Running a company - Annual statements
Each year, we send your company an annual statement shortly after the annual review date (which in most cases is the date you registered the company).
Your annual statement will contain:
- a statement of your company's current details,
- an invoice for you company annual review fee, and
- your company's corporate key
To keep your company registered, you must complete the following steps.
- Step 1: Pay your annual company review fee
- Step 2: Check and update your company details
- Step 3: Pass a solvency resolution
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.
If you have paid your annual review fees in advance, the amount shown on the invoice will be 'Nil'.
Depending on the company type, the annual review fee will change:
- A proprietary company - $254
- A special purpose company - $48
- A public company - $1,201
The annual statement pack we send will include an invoice that shows how much you owe.
Late payment fee
Late fees apply if you don't pay your annual review fee on time:
- Payment up to one month late - $78
- Payment more than one month late - $323
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 (Form 484). This includes changes to your addresses, share structure, officeholders and members.
You will need your corporate key to make changes online. You can find your corporate key on your most recent annual statement.
If you are a Responsible Entity for a registered scheme you must notify us of any changes to the scheme by a Change to scheme details (Form 491).
Late review fee
You must lodge changes with us 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 - $78
- Changes to annual statement notified more than one month late - $323
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 - $78
- Change of details lodged more than one month after a change occurred - $323
A company may be charged both a late lodgement fee and a late review fee
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 made by the directors of a company that, in their opinion, the company can or cannot 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.
Guide on what directors must do
|Solvency resolution||What you must do||Must be lodged with|
|Directors pass a negative solvency resolution||Lodge a Statement in relation to company solvency (Form 485)||Seven days after the resolution is passed|
|Directors pass a positive resolution||You don't have to notify us but the resolution must be stored.|
If you have not received your annual statement within a week of your review date, contact us online.
If you no longer need your company, you should consider deregistering it. Otherwise you'll still be charged the annual review fee and you'll still need to meet your officeholder obligations.
Video - Your company's annual statement
We've made a short video that explains where we'll send your annual statement, what it will contain, and what you need to do when you get it.
This is Information Sheet 3 (INFO 3), reissued in July 2017. Information sheets provide concise guidance on a specific process or compliance issue or an overview of detailed guidance.