Run your company

Manage your company effectively. Understand the ongoing responsibilities involved in keeping company information current, meeting annual requirements and overseeing the company's operations and risks.

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Keep your company registered and its registration details up-to-date

Interacting with ASIC

As a company director, after your company is registered, you will need to deal with ASIC at different points during the life of the company.

This includes:

updating company details
updating officeholder, shareholder or share information
completing annual review requirements
paying ASIC fees
lodging certain forms
accessing ASIC guidance and online services.

Most interactions with ASIC can be completed online using ASIC’s online services.

Keep your company details up to date

You must notify ASIC when certain company details change.

This includes changes to:

the company name
company addresses
company type
officeholders, such as directors or secretaries
shares and shareholders
the company’s financial year or annual review date
the company’s constitution.

You need to notify ASIC within the required timeframes when certain details are updated. These timeframes vary, so it’s important to check what applies in each case.

Keeping ASIC up to date helps ensure your company information is accurate on the public register and reduces the risk of late fees or compliance issues.

Complete your annual review

Each year, ASIC sends your company an annual statement shortly after the anniversary of registration.

To keep your company registered, you must:

check that company details on the annual statement are correct
update details if required
pay the annual review fee
pass a solvency resolution (unless exempt).

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.

Late fees apply if you do not complete these obligations on time.

Manage business name renewals separately

If your company operates under a registered business name, you must renew that business name separately from your company’s annual review.

Company registration and business name registration are separate. Updating one does not automatically update the other.

Business names are usually renewed for one or 3 years. If a business name is not renewed, it may be cancelled.

Pay ASIC fees on time

ASIC collects a range of fees from companies and other entities, in line with Australian law. The law states when a fee must be paid and how much the fee is. ASIC fees are not subject to GST.

ASIC collects fees for services such as:

company registration
annual review
lodging certain documents.

If you do not pay certain fees on time, a late fee applies.

In some circumstances you can apply for a refund or to have a late fee waived.

You can check current fees and payment information on ASIC’s website. Be cautious of third-party services requesting higher fees.

Be cautious of third‑party service providers

You may receive emails or letters from third‑party providers offering to help with tasks such as company annual reviews or business name renewals.

These providers are not ASIC. You do not have to use them.

Some communications may look official or use urgent language to encourage payment. They may also charge additional service fees on top of ASIC’s fees.

Before paying or responding, you should:

check who the communication is from
confirm whether the task is actually due
compare the fee with ASIC’s published fees.

If you are unsure, wait for ASIC’s official reminder or check your details through ASIC’s online services.

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Making decisions about your company

Record your decisions

As a director, you will make decisions about how the company operates.

Some decisions can be made informally as part of day-to-day management. Other decisions should be formally recorded as resolutions.

Resolutions are often made at meetings, but in small companies they can also be made without a meeting, as long as they are properly recorded.

Keeping a clear record of decisions helps show that decisions were considered and made properly – which becomes important if questions are raised later.

Follow the rules for meetings

Even in a small company, formal company meetings must follow certain rules.

These rules are set out in:

the Corporations Act 2001, and
your company’s constitution or replaceable rules

In practice, this means following the correct process for giving notice, recording decisions and documenting outcomes.

Following these rules helps ensure your decisions are valid and reduces the risk of disputes or challenges later on.

Sign and execute company documents

There are legal rules about how a company signs documents so others can rely on them.

Generally, documents must be signed by:

two directors, or
a director and a company secretary

If your company has only one director, that director can sign on behalf of the company.

Getting this right is important – it ensures contracts and other documents are legally effective and can be relied on by others.

ASIC provides information about how to sign and lodge documents, including when electronic signatures can be used.

Pass solvency resolutions when required

As part of the annual review process, you must formally consider whether the company can pay its debts when they are due.

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. To make this decision, you need a clear understanding of the company’s financial position, including:

cash flow
debts
upcoming liabilities.

If your company cannot pay its debts when they are due, do not wait until the annual review. You must notify ASIC and you should get professional advice from an accountant, lawyer or registered liquidator as soon as possible.

You 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. Your company must keep its own record of this resolution.

Information Sheet 31 Lodgement of financial reports (INFO 31)
Company annual review
Form 485 Statement in relation to company solvency

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Maintaining records and registers

Financial record-keeping

Your company must keep financial records that:

correctly record transactions
show the company’s financial position and performance
allow financial statements to be prepared if required.

Financial records are defined in the Corporations Act 2001 and include:

invoices
receipts
cheques
books of prime entry
working papers.

These records must be kept for at least 7 years and can be stored electronically.

As a director, you do not need to personally prepare every record, but you are responsible for making sure proper records are kept.

Company shareholder registers

Your company must keep a register of the members (shareholders) of the company.

The register must contain the following information about each member:

their name and address
the date their name was added to the register
the shares held by each member.

