InFocus September 2026 - Volume 35 Issue 8

Get ready for new director ID requirements from 1 July 2027

From 1 July 2027, new laws passed under the Treasury Laws Amendment (Business Registries Stabilisation and Uplift) Act 2026 will require companies to provide director identification numbers (director IDs) to ASIC.

Companies will need to provide director IDs to us through company reporting processes, including annual reviews and when notifying changes to director details. 

Getting ready - supporting clients
Registered Agents can support their clients by raising early awareness and helping them understand the upcoming requirements.

To help prepare, companies and directors are encouraged to check that company and director information is current and accurate, including:

• checking company details are up to date
• confirming all current directors are correctly recorded
• updating any incorrect names, addresses or contact details.

Keeping information up to date now may help avoid delays or issues when the new requirements commence.

We also encourage checking director details recorded on the ASIC companies register against those held by the Australian Business Registry Services (ABRS) and updating records where necessary.

Directors can review their director ID details by visiting the ABRS Manage your director ID webpage, where they can:

• download a PDF copy of their director ID details
• update their details if they have changed.

Find out more
Further information and guidance will be provided before 1 July 2027.

• Visit the ASIC director ID webpage and FAQs.
• Check our Information flyer: Important changes to director ID obligations.
• Read about New laws to help Australians know who stands behind a company.

You must have no outstanding liabilities before applying for voluntary deregistration of a company 

Before a director applies to voluntarily deregister a company, they must be satisfied the company has no outstanding liabilities. 

We have identified voluntary deregistration applications where companies still had outstanding liabilities. Sometimes these liabilities were unknown to directors or incorrectly believed to have been dealt with.

What accountants and registered agents need to know
Before lodging Form 6010 Application for voluntary deregistration of a company, accountants and registered agents should ask directors to confirm the company has no outstanding liabilities.

Accountants and registered agents should encourage directors to check whether the company has any:

• tax debts or outstanding activity statement obligations
• unpaid employee entitlements
• unpaid supplier invoices
• loan, lease or finance obligations
• disputed or recently identified creditor claims
• other amounts owed by the company to creditors, including the Australian Taxation Office.

Directors should not lodge Form 6010 unless all company liabilities have been identified and paid, settled, released or otherwise extinguished.

Common misconceptions
During a recent review, we found some directors who lodged a Form 6010:

• were unaware that liabilities remained outstanding
• assumed a company that had ceased trading had no liabilities
• believed an ATO payment plan meant no liability remained outstanding
• relied on advice from accountants or registered agents without independently verifying the company’s liability position.

Consequences for applying for deregistration with outstanding liabilities
Form 6010 requires a declaration that the company has no outstanding liabilities. Providing false or misleading information in a document lodged with ASIC is a criminal offence.

We have previously taken criminal enforcement action against directors who lodged voluntary deregistration applications despite outstanding company liabilities.

More information

• Form 6010 Application for voluntary deregistration of a company
• Voluntary deregistration of a company

Working together to build business confidence

Registered agents play an important role in helping businesses understand and meet their obligations. Most registered agents provide valuable support to businesses using registry services.

Recently, we alerted companies and business name holders to unsolicited correspondence about annual reviews and business name renewals, that may appear to be associated with us, creating confusion about official fees and commercial services.

While registered agents can charge for their services, we've received concerns about marketing practices that may not clearly explain additional fees or could be mistaken for official communications.

To help maintain that trust, we monitor complaints and reports about potentially misleading conduct and act where providers do not meet our Registered Agent Terms and Conditions (T&Cs).

As part of this work, we recently cancelled the registrations of Registration Pty Ltd, Biz Australia Pty Ltd (reg.com.au), and Registry Australia Pty Ltd (registry.com.au) for breaches of these T&Cs.

We will also continue to act where individuals or businesses falsely claim or imply that they are affiliated with us through the use of our name, logo or branding.

By working together to promote clear, transparent and professional practices, we can help businesses make informed choices and maintain confidence in the services they receive.

For more information, please read our media release on Unsolicited business name renewal and company review notices.

Financial reports due soon. Start preparing now. 

Some companies must lodge financial reports. If your company has a 30 June financial year end, now is a good time to prepare for your upcoming financial reporting obligations.

Disclosing entities and registered schemes must lodge their financial reports within three months after the end of the financial year.

All other companies must lodge their financial reports within four months after the end of the financial year.

Financial reports must be lodged online. Preparing your documents early can help ensure a smooth lodgement process and avoid last-minute delays.

For more information about financial reporting requirements and how to lodge, visit our website.

ASIC releases research findings to help shape external stakeholder communications 

We're undertaking a significant digital improvement program to make its business registers and online services more secure and easier to use.

Feedback from company directors and secretaries, small business owners, intermediaries and other key stakeholders is shaping how we engage and communicate as part of our registry modernisation and uplift delivery. 

Research conducted earlier this year showed that directors are motivated to meet their obligations and trust us to act in the best interests of the public.

In addition, feedback identified several opportunities for enhancement, such as:  

• the need for more support and guidance
• clearer, simpler and better tailored communications
• earlier and two-way engagement.   

The insights from this research are directly informing our communications and stakeholder engagement strategy, which will ensure stakeholders receive practical and timely information via their preferred channels.

Spotlight article from other Government departments or industries

ATO course available to help manage your small business tax debt with confidence The ATO's Managing small business tax debt course explains what a tax debt is, how it can accumulate, and the potential consequences of unpaid obligations. The course also provides practical tips to help prevent tax debt, including managing cash flow, setting aside money for tax and keeping good records, as well as information on support options if you're experiencing difficulties paying on time. Access the course at Managing small business tax debt | Essentials to strengthen your small business.