Why does my SMSF have to complete an Identity Verification Check?
All accounting firms providing Self Managed Super Fund services are required to register with AUSTRAC and comply with the governments expanded Anti-Money Laundering rules for accountants from the 1st July 2026. As part of the anti-money laundering compliance requirements, accountants are now required to complete formal identity verification checks along with PEP checks. Although annoying the process only takes around 2-3 minutes to complete and helps prevent identity theft.
SMSF Australia | AUSTRAC License
Whenever you engage an accounting firm after the 1st July 2026 you should check they are registered with AUSTRAC and legally allowed to support you with designated services such as the setup and ongoing maintenance (eg. Change of members, registered office services etc) of a Self Managed Super Fund.
SMSF Australia Pty Ltd is an incorporated accounting firm which is registered with AUSTRAC, our registration number is 259257119.
How much does the SMSF VOI Cost?
Nothing. SMSF Australia has chosen not to charge anything extra to clients for the VOI checks even though we do incur fees from NowInfinity for every check completed. We have instead chosen to include these in our Fixed Price SMSF Packages.
Who does the SMSF ID Check
As part of onboarding your fund with SMSF Australia you will need to verify your identity (VOI) which is done via NowInfinity, owned by Class Super which is the backbone of all our SMSF services which, in turn, is owned by Hub24 on the ASX. The reason we do all our ID Checks via their systems is their world class cyber security which links directly into our Class Super software ensuring your data is kept safe and secure.
SMSF Onboarding – ID Check
Once you have decided to onboard with SMSF Australia we will complete a VOI check on the members of the fund. This needs to be completed for all beneficiaries which in the case of an SMSF means all the members of the Self Managed Super Fund. Our staff will trigger the check via the Class Super system, and you will then receive an email and text message from NowInfinity to verify your identity.
Step by Step Guide: AML Check for SMSFs
Please see below a guide on how to complete the checks.
First you will receive an email & text message similar to the one below to verify your identity. Click the blue button to open up the verification links which will open the attached page confirming the documents you will need.
Then you will enter your basic personal details ensuring that the name and middle names match your Photo ID. For example, if you have recently been married and changed your name but the government hasn’t updated the records yet then you would need to complete the check using the current legal name which would be your maiden name.
From there it will ask which documents you would prefer to use to complete the VOI check, you can select which documents suit you best from the government mandated list of acceptable documents:
Choose one form of documentation to submit for verification, complete the details then tick the box and then click the verify button
If you have completed the process successfully you should see this screen and that is the process completed.
Frequently Asked Questions
Is an Identity Verification Check mandatory for all SMSF members?
Yes. All members of the SMSF are beneficiaries of the SMSF and thus are captured under the Anti-Money Laundering legislation. This means before an accounting or law firm can provide a designated service (such as an SMSF Setup, a Change of Members, or providing Registered Office services etc) they must have proof they have completed a formal VOI and PEP check.
What documents can I use to verify my identity?
Anecdotally we have found that most clients use an Australian driver’s licence or a Passport. That said, there is a list of acceptable government-issued documents that you can see on the screenshot below which you can choose to use to complete the process.
How long does the SMSF identity verification process take?
One to two minutes even if you are not particularly technologically savvy. It can be completed just as easily from a smartphone as a tablet or a computer.
Is my personal information secure during the ID check?
Definitely, this is a key area of concern for us just as it is for you. This is why SMSF Australia has paid considerable money to use the NowInfinity and Class Super’s secure verification platform, which employs bank-grade security measures to protect your personal information and identity documents.
What happens if my identity verification check fails?
It is important to remember that a failed verification does not necessarily mean there is an actual problem. In our experience the most common reasons that a VOI check fails include name mismatches (typos or missing middle names), outdated government records after a marriage or other name change, or simple data entry errors. If your VOI check fails our team will work with you to help you resolve the issue and so we can complete the verification process.
What is a Politically Exposed Person (PEP) check?
A Politically Exposed Person (PEP) check is one of the screening processes that is required under the AML rules. The check is designed to identify individual who currently, or have previously held, prominent public positions such as politicians, judges, senior government workers, military leaders etc.
It is important to note that family members and close associates of these individuals may also be classified as PEPs. Being identified as a PEP does not prevent you from becoming a client and does not imply any wrongdoing. It simply means we may need to undertake additional compliance checks as required by law which will add some cost and administrative burden but doesn’t actual change anything in the work we do.
Can I complete my SMSF ID check if I have recently changed my name?
Yes. The key thing is that the details you enter during the verification process must match the records held by the government register that is being tested against. For example, if you have recently got divorced, changed your name and not updated your driver’s license then your VOI will likely fail as the ID does not match. In this case you would need to get your ID updated to match your change of name before you would be able to pass a VOI check with any firm.
Do I need to complete a new identity check if I am already an existing SMSF Australia client?
No, we will not need to VOI all our existing clients, however, there may be circumstances where updated verification is required. These include if there are further changes in legislation (which is possible given it is an evolving area), if there are changes to fund ownership or control such as the addition of new members or significant changes to your personal details such as a change of name.
Can SMSF Australia provide services if I refuse to complete the identity verification process?
Unfortunately, no. Under the AML legislation, accounting firms cannot provide certain designated services without first completing the required customer due diligence procedures. If a client chooses not to complete the identity verification process, we may be legally unable to establish an SMSF, make changes to an existing fund, or continue providing certain regulated services. If we are caught doing so we will lose our license and no longer be able to trade so would effectively be putting our entire firm at risk for a single client which I doubt anyone would ever be willing to do. While we appreciate the government rules are annoying it only takes a couple of minutes, costs you nothing and keeps the government happy.