To help your business prepare to meet the new SuperStream requirements we’ve compiled a quick overview of what you need to know about the Unique Superannuation Identifier (USI).
What is a USI?
The Unique Superannuation Identifier is a number that identifies a specific product that a superannuation fund offers. This identifier is used to determine where information regarding a superannuation contribution or rollover is sent. This is important because it assists internal communication between funds and allows you to successfully make a contribution to your employee’s fund.
How do you find a fund’s USI?
There are a number of fast and reliable ways to find an employee funds USI. When searching, please consider these avenues:
- Head online and Google search for the relevant USI’s
- Check your employees chosen funds website
- Call the fund your employee has nominated and ask directly
- Search the ATO website (some funds have joined the induction process)
It’s important to note that you only need to use a nominated fund’s USI once it crosses over to SuperStream and not before. In some instances the ATO has also approved the use of a Superannuation Product Identification Number (SPIN) as an alternative USI. Please check first if this applies to you.
Interested in learning out more? You might find the answers you’re looking for in our blog addressing 4 of the most common SuperStream questions.