Closing your company - video transcript

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 www.asic.gov.au/closing.

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.

What is an ASIC key?

Your ASIC key is a unique number used in ASIC Connect that helps us establish your identity and protects your business information by making sure only you and those you have authorised can access it.

Learn more about ASIC keys

What is an AUSkey?

AUSkey is a single key to access government online services. In the future, you may no longer need different user IDs and passwords as AUSkey becomes accepted by more government agencies for their online services.

Learn more about AUSkeys

What is a corporate key?

A corporate key is an 8-digit number uniquely associated with a company’s ACN. Your company needs only one corporate key.

Learn more about corporate keys

What is an invitation key?

An invitation key is a unique key to register for, or connect to an entity in, the ASIC Regulatory Portal.

Learn more about invitation keys 

What is an industry funding security key?

Your industry funding security key is a unique number used to launch an online transaction in the ASIC Regulatory Portal that will enable us to calculate your final industry funding invoice. You will be prompted to submit business activity metric information on the operation of your business in the previous financial year.

Learn more about industry funding security keys

Last updated: 24/07/2018 11:09