• Written by: James Carey, CA CTA
• 23/02/2026

ASIC Annual Review Guide 2026: Fees, Deadlines & What You Must Do

Every registered company in Australia must complete an annual review with the Australian Securities & Investments Commission (ASIC). Miss it and you face automatic late fees of $98 to $411 — plus the risk of deregistration.

Whether you run a Pty Ltd, a public company, or a registered foreign company operating through a branch office, this guide covers the ASIC annual review process for 2025-26: current fees, deadlines, what you need to confirm, and how to avoid costly mistakes.

What Is the ASIC Annual Review?

The ASIC annual review is a mandatory yearly process that ensures the details ASIC holds about your company are accurate and up to date. It serves three purposes:

1. Confirming company details — ASIC sends you an annual statement listing the information it holds on record for your company. You must check this information and either confirm it is correct or update any details that have changed.

2. Paying your annual review fee — Every registered company must pay an annual fee to maintain its registration. The amount depends on the type of entity you operate (see fee table below).

3. Passing a solvency resolution — Directors of proprietary companies must pass a resolution that the company is able to pay its debts as and when they become due. This resolution must be passed within two months of the review date.

The annual review date is almost always the anniversary of your company's original registration with ASIC. ASIC issues the annual statement approximately two weeks before this date. The statement includes an invoice for the annual review fee, the payment due date, and a summary of all details on record — including your registered office, directors, members, and share structure.

Failing to complete your annual review does not just attract late fees. If ASIC does not receive your fee and you do not respond to follow-up notices, it can commence involuntary deregistration under section 601AB of the Corporations Act 2001.

2025-26 Annual Review Fees

ASIC fees are indexed annually to the Consumer Price Index (CPI) and take effect from 1 July each year. The following fees apply from 1 July 2025 through 30 June 2026:

Pay Up to 10 Years in Advance

ASIC allows you to pay the annual review fee up to 10 years in advance, locking in the current rate and protecting against future CPI increases. For a Pty Ltd, that is $3,290 at the current $329/year rate. Arrange advance payment through the ASIC Connect portal.

Annual Review Timeline

What Happens If You Miss the Deadline

• Within 1 month late: A late payment fee of $98 is automatically added.
• More than 1 month late: The late fee increases to $411.
• Continued non-payment: ASIC sends a deregistration notice and can commence involuntary deregistration. Your company will be struck off the register and cease to exist.

There is no grace period. Late fees are applied automatically.

What You Need to Review and Confirm

Your annual statement lists all details ASIC holds about your company. You must verify each of the following:

Registered Office and Principal Place of Business

Your registered office is the official address where ASIC and other parties can serve documents on your company. It must be a physical street address in Australia — PO boxes are not accepted. Your principal place of business is where your company carries on its main activities, and can be different from the registered office. Both must be current. For foreign companies that need an Australian address, our registered office address service provides a compliant solution.

Directors and Secretary

All current directors must be listed accurately on the ASIC register, including their full legal name, date of birth, residential address, date of appointment, and Director Identification Number (director ID). If a director has resigned, been appointed, or changed their details, ASIC must be notified within 28 days — do not wait until the annual review.

For companies that require an Australian-resident director, our resident director service can assist.

Members, Share Structure & Ultimate Holding Company

For proprietary companies, verify that all current shareholders are listed, share class details are correct, and any share transfers completed during the year are reflected. If your company has an ultimate holding company, this must be disclosed to ASIC and updated if it changes — for example, due to a corporate restructure or acquisition.

How to Complete the Annual Review

There are three ways to complete your ASIC annual review:

1. ASIC Connect Online Portal (Recommended)

The fastest method is through ASIC Connect. Log in using your company key or myGovID, review your annual statement, update any incorrect details via change forms, and pay the annual review fee online using BPAY, credit card, or direct debit. Payment is processed immediately.

2. Paper Lodgement

You can also pay by cheque or money order using the payment slip attached to your annual statement, mailed to ASIC at PO Box 4000, Gippsland Mail Centre VIC 3841. Allow adequate time for postal delivery — if payment is received after the due date, late fees apply regardless of when you posted it.

3. Through an Authorised Agent

Many companies — particularly foreign companies operating in Australia — engage a registered ASIC agent or corporate secretarial service to handle the annual review on their behalf. An authorised agent monitors deadlines, reviews statements for accuracy, lodges change notifications, and pays the fee on time. Our ASIC corporate secretarial service manages the entire annual review process for both Australian and foreign-registered companies.

Late Fees and Penalties

ASIC's late fee regime is strict and largely automatic.

Current Late Fee Amounts (2025-26)

Late fees are cumulative. If you both pay your annual review fee late and lodge a change notification late, you receive two separate late fees. For example, paying your fee six weeks late ($411) and lodging a change of address two months late ($411) would result in $822 in penalties on top of the annual review fee.

Directors are personally liable. Under the Corporations Act 2001, directors are jointly and severally liable for late fees. ASIC can pursue individual directors for unpaid fees. This is particularly relevant for resident directors of foreign companies, who carry personal exposure for compliance failures.

Deregistration is a real risk. If the annual review fee remains unpaid after follow-up notices, ASIC will commence involuntary deregistration. Once deregistered, the company cannot legally carry on business, assets may vest in the Commonwealth, and reinstatement requires a court order.

ASIC can waive late fees only in limited circumstances — natural disasters, serious medical emergencies, or system errors. Administrative oversights are not accepted grounds.

Special Requirements for Foreign Companies

Foreign companies holding an Australian Registered Body Number (ARBN) have additional obligations beyond the standard annual review.