The register must have information about shares including:

the date of every allotment (or issue) of shares
the number of shares in each allotment
the class (or classes) of shares
the share numbers (if any), or share certificate numbers (if any), of the shares
whether the shares are fully paid (including the amount paid on the shares and the amount unpaid on the shares, if relevant).

You must provide certain information on your register to ASIC, including when certain details change.

Keep minutes and records of decision

Important company decisions must be recorded in writing.

This may include:

minutes of meetings
director resolutions
shareholder resolutions
records of significant business decisions.

Even if you are the only director, you should keep proper records of key decisions.

In practice, this means recording things like:

major financial decisions
changes to the company’s structure or operations
significant business commitments or risks.

Keeping these records helps show that decisions were properly considered and can be important if the decisions are later questioned by ASIC, a court, shareholders, creditors or another party.

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Guard your business and assets

Protect intellectual property

Intellectual property, or IP, can be an important company asset.

This may include:

business names and branding
logos
designs
inventions
written material
software
confidential business information.

If you want exclusive rights to a brand, name or logo, you should consider whether trademark protection is needed.

Registering a business name does not give you ownership rights over that name. If protection is needed, you may need to register a trademark with IP Australia.

Manage cyber security risks

Cyber security is about protecting your company’s systems, data and information from being accessed, lost, damaged or misused.

As a director, you should treat cyber security as part of your role in managing risk.

In a small company, practical cyber security steps may include:

using strong passwords and multi-factor authentication
limiting access to sensitive information
keeping software and devices up to date
backing up important information
training staff to recognise scams and suspicious messages, and
having a plan for responding if systems or data are compromised.

Good cyber security can help the company keep operating, recover more quickly if something goes wrong, and reduce the risk of harm to customers, employees and others.

Get the right insurance

You should make sure your company has the right insurance to manage its risks.

Insurance can help protect you and your company from financial loss if something goes wrong.

The types of insurance your company may need will depend on the nature of the business, its risks and any legal or contractual requirements.

Insurance may be available for:

company assets, such as equipment, stock or premises
employees
income protection
directors and officers
professional or public liability risks.

Some insurance may be required by law or by contract. Other insurance may be optional but worth considering based on the risks your company faces.

In practice, you should:

identify the main risks your company faces
check whether any insurance is legally required
review cover as the company grows or changes
seek professional advice about appropriate cover.

Plan for personal and future events

If you are the sole director and sole shareholder, you should plan for what happens if you are unable to manage the company.

This may include:

illness or incapacity
unexpected absence.

Without a plan, the company may have difficulty operating, meeting obligations or allowing someone else to take control.

You should consider practical arrangements such as:

having an up-to-date will
planning who can manage the company if you cannot
keeping key records and access details organised
getting legal advice about succession arrangements.

Know who you're dealing with

Before entering into business arrangements, you should check who you are dealing with.

You can use ASIC’s public registers and other reliable sources to help confirm key information about a company, business or person.

For example, you may be able to check:

whether a company or business name is registered
the status of a company
whether a person or business holds a required licence or registration
whether a company is in external administration
whether a company or person is on our investor alert list
whether a person is banned or disqualified from managing companies.

You can set up company alerts to receive notifications when a company lodges with ASIC.

You may also consider additional checks such as credit checks, or checking references or trading history.

These checks can help you make more informed decisions and reduce the risk of dealing with the wrong person or business.

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Identify and avoid scams

Watch for scam warning signs

Scams can target companies of any size.

Scammers may contact your company through:

email
phone calls
text messages
fake websites
invoices
social media
impersonation of government agencies, suppliers or customers.

Warning signs may include:

urgent payment requests
unexpected invoices
requests to change bank account details
requests for passwords or sensitive information
pressure to act quickly
emails or websites that look similar to legitimate organisations
offers that seem too good to be true.

Practical steps you can take to avoid scams include:

checking payment requests before paying
confirming changes to bank details using a trusted contact method
limiting who can authorise payments
keeping software and security settings up to date
training staff to recognise suspicious requests
reporting scams when they occur.

In a small company, scams can have a serious impact, so simple checks can make a big difference.

Check renewal notices carefully

You may receive emails, letters or invoices offering to renew a business name, company registration or other service.

Some notices may come from private service providers, not ASIC.

These communications may look official or use urgent language. They may also charge more than ASIC’s published fees.

You do not have to use a private service provider to renew a business name or complete an ASIC task.

Before paying, you should:

check who sent the notice
confirm whether renewal is due
compare fees with ASIC’s published fees.

If unsure, you can renew directly through ASIC.

Be cautious about third‑party service providers that offer to renew your business name and company registration
Unsolicited business name renewal and company review notices
Scams impersonating ASIC
Renew a business name registration
Company annual review

Report scams

If you experience or identify a scam, you should report it to Scamwatch.

