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 - $310
• A special purpose company (proprietary) - $63
• A special purpose company (public) - $59
• A public company - $1,440
• A Corporate Collective Investment Vehicle - $1,440

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 - $93
• Payment more than one month late - $387

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 - $93
• Changes to annual statement notified more than one month late - $387

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 - $93
• Change of details lodged more than one month after a change occurred - $387

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.

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