To be eligible to become a self managed super fund (SMSF) trustee, a person must be 18 years or older and generally:
- not be under a legal disability
- not have been convicted of an offence involving dishonesty
- not have been subject to a civil penalty order under the SIS Act
- not be insolvent under administration eg. an undischarged bankrupt, or
- not have been disqualified by a regulator.
Where the trustee of the SMSF is a company, the company must: