ASIC Registered Agent Service

What is the ASIC Annual Statement?

Each year, ASIC 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 you company annual review fee, and
• your company's corporate key

What do i need to do with my 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

What is the Annual 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 made by the directors of a company that, in their opinion, the company can or cannot 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.

What if there are changes to my company details?

You must lodge changes with ASIC within 28 days of the annual statement issue date, or a further late fee will apply. 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. A company may be charged both a late lodgement fee and a late review fee.

What changes to the Company do I need notify ASIC about?

• Change of a company's registered office or principal place of business address;
• Change of name of officeholder or proprietary company members;
• Change of ultimate holding company details;
• Cease an officeholder;
• Appoint an officeholder;
• Change to special purpose company status;
• Issue of shares;
  Cancellation of shares;
• Transfer of shares; or
• Changes to amounts paid on shares.

Charge on company property (for example to secure a loan) must be notified to ASIC within 45 days from the creation of the charge.
Change of company name must be notified to ASIC within 14 days after the resolution was passed.
Division or conversion of shares must be notified to ASIC within 14 days from the date of change.
Reduction in share capital must be notified to ASIC before the notice of meeting for the reduction in share capital (at least 22 days before the members' meeting).

Share buy back must be notified to ASIC:

• If buy back is conditional on a resolution being passed, then a form 281 must be lodged at least 14 days before the resolution is passed.
• If buy back is not conditional on a resolution being passed and a Form 281 is required, then a form 281 must be lodged at least 14 days before agreement is entered into.

Can I outsource corporate registry maintenance?