Do superannuation trustees need to comply with Financial Accountability Regime (FAR) accountability obligations?
A computed answer from the Rules Mate applicability engine, with the exact condition, the outcome for every structure and size, and the primary source.
Short answer: Yes
Yes. This obligation applies to superannuation trustees whatever their structure or size. The deciding fact: RSE licensee — APRA-regulated.
The obligation in brief
Comply with Financial Accountability Regime (FAR) accountability obligations. The Financial Accountability Regime extends BEAR-style accountability across banking, insurance and superannuation. Requires registration of accountable persons, accountability statements and maps, deferred remuneration arrangements, and breach reporting to ASIC/APRA.
Trigger: Being a FAR-regulated entity.
Why superannuation trustees get a different answer
Rules Mate runs its applicability engine across 9 business structures and 6 size bands for each of the 35 industries it maps. For 32 of those industries the answer for "Comply with Financial Accountability Regime (FAR) accountability obligations" is no. Superannuation trustees is one of the 3 where the answer is different: yes.
The deciding fact for superannuation trustees: RSE licensee — APRA-regulated.
About the industry: Trustees of APRA-regulated super funds.
Compare a professional services (general) business with 6–19 employees structured as a Pty Ltd company: the obligation does not apply (Requires APRA regulation).
Answer by business structure and size
Each cell is the engine's outcome for a business in superannuation trustees with that structure and size, assuming it sells to consumers and small businesses and holds customer contact details. "Check" means the obligation turns on a fact the industry does not settle.
| Structure | No employees | 1–5 employees | 6–19 employees | 20–99 employees | 100–499 employees | 500+ employees |
|---|---|---|---|---|---|---|
| Sole trader | Yes | Yes | Yes | Yes | Yes | Yes |
| Partnership | Yes | Yes | Yes | Yes | Yes | Yes |
| Trust | Yes | Yes | Yes | Yes | Yes | Yes |
| Pty Ltd company | Yes | Yes | Yes | Yes | Yes | Yes |
| Public company | Yes | Yes | Yes | Yes | Yes | Yes |
| Not-for-profit (unregistered) | Yes | Yes | Yes | Yes | Yes | Yes |
| Registered charity | Yes | Yes | Yes | Yes | Yes | Yes |
| Super fund | Yes | Yes | Yes | Yes | Yes | Yes |
| Foreign company | Yes | Yes | Yes | Yes | Yes | Yes |
What the obligation requires
- When due
- Continuous; specific events trigger ASIC/APRA notifications.
- Evidence to keep
- Accountability statements, accountability map, deferred remuneration arrangements, accountable persons register.
- Maximum penalty
- Civil penalties up to $1.82M (individuals); for entities, the greater of $18.2M, 3× benefit or 10% of annual turnover
- Regulator
- APRA and ASIC
- Jurisdiction
- Commonwealth (national)
Other obligations where superannuation trustees differ from the norm
- FAR deferred remuneration arrangements (40% deferral 4 years): Yes
- Annual YFYS performance test (MySuper + Choice): Yes
- Comply with APRA CPS 230 (Operational Risk Management): Yes
- Comply with APRA CPS 234 (Information Security): Yes
- Comply with Design and Distribution Obligations (DDO): Yes
- Comply with SIS Act trustee covenants: Yes
- All 15 answers for superannuation trustees
Other industries with a non-default answer
Questions
- Do superannuation trustees need to comply with Financial Accountability Regime (FAR) accountability obligations?
- Yes. This obligation applies to superannuation trustees whatever their structure or size. The deciding fact: RSE licensee — APRA-regulated.
- Is the answer the same for every industry?
- No. For 32 of the 35 industries Rules Mate maps, the answer is no. Superannuation trustees is one of 3 industries with a different answer.
Related
Sources
Computed by the Rules Mate applicability engine from the published obligation corpus; facts last checked 3 October 2026. Rules Mate is not a law firm and this is general information, not legal advice. Confirm your position with the regulator source or a qualified adviser before acting.