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AFS licensees: Lodging your annual accounts and audit report or annual compliance certificate



Who lodges?
When to lodge
Paper or online lodgement?
How to lodge
Lodgement fees
Where to lodge
Can I ask for an extension of time?
Can I ask for an additional extension of time?
More information


Who lodges?


Each year, Australian financial services (AFS) licensees must lodge with ASIC their profit and loss statement and balance sheet (together with form FS70) and audit report (together with form FS71). Form FS70 must be completed and lodged by the licensee. Form FS71 is completed by the licensee’s auditor but lodged by the licensee.

AFS licensees listed in clause RG166.13 of Regulatory Guide 166 Licensing: Financial requirements (RG 166) and ‘limited’ AFS licensees (if the licensee does not deal with money to which Division 2 of Part 7.8 of the Corporations Act applies) are exempted from lodging an audit report and a Form FS71.

Limited AFS licensees, that do not deal with money to which Division 2 of Part 7.8 of the Corporations Act applies must lodge a Form 76 Annual Compliance Certificate with a Form FS70.

If you held an AFS licence for part of a financial year, and a limited AFS licence for the remainder of that financial year, you must complete and attach an FS71 Audit report for the period that you held a licence that was not a limited licence.

You must also complete and attach FS76 Annual Compliance Certificate for the period that you held a limited licence.

Foreign companies
If you are lodging your annual accounts as an AFS licensee that is a foreign company, different lodging requirements apply. See lodging your annual accounts as a foreign company using Form 405



When to lodge



If the AFS licensee is...the AFS licensee must lodge its financial report...
not a body corporatewithin 2 months after the end of its financial year. The financial year of an AFS licensee who is not a body corporate must end on 30 June. This means an AFS licensee who is not a body corporate must lodge by 31 August.
a body corporate that is a disclosing entitywithin 3 months after the end of its financial year. For example, if the financial year ends on 30 June, an AFS licensee which is a disclosing entity must lodge by 30 September.
a body corporate that is not a disclosing entitywithin 4 months after the end of its financial year. For example, if the financial year ends on 30 June, an AFS licensee which is not a disclosing entity must lodge by 31 October.

Under Class Order [CO 03/748], natural person licensees do not have to include in their profit and loss statements any income or expenses that do not relate to their financial services business. Download a copy of Class Order [CO 03/748].


Paper or online lodgement?


You can download and print paper copies of the forms and lodge them by mail or in person. You can also lodge your annual accounts and audit report online via our Licensees portal. However, if you are lodging online, you must still complete, sign and retain your signed original FS70 profit and loss statement and balance sheet and FS71 audit report and/or FS76 annual compliance certificate for your records.


How to lodge


The forms must be lodged together, in accordance with the Corporations Act and Regulations. Follow these steps for correct completion and lodgement:

Step 1The licensee downloads and prints out copies of forms FS70 and FS71 and/or FS76.
Step 2The licensee completes and signs Part 1 of FS70 (this must happen before the auditor can complete FS71). AFS licensees that are exempted from lodging an audit report and a Form FS71 should proceed to Step 6.
Step 3The licensee provides form FS70 (with Part 1 completed and signed) and copies of their profit and loss statement and balance sheet to the auditor.
Step 4The auditor completes the audit and signs form FS71.
Step 5After receiving the FS71 from the auditor, the licensee completes and signs Part 2 of form FS70.
Step 6The licensee lodges the forms, annual accounts and the relevant fee with ASIC.

Licensees lodging by mail
The licensee sends the:
  • signed, original FS70 and FS71 and/or FS76
  • profit and loss statement, balance sheet, and
  • required fee.
to:
    Australian Securities & Investments Commission
    PO Box 4000
    Gippsland Mail Centre VIC 3841

The licensee should retain signed copies for their records.

Licensees lodging online
The licensee logs into the AFS licensee portal to:
  • enter the information from the paper FS70, and
  • attach electronic copies of the profit and loss statement, balance sheet and audit report and/or annual compliance certificate in RTF, TIF or PDF format. File attachments must not contain any active or encrypted content and must be less than 3 MB in size. Up to four attachments are allowed.

The licensee must retain the signed original FS70 and FS71 and profit and loss statement, balance sheet and audit report and/or annual compliance certificate for their records, as required under the ASIC Electronic Lodgement Protocol.

Licensees or auditors lodging using SBR enabled accounting software
The licensee uses the Standard Business Reporting (SBR) enabled accounting software to:
  • enter the information from the paper FS70 into the SBR enabled accounting software
  • attach electronic copies of the profit and loss statement, balance sheet and audit report and/or annual compliance certificate in PDF format (mandatory attachments). File attachments must not contain any active or encrypted content and must be less than 10 MB in size. Up to five attachments are allowed, and
  • attach XBRL copies of the profit and lost statement (optional attachment)

The licensee must retain the signed original FS70 and FS71 and profit and loss statement, balance sheet and audit report and/or annual compliance certificate for their records, as required under the ASIC Electronic Lodgement Protocol.

More information regarding SBR; SBR enabled accounting software and XBRL can be found at www.sbr.gov.au Opens new window and www.asic.gov.au/sbr.


Information about fees

Go to the AFS licensees portal to lodge online


Lodgement fees



Fees to lodge the FS70:$238 for a natural person
$579 for a company, partnership or non-corporate trustee
Late lodgement fees:Up to 1 month $74
More than 1 month $308

Licensees lodging online will be able to print an invoice showing the relevant fee.

The FS71 and/or FS76 is lodged with the FS70. There is no fee to lodge the FS71 and/or FS76.

Here are the ways you can make a payment to ASIC.


Can I ask for an extension of time?



We can only consider granting an extension of time to lodge your annual accounts if exceptional circumstances that are completely outside your control exist and you have not had sufficient time to accommodate or adjust to the new circumstances. You must have lodged all other required documents with us, unless they are affected by the same circumstances.

We are unlikely to grant an extension of time because:
We cannot grant an extension of time if the lodgement date has passed.

Apply to us in writing, making sure that the application reaches us before the date that the FS70 was due to be lodged.

As well as explaining the exceptional circumstances, the application must:
Mail your application to:

If you are granted an extension, you must still pay the FS70 lodgement fee when you lodge your documents by the extended date. You will not need to pay a late lodgement fee as long as you lodge by the extended date.


Can I ask for an additional extension of time?



Generally, we will not grant an extension of time greater than three months on any single application.

If you want additional time, which would extend the original due date by more than three months, you can apply again to us in writing but you would need to provide even more compelling reasons than those included in your first application.


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