Form 406: Annual Return of a Foreign Company

In addition to the annual review, registered foreign companies must lodge a Form 406 — Annual Return of a Foreign Company with ASIC. This is a separate requirement and carries its own lodgement fee of approximately $1,260 .

Key requirements for Form 406:

• Lodgement frequency: Once in every calendar year.
• Deadline: Within one month after the date of the company's annual general meeting (AGM) in its country of incorporation. If the company is not required to hold an AGM under the laws of its home jurisdiction, the return must be lodged within one month of the anniversary of its Australian registration.
• Lodgement method: Form 406 cannot be submitted online. It must be downloaded, completed, and mailed to ASIC with the lodgement fee.
• Late fees apply: If the form is not received within the prescribed lodging period, late fees of $98 (up to one month late) or $411 (more than one month late) are added.

What Form 406 Requires

The annual return must include a balance sheet and profit and loss statement (in the format required by your home jurisdiction's laws), a list of directors and secretary, details of any constitutional changes, and the registered office address and local agent details in Australia.

Certified Document Updates

Foreign companies must keep certain documents filed with ASIC current. If your certificate of incorporation, constitution, or director list changes, certified copies must be lodged. Certification must be by a notary public, Australian legal practitioner, or an authorised officer of the company.

Local Agent Requirement

Every registered foreign company must have a local agent who is an Australian resident. The local agent is responsible for ASIC compliance, including the annual review and Form 406 lodgement. Changes must be notified via Form 418 within 28 days.

Changes During the Year

You do not need to wait for the annual review to update your company details with ASIC. In fact, the law requires you to notify ASIC of most changes within 28 days of them occurring.

Australian companies use Form 484 for most changes — including registered office address (Section C), director appointments or cessations (Section B), share structure updates (Section D), and ultimate holding company changes (Section A). Negative solvency resolutions must be reported on Form 485 within just 7 days.

Foreign companies (ARBN holders) use Form 492 for changes to their registered office in Australia, directors, company name, or home office address. A change of local agent requires Form 418, and cessation of business in Australia is reported on Form 427 within 7 days.

Late lodgement of any change form attracts the same late fees as the annual review — $98 within one month or $411 beyond one month. Multiple late lodgements can result in multiple late fees stacking up.

Common Mistakes to Avoid

After helping hundreds of companies manage their ASIC compliance, we see the same mistakes repeatedly. Here are five of the most costly — and how to avoid them.

1. Not Updating Your Registered Office Address

If your company has moved but you have not updated ASIC, your annual statement goes to the old address. You may never receive it, miss the deadline, and incur late fees before you realise. Always update within 28 days of moving.

2. Outdated Director Details

When a director resigns or is appointed, lodge a change notice with ASIC within 28 days. Do not wait for the annual review — if a change happened months ago and you have not reported it, you are already in breach and will face a late lodgement fee.

3. Missing the Payment Deadline

The annual review fee is due within two months of your review date. The $98 to $411 in late fees is entirely avoidable. Mark the date, set a reminder, or engage an agent.

4. Not Understanding Foreign Company Requirements

Foreign companies face a dual burden: the standard annual review plus the Form 406 annual return. Many are unaware of Form 406 until they receive a late fee notice. If you hold an ARBN, ensure your compliance calendar includes both obligations.

5. Letting Non-Compliance Accumulate

Some companies miss one annual review and assume the damage is done. In reality, late fees accumulate year after year. The longer you leave it, the more expensive reinstatement becomes. Engaging a professional ASIC corporate secretarial service prevents this from happening.

Frequently Asked Questions

What is the ASIC annual review fee for 2026?

For the 2025-26 financial year (1 July 2025 to 30 June 2026), the ASIC annual review fee is $329 for a proprietary limited company (Pty Ltd) and $1,528 for a public company. Special purpose companies pay $67 (proprietary) or $62 (public). Fees are indexed annually to CPI and may increase from 1 July 2026.

When is the ASIC annual review due?

Your ASIC annual review date is the anniversary of your company's registration. ASIC sends the annual statement approximately two weeks before this date. You then have two months from your review date to pay the fee, confirm your details, and (for proprietary companies) pass a solvency resolution.

What happens if I do not pay the ASIC annual review fee?

If you do not pay by the due date, ASIC automatically applies a late fee of $98 (if paid within one month of the due date) or $411 (if paid more than one month late). Continued non-payment can lead to ASIC commencing involuntary deregistration of your company, which means the company ceases to exist as a legal entity.

Do foreign companies registered in Australia need to complete an annual review?

Yes. Foreign companies holding an ARBN must complete the standard annual review and pay the annual review fee. In addition, they must lodge a Form 406 Annual Return each calendar year with a separate lodgement fee, maintain a local agent who is an Australian resident, and keep certified copies of their constitutional documents on file with ASIC.

Can I pay the ASIC annual review fee in advance?

Yes. ASIC allows you to pay up to 10 years in advance through the ASIC Connect portal, locking in the current fee rate ($3,290 for 10 years at $329/year). There is no discount, but you gain certainty and eliminate the risk of missed deadlines for the prepaid period.

Need Help With Your ASIC Annual Review?

The ASIC annual review is one of the most fundamental compliance obligations for any company registered in Australia. Missing it is avoidable, and the consequences — late fees, personal director liability, and potential deregistration — far outweigh the modest annual fee.

Australian Business Register provides complete ASIC corporate secretarial services, including annual review management, change notifications, registered office addresses, and resident director services for foreign companies. View our services and pricing for a full overview.

Request a quote to discuss your compliance needs, or call us on +61 2 8599 9890.