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The New Entity Request Form provides a template for collecting information from clients who want to establish a new company, trust, or self-managed superannuation fund (SMSF), helping practices gather the details needed to prepare for the establishment of the new entity.
The form covers the proposed business structure, company details, trust information, and SMSF requirements. Clients can provide information about proposed entity names, officeholders, shareholders, trustees, beneficiaries, and other relevant individuals.
Download the Form template and import it into FYI. You can then customise the Form to suit your practice's requirements and send it to clients to complete and submit their information.
The Form collects information to support the entity establishment process. Submitting the Form doesn't automatically establish or register the entity.
What's included in the New entity request form?
The New entity request form is organised into four main sections, allowing practices to collect information based on the type of entity being established. Expand the sections below for more information.
To demonstrate potential use cases, some fields in this sample template are tailored to Australian practices. These fields can be easily customised across regions.
New entity set up
Clients select the type of business structure they want to establish.
The Form includes sections for companies, trusts, and self-managed superannuation funds (SMSFs), allowing clients to provide the information relevant to their proposed entity.
The information required varies depending on the selected business structure.
Company information
Collect information about the proposed company, including:
- Proposed Company Name, including the legal element such as Pty Ltd.
- Whether the proposed company name is identical to a registered business name and the associated Australian Business Number (ABN).
- Whether the company name has been reserved with the Australian Securities and Investments Commission (ASIC), including the company reservation number.
- Whether the company will act only as trustee of an SMSF.
- Registered Office Address and Business Address.
- Type of Shares to be issued, Number of Shares to be issued, and Value per share to be issued.
The Form also includes sections for recording officeholder and shareholder details.
Officeholders and shareholders
Record information for up to four officeholders or shareholders, including:
- Officeholder Full Legal Name and role.
- Date of Birth and Place of Birth.
- Director ID.
- Residential Address.
- Type of Shares, Number of shares, and Amount paid per share.
- Whether the shares are beneficially held and the Beneficial Owner, where applicable.
Additional shareholder sections allow details to be recorded for up to two shareholders, including their names, shareholdings, and beneficial ownership information.
Trust information
Collect information about the proposed trust, including:
- Type of Trust and Trust Name.
- Whether foreign beneficiaries are to be excluded.
- Settlor's Full Legal Name and Residential Address.
- Appointor's Full Legal Name and Residential Address.
- Trustee and beneficiary information.
Corporate trustee
Where a corporate trustee is involved, the Form collects the Company Name, Australian Company Number (ACN), Business Address, and relevant company officer details and roles.
Individual trustees and beneficiaries
The Form includes sections for up to four individual trustees or beneficiaries, collecting information such as their Full Legal Name, Date of Birth, role, and Residential Address.
Practices can review and customise these sections to suit the trustee and beneficiary information required for their clients.
Self-managed superannuation fund (SMSF)
Collect information about a proposed SMSF, including the Name of Fund and Type of Trustee.
The Form includes different information requirements depending on whether the fund will use a new corporate trustee, an existing corporate trustee, or individual trustees.
New corporate trustee
Where a new company is proposed as trustee, collect information about the company, including:
- Proposed Company Name and business name registration details.
- ASIC company name reservation information.
- Registered Office Address and Business Address.
- Type, number, and value of shares to be issued.
- Officeholder, shareholder, and member details.
- Beneficial ownership information.
The Form provides sections for up to four officeholders, shareholders, or members, including their personal details, Director ID, residential address, and relevant shareholding information.
Existing corporate trustee
Where an existing company will act as trustee, collect the Company Name, ACN, Registered Office Address, and information about the relevant officeholders and members.
Individual trustees
Where individual trustees are selected, the Form includes sections for up to four trustees or members. These collect their Full Legal Name, relevant role, Date of Birth, Place of Birth, and Residential Address.
Importing the New entity request form
Download the New entity request form using the file attached at the bottom of this article.
Once you've downloaded the file, import the form template into FYI. Refer to Managing form templates for instructions on importing a Form template.
What's next?
After importing the New entity request form, review the template and customise it to suit your practice's requirements:
- Review the business structure options, company information, trust details, SMSF requirements, and personal information fields to ensure they reflect the information your practice needs to collect when assisting clients with establishing new entities.
- The Form includes sections for multiple officeholders, shareholders, trustees, and beneficiaries. Review these sections and make any changes necessary to suit your practice's entity establishment procedures.
For more information on editing Form fields and configuration, refer to Creating templates for Forms.
When you've finished reviewing and customising the template, ensure the Filing Status is set to Active. Refer to Managing form templates for instructions on updating the template.
Reviewing Form Rules
This Form uses Rules to dynamically display or hide fields and panels based on the information entered by the user. After importing the Form template, review the Rules in the Form Template Builder to ensure they're configured correctly for your practice. Follow the instructions in Creating a dynamic form using rules to review and configure the Rules, then test the Form to confirm the relevant fields and panels are displayed based on the responses selected.
Creating and sending the Form to clients
Once the template is ready, create a Client Form using the New entity request template. Select the relevant client and review the Form before sending it for completion.
Refer to Creating client forms for instructions on creating a Client Form.
Clients can complete the Form to provide information about the entity they want to establish, including any relevant company, trust, or SMSF details.
For instructions on sending the Form to clients, refer to Creating client forms.
Reviewing submitted information
After the client submits the Form, review the information provided as part of your practice's entity establishment process.
Check the proposed entity details, officeholder and shareholder information, trustee arrangements, and other relevant details before proceeding with any registration or establishment activities.
The Form collects information to support establishing a new entity. Completing or submitting the Form doesn't automatically register a company, establish a trust or SMSF, or create a new client or entity record in FYI.