ASIC Company Compliance

Maintaining compliance with the Australian Securities and Investments Commission (ASIC) is a critical obligation for every company operating in Australia, including foreign companies registered under Part 5B.2 of the Corporations Act. Our comprehensive ASIC compliance services ensure your company meets all regulatory requirements, avoids costly penalties, and maintains good standing with Australian authorities. Whether you are an Australian proprietary company, a public company, or a foreign company with Australian operations, our expert team provides end-to-end compliance management tailored to your specific needs.

Understanding ASIC Regulatory Compliance

What is ASIC?

The Australian Securities and Investments Commission (ASIC) is Australia’s integrated corporate, markets, financial services, and consumer credit regulator. ASIC administers the Corporations Act 2001 and maintains the official register of all companies, business names, and registered foreign companies operating in Australia. Every company registered in Australia must comply with ASIC’s regulatory requirements, which include maintaining accurate records, lodging annual documents, and notifying changes to company details within prescribed timeframes.

Why Compliance Matters

ASIC compliance is not merely a bureaucratic requirement; it is fundamental to your company’s legal standing and operational integrity in Australia. Maintaining compliance demonstrates corporate governance excellence, builds trust with stakeholders, customers, and business partners, and ensures your company can continue to conduct business lawfully. For foreign companies, ASIC compliance is essential for maintaining your registration to carry on business in Australia, protecting your company’s reputation, and avoiding legal complications that could affect your global operations.

Consequences of Non-Compliance

Failure to comply with ASIC requirements can result in severe consequences, including financial penalties, late lodgement fees, and potential deregistration. ASIC has broad enforcement powers and actively pursues non-compliant companies. Penalties can accumulate quickly, with late fees applying to overdue annual reviews and additional penalties for failure to notify changes. In serious cases, directors may face personal liability, and foreign companies risk having their Australian registration cancelled, effectively prohibiting them from conducting business in Australia.

Annual Review and Lodgement Obligations

Annual Review Statement Process

Every Australian company must complete an annual review with ASIC. Approximately two weeks before your company’s review date (the anniversary of registration), ASIC sends an annual statement containing company details extracted from their records. Companies must review this information, pay the annual review fee, and either confirm the details are correct or notify ASIC of any changes. This process must be completed within two months of the review date to avoid late fees.

Solvency Resolutions

Directors of an Australian company must pass a solvency resolution within two months of the company’s annual review date, confirming the company can pay its debts as and when they fall due. The exception is companies that have lodged a financial report with ASIC under Chapter 2M of the Corporations Act within the previous 12 months. If the directors pass a negative resolution, or fail to pass one within the two-month window, the company must notify ASIC using Form 485 within seven days. We track this deadline alongside your annual review and prepare the resolution paperwork for your directors to sign.

Updating Company Details with ASIC

Companies are legally required to notify ASIC of changes to key company information within specified timeframes. This includes changes to registered office address (within 28 days), principal place of business (within 28 days), director and secretary appointments or resignations (within 28 days), share structure changes (within 28 days), and member details for proprietary companies (within 28 days of any change to the top 20 members). Failure to notify changes promptly can result in penalties and may affect the accuracy of ASIC’s public register.

Financial Reporting Thresholds

Large proprietary companies and all public companies must lodge annual financial reports with ASIC. A proprietary company is classified as large if it meets two of three criteria: consolidated revenue of $50 million or more, consolidated gross assets of $25 million or more, or 100 or more employees. Financial reports must be lodged within four months after the end of the financial year for public companies, or within four months for large proprietary companies. Our ASIC corporate secretarial services can assist with these complex reporting requirements.

Director Obligations Under the Corporations Act

Directors bear significant responsibility for ensuring their company remains compliant with ASIC requirements. This includes maintaining accurate company records, ensuring timely lodgement of documents, and fulfilling their duties of care, diligence, and good faith. Directors who fail to meet these obligations may face personal penalties and, in serious cases, may be disqualified from managing corporations.

