Deregistration
Deregistering a company means that you do not have to continue your obligations as an officeholder. It's a good idea to consider deregistering a company if it's no longer trading.
This page contains:
- Voluntary deregistration
- Winding up a solvent company
- Winding up an insolvent company
- ASIC-initiated deregistration
- Stopping deregistration
- Video: Closing your company
Voluntary deregistration
You can apply for voluntary deregistration by lodging an Application for voluntary deregistration of a company (Form 6010).
For us to accept your application, you need to fulfil these requirements:
- all members of the company agree to deregister
- the company is not conducting business
- the company's assets are worth less than $1,000
- the company has no outstanding liabilities (e.g. debts)
- the company is not involved in any legal proceedings
- the company has paid all fees and penalties payable to ASIC.
If the company holds an Australian Financial Services Licence (AFSL) or an Australian Credit Licence (ACL), they should be cancelled first.
Read more about voluntary deregistration.
Winding up a solvent company
If a company is solvent, but does not meet the requirements for voluntary deregistration (e.g. has assets worth more than $1000), the company's members can 'wind up' the company. This involves resolving outstanding affairs including:
- ceasing or selling operations
- payment of outstanding debts and
- appointing a liquidator to manage any assets.
Read more about winding up a company.
Winding up an insolvent company
If the company is insolvent, you can't apply for voluntary deregistration. Unless you refinance the company and make it solvent, you will need to consider voluntary administration or liquidation.
Read more about winding up an insolvent company.
For more information about what to do if you're insolvent and your obligations, see Insolvency.
ASIC-initiated deregistration
ASIC may deregister a company if we believe the company has ceased trading or has outstanding fees and penalties. This includes:
- the company has not paid its annual review fee within 12 months of the due date
- the company has not responded to a Company compliance notice or
- the company has not lodged any documents in 18 months and we believe the company is no longer in business.
Read more about ASIC-initiated deregistration.
Stopping deregistration
If you've applied for voluntary deregistration and changed your mind or ASIC has begun to deregister your company, you may be able to stop deregistration.
A third party (e.g. another company) can apply to ASIC to defer deregistration of a company if they are conducting, or plan to conduct, legal proceedings against the company.
Read more about stopping deregistration.
Video: Closing your company
We've put together a short video to help you understand when you can close your company, how to do it, and what you need to consider.
Video transcript: Closing your company
Registered companies have a number of obligations with ASIC. This includes keeping your details up to date and paying your annual review fee.
If you've stopped trading and you don't need the company, it's a good idea to consider closing it. This can help you avoid unnecessary fees.
To close your company, you can apply for voluntary deregistration online. When the company is deregistered, you are removed from your officeholder obligations.
You should apply for deregistration at least two weeks before your annual review fee is due. You can check your review date by searching our register.
This gives us enough time to process your application before your annual review fee is due.
Before we can accept your application, you need to meet a number of requirements. These include:
- all members of the company agree to deregistration
- the company is not carrying on business
- the company's assets are worth less than $1000
For a full list of requirements, visit Closing your company.
To apply for deregistration, lodge an Application for voluntary deregistration of a company online.
There is also an application fee, which you must pay before we can assess your application.
Once your application has been reviewed, we'll contact you to let you know the outcome.
If your company doesn't meet the requirements for voluntary deregistration, you may need to consider other options. Visit www.asic.gov.au/closing for more information.
To learn more about ASIC, visit our website. You can also check us out on Facebook, Twitter, and YouTube for more information.