If someone has inherited the business, the executor of the estate must transfer the business name registration to them. The executor must first become a legal personal representative. The person who inherits the business will need their own ABN.
Partnership changes
If you’re in a partnership, and the partners are changing but the partnership is continuing, you may not need to transfer your business name.
Check your partnership agreement to see if it allows you to change partners. If it does, you can just update your registration details:
The current business name owner must start the business name transfer. We will send them a transfer number. The new business name owner must register the name using that transfer number.
Once the current business name owner has submitted the transfer, we will cancel their registration within 28 days.
The transfer number is valid for 4 months and 28 days from the date of the transfer application. After that, the business name will be available to others.
Renewal periods are not carried over to the new registration. The current business name owner will not get a refund of the fees for the remaining registration period.
If you are the new owner, you should follow the process for registering a business name on ASIC Connect:
When you are asked for the business name, enter it exactly as it appears on the business names register. Then enter the transfer number in its exact format: the number 1, a hyphen, then 11 digits. For example, 1-12345612345.
If you are changing the ABN associated with your business name, you will need to start the transfer and then register the business name under the new ABN:
We can only stop a business name transfer if it has not already been processed.
If you want to stop a business name transfer, first search the business names register. Make sure the existing registration has not been cancelled and that the name has not been registered to the new owner:
If the business name is not cancelled and registered to the new owner, email BN.lodgements@asic.gov.au and ask us to stop the transfer. Include the business name and transfer number and tell us why the transfer needs to be stopped.
We will tell you within 5 business days if the transfer has been stopped.
If the business name is still available, you can register it again using the transfer number.
After the business name is transferred
The renewal period for the business name is reset. When they register, the new business name owner can choose a 1-year or 3-year renewal period.
Two listings for the same business name may briefly appear on the register. One will be registered to the previous business owner and one registered to the new business owner. The previous business owner’s listing will be cancelled after 28 days.