• Written by: James Carey, CA CTA
• 30/01/2026

ASIC Late Lodgement Penalties 2026 | Fees Guide

Missing an ASIC deadline is easier than most foreign company directors realise. A change of local agent that goes unreported for 29 days. An annual review payment that slips through the cracks while head office is focused on other markets. A financial statement lodgement that gets delayed by the time difference between Sydney and your home jurisdiction. In each case, ASIC does not wait for an explanation before applying penalties.

ASIC operates a straightforward two-tier late fee system. Documents lodged up to one month late attract a $98 fee. Documents lodged more than one month late attract a $411 fee. These amounts apply per document, and they add up quickly when multiple lodgements are overdue. For foreign companies managing Australian compliance from overseas, understanding the penalty framework — and knowing how to avoid or resolve penalties — is essential.

This guide explains exactly what ASIC charges for late lodgements in 2025-26, how penalties escalate, what options exist for fee relief, and the practical steps to restore compliance if you have fallen behind.

Table of Contents

• How ASIC Penalties Work
• ASIC Late Fee Schedule 2025-26
• What Triggers Late Fees
• How Late Fees Compound
• Court-Imposed Penalties for Serious Non-Compliance
• Consequences Beyond Financial Penalties
• How to Apply for an ASIC Fee Waiver
• Restoring Compliance After Falling Behind
• Preventing Late Lodgements
• Frequently Asked Questions

How ASIC Penalties Work

ASIC applies penalties for late lodgement of documents under the Corporations Act 2001. The penalty system operates on two levels:

1. Administrative late fees. These are fixed fees that ASIC applies automatically when a document is lodged after its due date. No court proceedings are required — the fee is simply added to your account. These are the most common penalties and the ones most foreign companies encounter.

2. Court-imposed penalties. For serious, repeated, or wilful non-compliance, ASIC can pursue penalty proceedings through the courts. Court-imposed penalties are significantly higher and can include personal liability for directors and officers.

The administrative late fee system is designed to encourage timely compliance rather than punish businesses. Once you lodge the document and pay the outstanding fee, no further administrative penalties accrue for that specific lodgement.

For foreign companies registered under Part 5B.2 of the Corporations Act, the same penalty framework applies as for locally incorporated companies. Your ARBN (Australian Registered Body Number) registration carries the same lodgement obligations and the same consequences for non-compliance. Our ASIC compliance guide for foreign companies provides a full overview of your ongoing obligations.

ASIC Late Fee Schedule 2025-26

ASIC operates a two-tier late fee system. The amounts are set by Schedule 2, Item 14 and Schedule 3, Part 3 of the Corporations (Fees) Regulations 2001 and are indexed annually by CPI from 1 July.

Amounts effective from 1 July 2025. Previous year (2024-25): $93 and $387.

Key points:

• The late fee is a single charge based on how late the document is when finally lodged. You pay only the applicable tier — they are not cumulative.
• Late fees apply per document. If you have three overdue lodgements, each one attracts its own late fee.
• ASIC applies the fee automatically when the document is processed. You will receive an invoice or the amount will appear on your ASIC account.
• Late fees are not tax deductible. Unlike most business expenses, ASIC penalty fees cannot be claimed as a deduction for income tax purposes.
• Many forms (including Form 484) have no lodgement fee themselves — but late lodgement still triggers the late fee.

What Triggers Late Fees

Different ASIC lodgements carry different deadlines. The following table summarises the most common obligations for foreign companies.

Annual Review Fees (2025-26)

For foreign companies, the most common late lodgements are:

1. Annual review fee — easily missed when managed from overseas, especially if ASIC correspondence goes to an outdated registered office address.
2. Change of local agent — foreign companies must appoint an Australian resident as their local agent. When this person changes, ASIC must be notified within 28 days.
3. Change of directors — changes to the directors of the foreign parent company must also be notified to ASIC, which many companies overlook because the change occurred overseas.

How Late Fees Compound

While the late fee for a single document is capped at $411, the real cost of non-compliance compounds when multiple documents are overdue simultaneously.

Scenario: A Foreign Company Falls Behind

Consider a foreign company registered in Australia that lets compliance slip for 8 months:

Add the annual review fee itself ($1,528 for foreign companies) and any outstanding filing fees, and the total cost of inattention can easily exceed $3,500 — before any court proceedings are considered.

The Deregistration Risk

If a foreign company fails to pay its annual review fee for a sustained period (typically 12+ months), ASIC can initiate deregistration under section 601AB(1A) of the Corporations Act. ASIC sends notice to the company and directors, then publishes in the Gazette. After 2 months from the Gazette notice, ASIC may deregister the company.

Deregistration means the company loses its legal authority to carry on business in Australia. The company's ABN may be cancelled, and reregistration requires starting from scratch — including new ASIC registration fees and a new ARBN.

Court-Imposed Penalties for Serious Non-Compliance

Beyond administrative late fees, ASIC can prosecute companies and their officers for failure to comply with the Corporations Act. Court-imposed penalties are reserved for serious matters but can involve personal liability for directors and the local agent.

The value of a Commonwealth penalty unit in 2025-26 is $330. Maximum penalties represent the upper bound; actual penalties imposed by courts depend on the circumstances.

For foreign companies, the local agent appointed under Part 5B.2 has personal obligations and can face personal penalties for the company's failure to comply. This is why professional local agent services typically include compliance monitoring.

When Does ASIC Pursue Court Action?

ASIC generally reserves court action for:

• Companies with a pattern of repeated non-compliance over multiple years
• Deliberate failure to lodge documents despite ASIC reminders
• Lodgement of false or misleading information
• Situations where creditors or stakeholders have been harmed
• Companies that continue to trade after deregistration

For a first-time late lodgement, administrative fees are the standard consequence.

