Commonwealth Direct Investment Account (CDIA) - SMSF cash management account

Using the CommBank app (existing CommBank customers):

1. Login to your CommBank app.
2. Go to ‘Pay’
3. Select ‘Transfer between accounts’
4. In the 'From' account drop-down menu, select the account you would like to transfer funds from.
5. Under the ‘To' account, use the drop-down menu to select the CDIA in your SMSF’s name.
6. Enter the amount you wish to transfer and an optional description, then click 'Transfer'.
7. A transfer summary will appear, you will have the option to ‘Transfer now’, ‘Transfer later’ or ‘Create a recurring transfer’, select an option and follow the prompts.

Using another financial institution:

1. Contact your other financial institution
2. Complete the transfer online or by phone, if available
3. Provide the BSB and account number of your SMSF’s CDIA
   
   

If you are transferring from a personal account, you should seek guidance from your SMSF professional first, as this may have taxation and compliance implications.

Yes. You can have more than one CDIA for different purposes, for example you can choose to have a CDIA in your name and a separate CDIA set up for an SMSF. While you can create multiple CDIAs under your CommSec profile, accounts that are outside of the Target Market Determination (TMD) may be closed in accordance with the Transaction, Savings and Investment Accounts (TSIA) Terms and Conditions.

When you open a CDIA as the cash management account for your SMSF, a CommSec Australian Share trading account will automatically be opened.

You can also link your CDIA to a range of investing options including:

• Notice deposits - CommSec Notice Investor
• Term Deposits
• CommSec International Shares

To move funds from an APRA-regulated super fund (such as an industry or retail fund) into a CDIA in your SMSF’s name, there are several requirements to meet first. For more information, read How to roll over your super and make contributions to your Self-Managed Super Fund.

Once your SMSF is ready to receive funds, there are three main ways to contribute:

1. Employer contributions
2. Personal contributions
3. Spouse contributions

and 2 types of contributions:

1. Concessional contributions
2. Non-concessional contributions

For more information, read How to roll over your super and make contributions to your Self-Managed Super Fund.

Yes. You can access your SMSF’s CDIA and make transactions in NetBank and the CommBank app. Once you have logged in using your NetBank ID, you can also switch to CommSec and navigate easily between both sites.

You can view your SMSF’s CDIA and SMSF Portfolio in the CommBank app by selecting ‘View all features’ on the home screen and selecting 'SMSF portfolio' under 'Invest your money'.

Without a valid TFN or a TFN exemption applied to your CDIA, you may be subject to withholding tax from any interest earned on your account/s.

To provide your TFN or exemption, please contact the Commonwealth Bank on 13 1998 or visit your local branch to update your TFN details.

If you wish to provide your TFN for share trading purposes, you'll need to provide it directly to the relevant share registry.

No, there’s no minimum balance requirement for a CDIA opened through CommSec.

Interest earned on your CDIA is calculated daily and credited to your account on the first calendar day of each month.

You can also check the current interest rate applicable to your CDIA. See the ‘SMSF’ column in the ‘Commonwealth Direct Investment Account’ table.

There are no account-keeping or electronic transaction fees for CDIA. Online transfers, direct debits and withdrawals from Commonwealth Bank ATMs within Australia are also free.

Prior to withdrawing funds from your SMSF’s CDIA, you should seek guidance from your SMSF professional first to ensure compliance with tax and super regulations.

For a complete list of potential fees and charges that may apply, please read the Transaction, Savings and Investment Accounts Terms and Conditions and the CBA Financial Services Guide. Rates and fees are subject to change.