Foreign Company Compliance (Part 5B.2)

Foreign companies registered to carry on business in Australia under Part 5B.2 of the Corporations Act face specific compliance obligations that differ from those of Australian-incorporated companies. Understanding and meeting these requirements is essential for maintaining your Australian registration.

Annual Return (Form 406) Lodgement

A registered foreign company that qualifies for financial reporting relief under ASIC Regulatory Guide 58 lodges an annual return (Form 406) with ASIC within one month after the date of its annual general meeting (or the date the AGM should have been held). The form requires current details of directors and local agents, the Australian registered office address, and confirmation of the company’s status in its place of origin. Unlike Australian companies that receive annual statements, foreign companies must proactively prepare and lodge their annual documents each year.

Financial Statement Lodgement Requirements

Foreign companies carrying on business in Australia are generally required to lodge copies of their financial statements with ASIC. These must be the accounts prepared under the law of the company’s place of origin. If the company’s home jurisdiction does not require audited accounts, the company may need to prepare accounts specifically for ASIC lodgement. The accounts must be lodged at least once each calendar year, with no more than 15 months between lodgements.

Change Notification Deadlines

Foreign companies must notify ASIC of numerous changes within strict timeframes. These include changes to the company name or legal status (within one month), changes to the company’s constitution or charter (within one month), appointment or cessation of local agents (within one month), changes to director details (within one month), changes to the Australian registered office (within seven days), and the opening or closing of the company in its place of origin (immediately upon becoming aware).

Local Agent Obligations

Every foreign company registered in Australia must appoint at least one local agent who is ordinarily resident in Australia. The local agent is responsible for ensuring the company complies with the Corporations Act and is personally liable for any penalties imposed on the company for non-compliance. This makes the selection of a reliable, knowledgeable local agent critical. Our local agent branch services provide comprehensive support for foreign companies requiring a local agent appointment.

Our ASIC Compliance Monitoring Services

We provide comprehensive ASIC compliance services designed to ensure your company meets all regulatory obligations efficiently and cost-effectively. Our experienced team handles every aspect of ASIC compliance, allowing you to focus on your core business operations.

Annual Review Management

Our annual review management service ensures your company never misses a review deadline. We monitor your review dates, verify the accuracy of ASIC records, prepare and lodge all necessary documents, and arrange payment of annual review fees on your behalf. For foreign companies, we prepare and lodge Form 406 annual returns and financial statements, ensuring all required information is accurate and complete.

Change Notifications

When changes occur within your company, we prepare and lodge the appropriate ASIC forms within required timeframes. This includes director and secretary changes, registered office and principal place of business changes, share structure alterations, and for foreign companies, changes to local agents and updates reflecting changes in the home jurisdiction.

Proactive Compliance Monitoring

Our proactive compliance monitoring service tracks your company’s ASIC obligations throughout the year. We maintain a comprehensive record of your compliance status, identify upcoming deadlines, and alert you to any potential compliance issues before they become problems. This continuous oversight ensures nothing falls through the cracks.

Automated Deadline Reminders

Missing ASIC deadlines can result in significant late fees and penalties. Our automated reminder system ensures you receive advance notice of all upcoming compliance deadlines, giving you ample time to gather necessary information and approve lodgements. We send reminders at 30 days, 14 days, and 7 days before each deadline.

Document Preparation and Lodgement

We handle all document preparation and lodgement with ASIC, ensuring forms are completed correctly and submitted on time. Our team has extensive experience with ASIC’s lodgement systems and requirements, minimising the risk of rejection or delays due to errors or omissions.

What ASIC Compliance Costs in 2026

Two costs are involved: the government fee you pay ASIC each year, and the professional fee for having every deadline managed for you. We never mark up government fees.

The ASIC annual review fee for a proprietary company is $342 from 1 July 2026 ($329 until 30 June 2026), paid directly to ASIC. Our service fees then depend on how much you want handled:

The ASIC-only tiers cover Corporations Act lodgements. They do not include tax returns or BAS; if you need those as well, the Ongoing Compliance service bundles them at a lower combined cost. Full details are on our services and pricing page.

