Lodge online

Register for online access

How to lodge

Download paper forms

Search all forms

Search ASIC registers

Within: 

Search financial services/credit licensees and representatives, liquidators, auditors and more

Professional registers

--------------------------------------------------

More information

Lodge online

decrease text size increase text size print page

Changing the review date of a company or managed investment scheme





What is a review date?


The annual review process for companies and managed investment schemes (schemes) is based on a 'review date', the date the company or scheme was registered or incorporated as recorded in the register we maintain. For example, if your company or scheme was registered on 28 March 1999, it will have a review date of 28 March each year. If your registration date is 29 February, it will be 28 February each year.

We will issue an annual statement to your company or scheme within a few days after its review date. The annual statement includes an invoice to pay and a statement of the company's or scheme's details for you to review.

If your company is registered as a charity with the Australian Charities and Not-for-Profits Commission (ACNC) some of your reporting obligations to ASIC will no longer apply. See here for details.

Can I change my review date?


Yes, in certain circumstances - see below.


Under what circumstances will we approve an application to change a review date?


We will generally approve a change to a review date either by bringing the date forward or moving it back in the following circumstances:

What are exceptional circumstances?


We will assess whether exceptional circumstances exist in light of the facts of the particular request.

Varying a review date on the basis of registered agent workload management only is not considered sufficient reason to approve a change. The law requires compliance with reporting requirements by companies on an ongoing basis throughout the year. For companies that comply on an ongoing basis, the annual review process should be relatively straight forward, requiring a company to review its details, declare solvency and pay an annual review fee. Aligning of review dates for unrelated companies by agents is not considered consistent with the principles of law reform that aim to simplify lodgement and compliance for companies.

Similarly, an adverse financial circumstance is not sufficient reason to change a review date. In these situations contact us and payment arrangements may be agreed.


When does the new review date take effect?


Table 1 shows when a new review fee will take effect and includes specific examples.

Table 1 When a new review date takes effect




If...

then the change applies...

Example

the original review date is later than the new review date.

before the next anniversary of the original review date

A company that has its application approved in September 2010 for a change of review date from 2 February to 12 November will have the change take effect immediately – that is, the next review date will be on 12 November 2010

the original review date is earlier than the new review date.

after the next anniversary of the original review date

A company that has its application approved in September 2010 for a change of review date from 26 February to 8 August will have the change take effect after 26 February 2011 – that is, the next review dates will be on 26 February 2011 then on 8 August 2011 and on 8 August each following year.

Changing a review date may result in two annual reviews in the financial year in which the change first takes effect. Where this occurs a review fee will not be charged for the second review date in that financial year.

For instance, where a review date is changed to a date that falls later in the financial year than the original review date:
The annual review fee will only be payable on the first annual review date within a financial year.

All other requirements of the annual review remain. This includes the need to review the company (or scheme) statement and the obligations in terms of the solvency declaration.

Table 2 shows some practical examples.

Table 2 Examples of review date changes and the resulting number of annual reviews in a financial year



If you apply to us on...and your current review date is...and you want your new review date to be on...then the result will be...
1 August 20121 October1 Decembertwo annual reviews in 2012-13 financial year.
15 May 20121 October15 Februarytwo annual reviews in 2012-13 financial year.
1 December 20121 October1 Februarytwo annual reviews in 2012-13 financial year.
15 January 20121 March15 OctoberOne annual review in 2011-12 financial year & one annual review in 2012-13 financial year.
15 August 201231 January15 OctoberOne annual review in 2012-13 financial year.


When can I apply?


You can apply at any time.


Who can apply to change a review date?




Will the new review date apply for one year, or forever?


The new review date will apply for the life of the company or scheme unless you apply to change it again.


How do I apply to change a review date?



Complete and lodge an Application to change the review date of a company or registered scheme (Form 488). Only one application is required for a group of companies or schemes wishing to align or vary their review dates (i.e. with common officeholder or ultimate holding company).
Include the application fee with the form. The fee is based on the number of companies or schemes in the application and will not be refunded if the application is unsuccessful:
Allow at least two weeks for your application to be considered. Even if your application is otherwise in order, we can't guarantee that we can change your review date in a shorter time.

Post your application to:
We will write to tell you of the outcome of the application.

decrease text size increase text size print page