--- title: When our customer is an SMSF, who do we need to KYC? description: When our customer is an SMSF, who do we need to KYC - A self-managed super fund is legally a trust, so the trust rules apply. --- [Skip to content](https://knowledge.easyaml.com/when-our-customer-is-an-smsf-who-do-we-need-to-kyc#main-content) English - Australia Show submenu for translations Open main navigation Close main navigation - English - Australia Show submenu for translations How can we help you? - There are no suggestions because the search field is empty. 1. [easyAML Help Centre](https://knowledge.easyaml.com/?hsLang=en-au) 2. [FAQs](https://knowledge.easyaml.com/faqs?hsLang=en-au) 3. [Trusts & Complex Structures](https://knowledge.easyaml.com/faqs?hsLang=en-au#trusts-complex-structures) # When our customer is an SMSF, who do we need to KYC? ## SMSFs are legally trusts: KYC each member-trustee for individual-trustee SMSFs. A self-managed super fund is legally a trust, so the trust rules apply. The structure (individual trustees vs corporate trustee) determines whose ID you collect. **Information to collect about the fund** - Full name of the fund - ABN - Trust deed - Trustee structure (individual trustees or corporate trustee) - Register of fund members **Individuals to identify (KYC) - individual-trustee SMSF (most common)** - Each member-trustee. Members of an SMSF are almost always also trustees, so the same people are captured under both roles. - PEP and sanctions screening on all identified individuals. **Individuals to identify (KYC) - corporate-trustee SMSF** - The trustee company (do KYB to verify it exists via ASIC) - Each director of that company. - Each UBO shareholder who owns/control 25% of trustee company - Each fund member. - PEP and sanctions screening on all identified individuals and company. For the broader trust framework that an SMSF inherits - beneficiary identification, settlor analysis, treatment by trust type - see: [When a discretionary trust is involved, who needs to be KYC'd?](https://knowledge.easyaml.com/when-a-discretionary-trust-is-involved-who-needs-to-be-kyc-d?hsLang=en-au) [When the customer is a trust, do beneficiaries need to be identified and verified? How does this differ by trust type?](https://knowledge.easyaml.com/trust-beneficiaries-verification?hsLang=en-au) [Does AUSTRAC require settlors to be identified and KYC as part of a trust CDD](https://knowledge.easyaml.com/settlor-kyc-requirements?hsLang=en-au)**?** See AUSTRAC's **[Initial CDD for a trust](https://www.austrac.gov.au/amlctf-reform/reforms-guidance/amlctf-program-reform/customer-due-diligence-reform/initial-customer-due-diligence-reform/initial-customer-due-diligence-guides-customer-type-reform/initial-cdd-trust-reform)** page. ### Related articles - [What does the KYB unit price include?](https://knowledge.easyaml.com/what-does-the-kyb-unit-price-include?hsLang=en-au) - [Glossary: Key Terms & Definitions](https://knowledge.easyaml.com/easy-aml-glossary?hsLang=en-au) - [What's the difference between CDD, KYC and KYB - and when does each apply?](https://knowledge.easyaml.com/cdd-vs-kyc-vs-kyb?hsLang=en-au) - [Does AUSTRAC require settlors to be identified and KYC as part of a trust CDD?](https://knowledge.easyaml.com/settlor-kyc-requirements?hsLang=en-au) - [When the customer is a trust, do beneficiaries need to be identified and verified? 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