Common ASIC Compliance Issues and Remediation

Late Lodgements

Late lodgement of annual reviews, annual returns, and change notifications is one of the most common compliance issues we see. ASIC charges a late fee per document: $102 if the document is up to one month late and $428 if it is more than one month late (rates from 1 July 2026; $98 and $411 until 30 June 2026). These fees stack quickly when several lodgements are overdue. Our proactive monitoring and reminder systems eliminate the risk of late lodgements.

Incorrect Information

ASIC’s register must accurately reflect your company’s current details. Incorrect information, whether due to data entry errors, outdated records, or misunderstanding of requirements, can cause compliance issues and may affect third parties who rely on the public register. We verify all information before lodgement and conduct regular audits of your ASIC records to ensure accuracy.

Failure to Notify Changes

Many companies, particularly foreign companies unfamiliar with Australian requirements, fail to notify ASIC of changes within required timeframes. This can result from not knowing what changes must be reported, misunderstanding timeframes, or simply overlooking obligations during busy periods. Our compliance team tracks your company’s details and prompts you when notifications may be required.

Remediation Services

For companies with existing compliance issues, we offer remediation services to bring your ASIC records up to date. This includes identifying and correcting errors in ASIC records, lodging overdue documents, liaising with ASIC regarding late fees and penalties, and implementing systems to prevent future compliance issues. If you are establishing a new Australian presence, our branch establishment services ensure your company starts with a solid compliance foundation.

ASIC Fees and Penalty Schedule

Annual Review Fees (2026-27)

ASIC charges annual review fees that vary based on company type. Current fees are:

• Proprietary company (small): $342 from 1 July 2026 ($329 until 30 June 2026)
• Public company (not listed): $1,591 from 1 July 2026 ($1,528 until 30 June 2026)
• Foreign company (registered under Part 5B.2): $1,583 from 1 July 2026 ($1,521 until 30 June 2026)

These fees are reviewed annually and may change. We monitor fee changes and ensure you are always aware of current costs.

Late Fees

Late lodgement fees apply per document when annual reviews, annual returns, or change notifications miss their deadline. They are charged on top of any standard lodgement fee.

An annual review fee that remains unpaid for 12 months can lead to ASIC-initiated deregistration, so timely lodgement is significantly more cost-effective than allowing deadlines to pass.

Penalty Notices

ASIC may issue penalty notices for various compliance failures, including failure to lodge documents, providing false or misleading information, and failure to notify changes within required timeframes. Court-imposed penalties are calculated in Commonwealth penalty units, currently $330 per unit, and can be substantial, and repeat offenders may face escalating consequences. Directors may also face personal liability for company compliance failures.

Compliance Calendar for Foreign Companies

Key Annual Obligations

Foreign companies registered in Australia must complete several annual compliance tasks:

• Annual Return (Form 406): Due within one month after the AGM, where the company qualifies for financial reporting relief
• Financial Statements: Lodged at least once each calendar year, no more than 15 months apart
• Local Agent Confirmation: Verified as part of annual return
• Registered Office Confirmation: Verified as part of annual return

Critical Deadlines at a Glance

Meeting ASIC deadlines is essential for avoiding late fees and maintaining compliance. Key timeframes at a glance:

What We Handle on Your Behalf

Our comprehensive compliance management service covers all aspects of your ASIC obligations. We track all deadlines, prepare all required documents, coordinate with you to verify information, lodge all forms with ASIC, arrange payment of fees, maintain compliance records, and provide ongoing compliance advice. You receive regular compliance status reports and can access your compliance information at any time through our client portal.

Frequently Asked Questions

What happens if my company misses an ASIC deadline?

Missing an ASIC deadline typically results in late fees being applied to your account. The amount varies depending on the type of lodgement and how late it is. Continued non-compliance can result in penalty notices, and in serious cases, ASIC may take enforcement action. If you have missed a deadline, contact us immediately so we can assist with lodging overdue documents and minimising penalties.

How often must a foreign company lodge documents with ASIC?

Foreign companies must lodge financial statements with ASIC at least once each calendar year, with no more than 15 months between lodgements. Companies relying on financial reporting relief lodge a Form 406 annual return within one month after their AGM instead. Throughout the year, changes to company details must be notified within prescribed timeframes, typically one month for most changes and seven days for registered office changes.

