Key points:
- Companies receive an annual statement from ASIC. This is usually sent soon after the anniversary of their registration.
- To remain registered, you must pay an annual review fee, make sure the registration details on the annual statement are up to date, and pass a solvency resolution.
- If you do not complete these obligations on time, late fees will apply.
Annual statements
ASIC sends an annual statement to all registered companies. This includes an invoice for an annual review fee and a list of the current details we have about the company.
You can download an example annual statement to see what it looks like:
Example annual statement (PDF, 906 KB)
The annual statement is sent to one address only. If we do not have details for the first place on the list below, we’ll send it to the second, and so on:
- Your company's registered agent’s address, if it has one.
- Your company officeholder portal account, if you have one. You will receive an email with instructions when it’s available.
- Your nominated contact address.
- Your company’s registered office address.
If the company has not received an annual statement 5 business days after the annual review date, contact us.
Applying to change your company’s annual review date
You can apply to change your company’s annual review date. You cannot do this for an annual review date that has already happened.
Your obligations
After you receive the annual statement, you must do 3 things:
- Pay the annual review fee.
- Check the company details on the statement and update them on the register if you need to.
- Pass a solvency resolution.
Obligation 1: Pay review fee
You must pay the annual review fee by the due date on the annual statement, which is usually 2 months after the annual review date.
The fee amount and payment options will be on your annual statement. Current annual company fees are:
- {A52} for a proprietary company (except special purpose company)
- {A58} for a special purpose company (proprietary)
- {A53} for a special purpose company (public)
- {A51} for a public company (except special purpose company or a small transferring financial institution).
See more about common fees.
To get a discount, you can pay your annual review fee for a 10-year period in advance.
Refunds for advance payments are not available.
Obligation 2: Check and update details
The annual statement will list the details ASIC has about your company, including:
Check these details carefully. If they are incorrect, you must update them:
Changes to company details
Do not wait for your annual review to update the company details when they change. The company must update its details within 28 days of the changes occurring. If you don’t, a late fee will apply. This is called a late lodgement fee.
To avoid an additional late fee (known as a late review fee), the company must make any changes it has not already made within 28 days of the annual review date.
More details: Late annual company review
Obligation 3: Pass a solvency resolution
Company directors must pass a solvency resolution within 2 months of the annual review date, unless your company has lodged a financial report with ASIC in the past 12 months. Companies must keep their own record of this resolution.
A solvency resolution states whether the company can pay its debts when they are due, in the opinion of a majority of the directors. The directors’ opinion must be based on good evidence.
If the solvency resolution states the company will be able to pay its debts when due (a ‘positive’ resolution), the company must keep a record of the resolution, but it does not need to notify ASIC.
Tell ASIC if you do not pass a positive solvency resolution
If the solvency resolution states the company will not be able to pay its debts when due (a ‘negative’ resolution), the company must notify ASIC within 7 days of passing the resolution.
If you have not passed a solvency resolution within 2 months of the company's annual review date, the company must notify ASIC within 7 days.
Use this form to notify ASIC of a negative resolution or if you have not passed a resolution:
Form 485: Statement in relation to company solvency
If you no longer need your company
If you no longer need your company, you should consider closing your company. Otherwise, you'll still be charged the annual review fee and will continue to have obligations as an officeholder under laws including the Corporations Act.
