Annual statements
This is Information Sheet 3 (INFO 3).
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 your company annual review fee, and
- your company's corporate key
Here's an example of what your annual statement will look like.
Find out where we send your company's annual statement.
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
Step 1: Pay your annual company review fee
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 - $321
- A special purpose company (proprietary) - $65
- A special purpose company (public) - $61
- A public company - $1,492
- A Corporate Collective Investment Vehicle - $1,492
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 - $96
- Payment more than one month late - $401
Step 2: Check and update your company details
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 - $96
- Changes to annual statement notified more than one month late - $401
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 - $96
- Change of details lodged more than one month after a change occurred - $401
A company may be charged both a late lodgement fee and a late review fee
Step 3: Pass a solvency resolution
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 a resolution made by the directors of a company as to whether or not, in their opinion, the company will be able to 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. The company must notify us if the directors pass a negative resolution.
If the directors of the company do not pass a solvency resolution within two months after a review date, the company must notify us.
To notify us, the company must lodge a Form 485 Statement in relation to company solvency.
Guide on what directors must do
| Solvency resolution | What you must do | Must be lodged within |
|---|---|---|
| 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. | |
| Directors do not pass a solvency resolution | Lodge a Statement in relation to company solvency (Form 485) | Seven days after the end of the two-month period following the annual review date |
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 closing 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.
Video transcript - Your company's annual statement
Each year, we'll send your company an annual statement pack, shortly after your annual review date.
Your annual review date is usually the anniversary of the date you registered the company.
If you have appointed someone to manage your company, we'll send your annual statement to them. If you have an online account with us, we'll email you when your annual statement is available.
Otherwise, we'll post it to your contact address or your registered office address.
Your annual statement pack will contain:
- a copy of your company's current details
- your invoice for your annual review fee, and
- your corporate key
Once you've got your annual statement, you need to do 3 things to keep your company registered:
- Pay your annual review fee
- Check and update your company details
- Pass a solvency resolution
To keep your company registered, you need to pay your fee by the due date. If you don't, late fees will apply and we may even deregister your company.
Your invoice has a number of different payment options, including credit card and BPAY.
You need to check your company's details when you get your annual statement to make sure they're correct.
If any information is incorrect, you can update your details online using your company account.
As part of your annual review, you also need to pass a 'solvency resolution'. This means that in the director's opinion, the company will or will not be able to pay 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.
A solvency resolution must be made within 2 months of your review date and kept with your company's records.
For more information about anything mentioned in this video, visit www.asic.gov.au/annual-statements
To learn more about ASIC, visit our website. You can also check us out on Facebook, Twitter, and YouTube for more information.
Important notice
Please note that this information sheet is a summary giving you basic information about a particular topic. It does not cover the whole of the relevant law regarding that topic, and it is not a substitute for professional advice. We encourage you to seek your own professional advice to find out how the applicable laws apply to you, as it is your responsibility to determine your obligations.
You should also note that because this information sheet avoids legal language wherever possible, it might include some generalisations about the application of the law. Some provisions of the law referred to have exceptions or important qualifications. In most cases, your particular circumstances must be taken into account when determining how the law applies to you.
Information sheets provide concise guidance on a specific process or compliance issue or an overview of detailed guidance.
This information sheet was updated in July 2024.
Related links
- Changes to your company
- Where your annual statement is sent
- Changing review date of company or scheme
- Advance payment of annual review fees