How to apply early access to your super? Step by step guide

The Australian government has allowed both the permanent and temporary residents to access their super fund earlier. It will help them to face the crisis from this coronavirus pandemic. People can withdraw up to $10000 from their super saving account until July 1 and further $10000 next year. Though it is already announced that every eligible candidate can access the super, some people have found it confusing with its process.

Before we go through the step by step guide on how to apply early access to your super, We suggest you check your eligibility here.

Check the following things before you apply.

Your myGov account
Your Tax number
Australian bank account number
Your super account information (Your actual balance could be lower than the super account)

Step by Step guide on How to apply early super to your super balance?

Log in to your super account and check your balance first. Your balance might appear lower than your payslip and other documents. That account is based on the time when they reported to the ATO (Which could be up to 12 months ago).
Visit the myGov website and log in.
Go to https://my.gov.au/ and log in. If you do not have the account, create one with your genuine information.
You will get an option to link your account with ATO if you have not linked it already. Then click the link service option and choose ATO. If you have already linked move forward.
You will get the option to link by question or code. you can choose as per your wish but make sure you have the correct information.
Check your super balance there and click on coronavirus release.
Check your eligibility and reason your early access to super and click next.
Enter the super amount and bank details and submit the application.
It may take 4-7 days to process your application.
You are done 🙂

NOTE

If you submit your application to early access to your super amount, and you no longer need it, you can not cancel it. You need to contact your super fund. You can submit only one application for a financial year.

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