ASIC Company Annual Reviews

Step 1: Check all company details and update if required

Check the details on your annual statement carefully. If any details are incorrect, you can change your company details online, by lodging a Change to company details (ASIC Form 484). This includes changes to your addresses, share structure, officeholders and members.

Step 2: Pay the annual company review fee

To keep your company registered, you must pay the total amount on the invoice by the due date. Your invoice will have a number of different payment options, including credit card and BPAY.

Late payment fee

Late fees apply if you don’t pay your annual review fee on time:

  • 1 day to 1 month late – $82

  • Over 1 month late – from $340

Late review fee

You must lodge changes with ASIC within 28 days of the annual statement issue date, or a further late fee will apply.

  • Changes to annual statement notified up to one month late – $82

  • Changes to annual statement notified more than one month late – $340

Late lodgement fee

While you only receive one annual statement each year, changes to your company details must be lodged as they occur, to avoid a late lodgement fee.

  • Change of details lodged up to one month after a change occurred – $82

  • Change of details lodged more than one month after a change occurred – $340

A company may be charged both a late lodgement fee and a late review fee

Step 3: Pass and Store a Solvency Resolution

Company directors must pass and store a solvency resolution within two months of the annual review date, unless you have lodged a financial report with ASIC in the past 12 months.

A solvency resolution is a resolution made by the directors of a company as to whether or not, in their opinion, the company will be able to pay back its debts when they are due.

The directors must have a reasonable basis for their opinion and the resolution must be passed by a majority.

Your solvency resolution may be a:

  • Positive solvency resolution – passed when directors believe that the company will be able to pay its debts when they are due.

  • Negative solvency resolution – passed when directors believe that the company will not be able to pay its debts when they are due. The company must notify us if the directors pass a negative resolution.

If the directors of the company do not pass a solvency resolution within two months after a review date, the company must notify ASIC.