FAQs

Yes. It is possible to have an SMSF with only one member.

If the single member fund has a corporate trustee, the member must:

  • be the sole director of the trustee company; or
  • be related to the other director of the trustee company and there are only two directors of that company; or
  • not be an employee of the other director of the trustee company and there are only two directors of that company.

If the single member fund does not have a corporate trustee, the fund must have two individuals as trustees. The member must be the trustee with:

  • another person who is a relative of the member; or
  • any other person provided the member is not an employee of that person.