Consequences Beyond Financial Penalties

Loss of Good Standing

ASIC's public register shows the compliance history of every registered company. Outstanding lodgements appear on your company extract, visible to anyone who searches your ARBN. Australian banks, customers, and potential partners frequently check ASIC records during due diligence.

Impact on Banking and Finance

Australian banks review ASIC compliance as part of ongoing account monitoring. Persistent non-compliance can trigger enhanced due diligence reviews, restrictions on banking facilities, or account closure. See our banking support services for more on banking requirements.

Director and Officer Liability

Under the Corporations Act, the officers of a registered foreign company (including the local agent and directors named on the ASIC register) have personal obligations to ensure compliance. Persistent failure can expose individuals to personal penalties and disqualification from managing corporations in Australia.

GST and Tax Complications

If ASIC deregisters your foreign company, the ATO may cancel your ABN and GST registration. This creates immediate problems for invoicing, GST credits, and tax reporting. Our ABN and GST registration service can assist with reinstatement.

How to Apply for an ASIC Fee Waiver

ASIC will only consider waiving a late fee if circumstances were beyond the control of the applicant and any representatives involved.

Acceptable Grounds

• ASIC's own processing caused the delay
• Court proceedings delayed document issuance
• Cybersecurity breach disrupted business operations
• Emergency or natural disaster prevented access to records
• Serious illness or death of key personnel

NOT Acceptable Grounds

• Representative, accountant, or agent failed to lodge on time
• Financial inability to pay
• Failure to receive the annual statement
• Being unaware of the obligation
• Being located overseas and finding compliance difficult

How to Apply

1. Pay the underlying fee first (e.g., the annual review fee). Do NOT pay the late fee you are disputing.
2. Submit a fee waiver application online — phone requests are not accepted.
3. Provide supporting documentation (medical certificates, system error evidence, etc.).
4. Wait for ASIC's decision — typically within 28 days via written correspondence.

Foreign companies should not assume that operating from overseas is grounds for leniency. ASIC expects foreign companies to have systems in place — whether through their local agent, an ASIC compliance service, or internal processes — to meet the same deadlines as domestic companies.

Restoring Compliance After Falling Behind

If your foreign company has multiple overdue lodgements, resolve everything at once rather than piecemeal.

Step 1: Audit Your Compliance Status

Order a current company extract from ASIC (available online for $9) to see exactly what documents are outstanding and what details are on the register.

Step 2: Prepare All Outstanding Documents

Gather information for every overdue lodgement:

• Current directors and secretary details (of the parent company)
• Current local agent details and consent
• Current registered office address in Australia
• Financial statements (if applicable)
• Any changes that occurred but were not reported

Step 3: Lodge Everything Simultaneously

Submit all overdue documents and pay all outstanding fees (including late fees) at once. This prevents further late fees from accruing and demonstrates genuine effort to restore compliance.

Step 4: Apply for Fee Relief (If Applicable)

If grounds for fee relief exist, submit your application after lodging. Having already restored full compliance strengthens your application.

Step 5: Implement a Compliance System

Appoint a professional ASIC registered agent or local agent who monitors deadlines and handles lodgements on your behalf. The annual cost of a compliance service is far less than accumulated late fees.

Preventing Late Lodgements

Prevention is significantly cheaper than remediation. Foreign companies should implement this minimum compliance framework:

Australian Business Register provides comprehensive ASIC compliance services designed for foreign companies, including deadline monitoring, document preparation, and lodgement on your behalf. Combined with our local agent services, this provides a complete compliance safety net.

Frequently Asked Questions

How much does ASIC charge for a late annual review?

ASIC adds a late fee on top of the annual review fee. The late fee is $98 if paid within 1 month of the due date, or $411 if paid more than 1 month late. So a Pty Ltd paying its annual review 2 months late would pay $329 (annual review fee) + $411 (late fee) = $740 in total. A registered foreign company would pay $1,528 + $411 = $1,939.

Can ASIC deregister my foreign company for late lodgements?

Yes. If a foreign company fails to pay its annual review fee or respond to ASIC notices over a sustained period, ASIC can initiate involuntary deregistration under section 601AB of the Corporations Act. ASIC typically sends multiple notices before proceeding, giving the company opportunity to rectify. Once deregistration takes effect, the company loses its legal authority to carry on business in Australia.

Are ASIC late fees tax deductible in Australia?

No. ASIC late lodgement fees (penalties) are not deductible for income tax purposes under Australian tax law. This is consistent with the general principle that penalties imposed by government regulators are not allowable deductions. The standard annual review fee and lodgement fees, however, are deductible as ordinary business expenses.

What happens to our local agent if we fail to lodge?

The local agent of a foreign company registered under Part 5B.2 has personal obligations to ensure certain lodgements are made. A local agent who knowingly allows non-compliance may face personal penalties of up to 30 penalty units ($9,390). In practice, professional local agents will typically resign if the foreign company persistently ignores compliance obligations, creating an additional notification requirement.

Can I reinstate a foreign company after ASIC deregistration?

In some cases, you may apply for reinstatement under section 601AH of the Corporations Act, which requires a court order. This is costly and time-consuming. In many cases, it is simpler to submit a new registration application, obtaining a new ARBN and potentially needing to re-establish your ABN, GST registration, and business banking. Prevention through proper compliance management is always the better approach.

This guide provides general information about ASIC penalties and late fees for the 2025-26 financial year. Late fee amounts are set by the Corporations (Fees) Regulations 2001 and indexed annually by CPI from 1 July. The value of a Commonwealth penalty unit is $330 for 2025-26. Sources: ASIC Late Fees, ASIC Fee Schedules. For specific compliance advice, consult a qualified Australian corporate adviser.

Last updated: March 2026