From www.smsfadviser.com: Advisers and accountants must understand the relationship between transfer balance account reporting and minimum pension payments.

A common mistake in transitioning to a pension income stream is failing to meet minimum payment requirements, which can affect eligibility for exempt current pension income and requires specific reporting adjustments.

When minimum payments are not met, a transfer balance account report should reflect the market value of the income stream as of June 30, without needing to amend prior TBAR events.