment Account Closure form signed by the surviving account holder/s to transfer all assets1, including cash, to the surviving account holder’s account in their own name and to close the estate account a Macquarie Asset Transfer form to transfer a linked SMA. 1. Additional transfer documentation may be required. Please refer to our Transfers Guide for further information.
request a full withdrawal and close the account	a certified copy of death certificate a Macquarie Wrap Investment Account Closure form signed by the surviving account holder, providing the BSB and account number to transfer cash to, and directions to close the account.

If you'd like to:

Please provide

transfer assets to the surviving account holder's wrap account

a certified copy of death certificate
if the surviving account holder doesn’t currently hold a Macquarie Wrap investment account in their own name, a New Investment Series application completed in full. A financial adviser will need to apply for a new account online.
a Macquarie Wrap Investment Account Closure form signed by the surviving account holder/s to transfer all assets1, including cash, to the surviving account holder’s account in their own name and to close the estate account
a Macquarie Asset Transfer form to transfer a linked SMA.

1. Additional transfer documentation may be required. Please refer to our Transfers Guide for further information.

request a full withdrawal and close the account

a certified copy of death certificate
a Macquarie Wrap Investment Account Closure form signed by the surviving account holder, providing the BSB and account number to transfer cash to, and directions to close the account.

Corporate account including corporate trustee account where a director has passed away

For corporate accounts, there must be at least one director appointed for the company before we accept instructions related to the account.

If you'd like to:	Please provide:
remove a deceased director	a certified copy of the death certificate (if a death certificate is not available, an ASIC Company extract showing that the deceased director has been removed is acceptable) a copy of the updated ASIC Company extract showing that the deceased director has been removed a completed Beneficial Owner Details form (ensure the Company name is listed, not the Trust). Please note, we require deceased shareholders to be removed from the ASIC registry within 6 months of the change to directors. If the deceased shareholders remain registered, we may need to place restrictions on the account.
appoint a new director	a certified copy of identification for each new director a copy of the updated ASIC Company extract showing that the deceased director has been removed a completed Beneficial Owner Details form (ensure the Company name is listed, not the Trust). a completed Individual Identification form for each new director a Third Party Authority form completed for each new director and signed by the current and all new directors. Please note, we require deceased shareholders to be removed from the ASIC registry within 6 months of the change to directors. If the deceased shareholders remain registered, we may need to place restrictions on the account.
request a full withdrawal and close the account	a certified copy of the death certificate if there are surviving director/s: a Macquarie Wrap Investment Account Closure form signed by the surviving director/s. The instructions must request either for all assets1 to be sold into cash or transferred out, and for the account to be closed. if there are no surviving director/s, a director will still need to be registered in order to provide directions on the account. Please provide:  a copy of the ASIC Company Extract showing the newly-appointed director/s  an Individual Identification form completed by each new director  a certified copy of identification for each new director  a Macquarie Wrap Investment Account Closure form or written request signed by the new director/s. The instructions must request either for all assets¹ to be sold into cash or transferred out and for the account to be closed.  ¹Additional transfer documentation may be required. Please refer to our Transfers Guide for further information.

If you'd like to:

Please provide:

remove a deceased director

a certified copy of the death certificate (if a death certificate is not available, an ASIC Company extract showing that the deceased director has been removed is acceptable)
a copy of the updated ASIC Company extract showing that the deceased director has been removed
a completed Beneficial Owner Details form (ensure the Company name is listed, not the Trust).

Please note, we require deceased shareholders to be removed from the ASIC registry within 6 months of the change to directors. If the deceased shareholders remain registered, we may need to place restrictions on the account.

appoint a new director

a certified copy of identification for each new director
a copy of the updated ASIC Company extract showing that the deceased director has been removed
a completed Beneficial Owner Details form (ensure the Company name is listed, not the Trust).
a completed Individual Identification form for each new director
a Third Party Authority form completed for each new director and signed by the current and all new directors.

request a full withdrawal and close the account

a certified copy of the death certificate
if there are surviving director/s:
- a Macquarie Wrap Investment Account Closure form signed by the surviving director/s. The instructions must request either for all assets1 to be sold into cash or transferred out, and for the account to be closed.
if there are no surviving director/s, a director will still need to be registered in order to provide directions on the account. Please provide: 
- a copy of the ASIC Company Extract showing the newly-appointed director/s 
- an Individual Identification form completed by each new director 
- a certified copy of identification for each new director 
- a Macquarie Wrap Investment Account Closure form or written request signed by the new director/s. The instructions must request either for all assets¹ to be sold into cash or transferred out and for the account to be closed.

¹Additional transfer documentation may be required. Please refer to our Transfers Guide for further information.

Trust account and Self-Managed Super Fund

An SMSF with individual trustees must have at least two trustees linked unless a corporate trustee is appointed.

Depending on the Trust, please submit instructions advising whether:

a new trustee will be appointed, or
you want to remove a deceased trustee only.

You’ll also need to provide the relevant documents below.

If you'd like to:	Please provide:
remove a deceased trustee	a certified copy of the death certificate a certified copy of the Deed of amendment signed by all appointed trustees a completed Beneficial Owner Details form.
appoint a replacement individual as trustee	a certified copy of the Deed of Amendment showing newly appointed trustee/s, signed by all appointed trustee/s (please note we are unable to accept Meeting Minutes to change a Trustee) a certified copy of identification for each new trustee a completed Individual Identification form for each new trustee a Third Party Authority form completed for each new trustee and signed by the current and  all new trustees.
appoint a new corporate as trustee	a certified copy of the death certificate (if a death certificate is not available, an ASIC Company extract showing that the deceased director has been removed is acceptable) a copy of the updated ASIC Company extract showing that the deceased director has been removed a completed Australian Companies Identification form a certified copy of identification for each new director a completed Individual Identification form for each new director a Third Party Authority form completed for each new director and signed by the current and all new directors.
request a full withdrawal and close the account	A certified copy of death certificate If there are surviving trustee/s, please provide: a Macquarie Wrap Investment Account Closure form signed by each trustee for all assets including cash to be transferred out, and the account to be closed. If there is no surviving trustee/s, a trustee will still need to be nominated to administer the trust. Please provide: a certified Deed of Amendment showing newly appointed trustee a certified copy of identification for each new trustee. The new trustee must complete the Individual Identification form.

How to provide information to us

The quickest way for you to provide these documents to us is via email. Please email copies of the requested certified documents to clientservicesupport@macquarie.com.

If you have one, please quote the DEC reference number from any email correspondence.

Note: Where an original TFN Declaration is required, please post this to:

Deceased Estates
GPO Box 2520
Sydney, NSW, 2001

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