Scamwatch – run by the National Anti-Scam Centre (NASC) – collects scam information and shares it with members of the public and regulators to help prevent harm and stop scammers.

Reporting scams can help protect your company and may help warn others.

If money, data or systems have been affected, you should also consider what immediate steps are needed to protect the company, such as contacting your bank, securing accounts, changing passwords or seeking professional support.

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Managing and resolving disputes

Resolve disputes with other businesses early

If a dispute arises with another business, you should take steps to resolve it early.

Disputes commonly arise with:

customers (e.g. non‑payment or service issues)
suppliers (e.g. quality or delivery problems)
other businesses/companies (e.g. contractual disagreements).

Early action is important because disputes are usually easier to resolve at an early stage. Early resolution is also less costly financially and in terms of time, and less likely to disrupt your operations.

In practice, this means you should:

raise issues promptly and clearly
keep written records of communications
try to reach a practical solution before the dispute escalates.

If you need support, you can seek help from:

the Australian Small Business and Family Enterprise Ombudsman (ASBFEO)
your state or territory Small Business Commissioner.

These services can assist with mediation, low‑cost dispute resolution and practical guidance on next steps.

Information Sheet 173 Disputes about unpaid debts – small proprietary companies (INFO 173)
Disputes & Assistance | ASBFEO
Dispute support | ASBFEO
Five steps to resolve your dispute | ASBFEO

Manage disputes within your company

If a dispute arises within your company, you should address it early and seek advice where needed.

ASIC does not resolve internal disputes between directors and shareholders.

In small companies – including those with only one or two directors – disputes often relate to:

decision making
ownership and control
access to company information.

As a director, you should reduce the risk of disputes by:

keeping accurate and up‑to‑date records
documenting key decisions and the reasons for them
following your company’s rules (constitution or replaceable rules).

If a dispute cannot be resolved informally, you should seek legal advice to understand your options.

Information Sheet 162 Disputes between officeholders and/or members of small proprietary companies (INFO 162)
Information Sheet 188 Disputes about your rights as a proprietary company shareholder (INFO 188)
Information Sheet 186 Disputes about accessing company information (INFO 186)
Information sheet 190 Disputes about financial reporting by small proprietary companies (INFO 190)

Manage customers who owe your company money

If your company supplies goods or services on credit, you should take steps to reduce the risk of non‑payment.

In a small company, unpaid debts can quickly create cash flow pressure for your company.

You should consider:

using clear written contracts
setting payment terms before work starts
issuing invoices promptly
following up overdue invoices early
keeping records of communications
considering whether security or guarantees are appropriate for significant credit arrangements
seeking advice before entering large or ongoing credit arrangements.

As a director, you must stay aware of how unpaid debts affect your company’s financial position.

Read more: Information sheet 194 Protecting yourself when you supply goods and services on credit (INFO 194)

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Reporting concerns and raising issues with ASIC

Report misconduct to ASIC

If you suspect a person or company has breached a law administered by ASIC (such as the Corporations Act 2001), you can report misconduct to ASIC.

ASIC uses reports to identify potential breaches and inform regulatory action where appropriate.

ASIC uses this information to:

identify potential breaches
inform regulatory action where appropriate.

This can include misconduct relating to:

company management and corporate governance
insolvency
financial services
credit activities.

ASIC does not resolve private disputes between businesses, directors, shareholders or company participants. Its role is to regulate and enforce the law.

Before reporting misconduct, you should consider whether the issue is something ASIC can deal with or whether you need legal advice, dispute resolution support or if another regulator can assist.

Make a complaint about ASIC

If you are concerned about ASIC’s service, actions, decisions or how a matter was handled, you can make a complaint.

ASIC will:

review your complaint
respond within a set timeframe (usually within 3 business days)
use feedback to improve its services.

Feedback and complaints help ASIC review concerns and improve services.

Report technical or accessibility issues

If you have trouble using ASIC’s online systems, you can report the issue to ASIC for assistance.

This may include:

problems accessing an ASIC portal
difficulty submitting a form
problems viewing information
accessibility issues.

Contact ASIC for general questions

If you have a question about company obligations or how to complete a task with ASIC, you should check ASIC’s online guidance first.

This can often give you a quicker answer without needing to contact ASIC.

If you still need help, you can contact ASIC using the available online forms, phone numbers or contact options listed on our Contact us webpage.

Get extra help to communicate with ASIC

Extra support is available if you need help communicating with ASIC.

If you have difficulty speaking or understanding English, call the Translating and Interpreting Service (TIS National) on 131 450. They will call ASIC with an interpreter to help with your query.

If you are deaf, hard of hearing, or have a speech or communication difficulty, use the National Relay Service:

Choose your preferred contact option on the NRS call numbers and links
Give the National Relay Service ASIC’s phone number: 1300 300 630.