What is a local agent and why do foreign companies need one?

A local agent is an individual ordinarily resident in Australia who is appointed to represent a foreign company registered under Part 5B.2. The local agent is responsible for ensuring the company complies with the Corporations Act and can be held personally liable for penalties arising from non-compliance. Every foreign company must have at least one local agent at all times.

Can ASIC deregister my foreign company for non-compliance?

Yes, ASIC has the power to deregister foreign companies that fail to meet their compliance obligations. This typically occurs after repeated failures to lodge annual returns or respond to ASIC communications. Deregistration means the foreign company can no longer legally carry on business in Australia. Reinstatement is possible but involves additional fees and requirements.

What information must be included in a foreign company’s annual return?

Form 406 requires comprehensive information including the company’s current name and legal status, names and details of all directors, names and addresses of all local agents, the Australian registered office address, and confirmation that the company is still registered in its place of origin. Any changes from the previous year must be accurately reported.

How do I update my company’s registered office address with ASIC?

Changes to a foreign company’s Australian registered office must be notified to ASIC within seven days using the appropriate form. The registered office must be a physical address in Australia where documents can be served and is open to the public during certain hours. We can assist with preparing and lodging the change notification.

What financial reporting obligations apply to foreign companies?

Foreign companies must generally lodge copies of the financial statements they are required to prepare in their place of origin. If the home jurisdiction does not require audited financial statements, the foreign company may need to prepare statements specifically for ASIC. Statements must be lodged at least once each calendar year, with no more than 15 months between lodgements.

How can I check my company’s current ASIC compliance status?

You can search ASIC’s public register to view basic information about your company’s registration status. However, this does not show pending compliance issues or approaching deadlines. Our clients receive comprehensive compliance status reports and have access to a client portal showing all obligations, deadlines, and lodgement history. Contact us to arrange a compliance review of your company’s current status.

Does ASIC issue compliance certifications?

No. ASIC does not issue “compliance certificates” or compliance certifications. ASIC issues a certificate of registration when a company is first registered, and anyone can purchase a current company extract showing registration status and lodgement history. Emails or websites offering an “ASIC compliance certificate” for a fee are typically scams; ASIC has published warnings about fake certificates and endorsements. If you need to demonstrate good standing to a bank or counterparty, a current ASIC company extract is the accepted document.

How much do ASIC compliance services cost?

The government charges a $342 annual review fee for a proprietary company from 1 July 2026 ($329 until 30 June 2026). On top of that, our registered agent service starts at From $250/yr (domestic companies) for Australian companies, ASIC compliance management for foreign-owned companies starts at From $720/yr, and full ongoing compliance covering ASIC, tax returns, BAS, and bookkeeping starts at From $2,500/yr.

What is included in an ASIC compliance package?

Our ASIC compliance packages include annual review management, solvency resolution preparation, all change notifications (directors, addresses, shares), deadline monitoring with reminders at 30, 14, and 7 days, ASIC correspondence handling, and statutory register maintenance. For foreign companies we also prepare Form 406 annual returns and manage financial statement lodgement. Tax returns and BAS are available through our Ongoing Compliance service.

Ensure Your ASIC Compliance Today

Do not let ASIC compliance issues disrupt your Australian business operations. Our experienced team provides comprehensive compliance services for foreign companies registered under Part 5B.2 and Australian companies of all types. Contact us today for a free compliance consultation and discover how we can help you maintain perfect compliance with all ASIC requirements.

Call us: +61 2 8599 9890 | Email: [email protected]

Related Services

Foreign companies often combine this service with:

• ASIC Corporate Secretarial – Company secretary appointments and statutory administration
• Taxation Services – Australian tax compliance, BAS preparation, and annual returns
• Resident Director Services – Professional nominee directors to meet ASIC residency requirements
• Registered Office Address – ASIC-compliant registered office in major Australian cities
• Ongoing Compliance Services – ASIC, tax returns, BAS, and bookkeeping managed under one engagement