Annual statements and late fees
Every company has an annual review date, usually the anniversary of its registration date. Soon after its annual review date, we issue each registered company with an annual statement and an invoice statement for the company’s annual review fee.
Depending on the circumstances, if you don’t meet the legal time limits that apply to paying your annual review fee and responding to your annual statement you may be charged any one of the following three types of late fees (or a combination of two late fees or all three):
- late payment fee
- late review fee
- late lodgement fee.
Each year the annual statement will show the current information from the ASIC register concerning the company such as name of officeholders, registered address, share structure etc.
You should review the information in the annual statement to confirm it is correct.
All information is correct
If it is correct then you don’t need to lodge anything or send the annual statement back to us, but you must still pay the annual review fee. You have two months from the annual review date to pay this fee (see below).
Some information is not correct
If some information is not correct, you must notify us of the changed details by lodging a Change to company details (Form 484 - online). You have 28 days from the date of issue of the annual statement to notify us. You must still pay your annual review fee within two months.
Your annual company statement may also include additional company information, under 'Contact address for ASIC use only'. This appears if you have notified us of a contact address or appointed a registered agent. Late lodgement fees or late review fees do not apply to this information but you need to keep it up to date.
Late review fee
If you do not notify us of the correct information within the 28-day review period, the company will be charged a late review fee:
- Change to annual statement notified up to one month late—$76 late review fee
- Change to annual statement notified more than one month late—$316 late review fee
You must still pay the annual review fee. You have two months to pay the annual review fee (see above).
Multiple late review fees will apply where a company fails to notify us of changes that should have been advised at the time of, or prior to the issue of earlier annual statements.
Late payment fee
A company may pay its annual review fee in advance. If it does not pay in advance it has two months from the annual review date to pay the annual review fee. Payment later than two months after the annual review date means a late payment fee will be charged (as well as the annual review fee):
- Payment up to one month late—$76 late payment fee
- Payment more than one month late—$316 late payment fee
Late lodgement fee
Any changes to company details should normally be notified by lodging a Form 484 within 28 days of the original change occurring. There is no fee for lodging a Change to company details (Form 484) on time, however notifications lodged outside this 28-day period will incur a late lodgement fee:
- Change of details lodged up to one month late—$76 late lodgement fee
- Change of details lodged more than one month late—$316 late lodgement fee
A late lodgement fee may be charged in addition to a late review fee when you notify of a change to company details more than 28 days after the original change occurred.
- Payments, fees and invoices
- How to avoid late fees
- Online lodgement for registered agents and officeholders
This is Information Sheet 3 (INFO 3), reissued in July 2016. Information sheets provide concise guidance on a specific process or compliance issue or an overview of detailed guidance.