Transfer balance account reports (TBAR), do I have to lodge these and why?

TBAR are only applicable to Superannuation Funds and are used to report certain changes to a Members balance;

Moving from the Accumulation Phase to Retirement Phase (Commencing a Pension)

Ceasing a Pension

Commencement of a death benefit income stream

Provide details of a personal injury (Structured settlement) contribution

TBAR events must be reported no later than 28 days after the event occurs