Late fees

Lodge documents and pay fees on time

Companies have obligations to lodge any required documents with ASIC, and undertake an annual review process. If the company does not lodge the document or pay the annual review fee within the required timeframe, a late fee applies.

For example, late fees apply if you are late:

• updating your details when they change
• paying your annual review fee
• updating details shown on the annual statement
• lodging any documents you are required to lodge with us, including updating your company details
• paying an industry levy fee.

You can be charged more than one late fee if you miss multiple obligations.

Fees for updating your company details late

You must tell us about changes to company details within the required time as they occur throughout the year. Do not wait until the annual review period, or extra late fees can apply.

If you do not keep company details up to date throughout the year, a late fee applies: The current late fees are:

• {LPF1_ETM} for lodging a change of details up to 1 month after the change.
• {LPF2_ETM} for lodging a change of details more than 1 month after the change.

Fees for paying your annual review fee late

To keep your company registered, you must pay an annual review fee. This fee is due within 2 months of the review date.

If you do not pay the fee on time, a late fee applies. The current late fees are:

• {LPF1_ETM} for payment up to one month late.
• {LPF2_ETM} for payment more than one month late.

Fees for updating your annual review details late

If any of the details on your annual statement are incorrect, you must tell us within 28 days after the issue date.

If you do not tell us within this timeframe, a late fee applies. The current late fees are:

• {LPF_ETM1} for notifying us up to one month late.
• {LPF2_ETM} for notifying us more than one month late.

These fees are in addition to fees for updating your company details late.

Fees for lodging documents late

The timeframe for lodging each document can be different. The lodgement guide for each form will tell you the timeframe.

A document is only considered lodged when it is received and accepted by us. If you send it to us through the mail, allow enough time for postage and delivery. For some forms, you must pay the fee before we can accept it.

Company officeholders are responsible for lodging company documents on time. If you use a registered agent to manage your documents, you are still responsible for ensuring documents are lodged on time.

If you lodge a document outside the required timeframe, a late fee applies. The current late fees:

• {LPF1_ETM} for payment up to one month late.
• {LPF2_ETM} for payment more than one month late.

Late payment penalty for industry funding levy

Late payment penalties apply if you do not pay industry funding levies on time. It is calculated at 20% per annum of the overdue amount and charged for each month after the payment deadline.

For example, if the overdue amount is $391, a late payment penalty of $6.52 will be added each month to the total payable.

($391 x 20% / 12 months = $6.52).

Late payment penalties apply from the 1st of the month after the levy was due.

ASIC industry funding

Fee waivers

ASIC may consider cancelling (waiving) late fees if there have been issues outside of your control, such as an emergency or natural disaster.

You must tell us all relevant information and give us supporting evidence about your situation. We need to consider all the facts and circumstances of your case.

Ask ASIC to review a late fee

Unpaid fees

If a company does not pay its annual review fees in full at least 12 months after the due date for payment, ASIC may take action to deregister it.

If a business name holder does not pay renewal fees, we may cancel its business name registration.