The Validation Error
This article is in relation to the following error message:
This error message occurs when the user creates multiple contacts for the same member, and attaches more than one of these contacts (with the same TFN) to the fund.
This will cause sections F&G of the tax return to show the same member multiple times.
This will also cause the member list to look like the example below.
To avoid this issue, when adding members to the fund via the member list, users must ensure that they add a new member account ONCE only.
To solve this issue once it already exists (multiple members with the same contact added to the fund), then the balances would need to be consolidated and the duplicate accounts ceased.
To consolidate the balances, it is recommended that the user establish/create an accumulation account for the one desired member account, and allocate respective balances across accumulation and pension accordingly. Please see Input Opening Balances for Pension Accounts for assistance with this process.
Existing Pension Accounts will need to be commuted to the newly established accumulation account.
Once this process has been completed, any TBAR events that have occurred will need to be updated in the Transfer Balance Dashboard. This is because the member codes for these events will remain as they were for the duplicate accounts. They will need to be updated.