Business Structures & Setup
ASIC Annual Compliance
Every registered company has ongoing obligations to ASIC — annual review fees, solvency declarations, and keeping company details current. Missing these obligations results in late fees, deregistration risk, and potential director penalties. PHC & Associates manages all ASIC annual compliance so nothing slips through the cracks.
1000+
Companies Managed
CPA
Certified
ASIC
Registered Agent
What's Included
Everything Covered in This Service
Annual ASIC review fee payment management
Solvency resolution — signed by directors within 2 months of review date
Annual company statement review and confirmation
Updating officeholder details — new directors, resignations, address changes
Registered office and principal place of business updates
Share register maintenance and share transfer lodgements
Late fee management and ASIC penalty remission requests
Company deregistration (voluntary) when no longer required
Key Concepts
What You Need to Know
Understanding the essentials helps you make better decisions and ask the right questions.
The ASIC Annual Review
Each year on the anniversary of company registration, ASIC issues an annual review notice. This includes the annual fee invoice and a statement of company details. Directors must review the statement, pay the fee, and pass a solvency resolution within 2 months.
What Is a Solvency Resolution
Directors must pass a resolution confirming the company is solvent — that it can pay its debts as and when they fall due. This must be documented in the company's minute book. Failure to pass the resolution is an offence.
ASIC Late Payment Fees
ASIC imposes late payment fees on overdue annual review fees — currently $82 for payments up to 1 month late, and $341 for payments more than 1 month late. These fees cannot be avoided once the deadline passes.
Keeping Details Current
Any change to directors, secretaries, registered office, or share structure must be notified to ASIC within 28 days. Failure to update ASIC is an offence under the Corporations Act and can result in fines.
Why It Matters
Why This Matters for Your Business
The decisions you make at setup have long-lasting consequences — financially, legally, and operationally.
Late ASIC Fees Are Unavoidable Once Triggered
ASIC late fees apply automatically and cannot be waived unless there are exceptional circumstances. The fee for missing by more than a month is over four times the cost of the review fee itself.
Deregistration Happens Without Warning
If annual fees are not paid, ASIC will deregister the company — cancelling its ABN, closing its bank accounts, and vesting its assets in ASIC. Reinstating a deregistered company is expensive and time-consuming.
Director Liability Doesn't End with the Company
Directors who allow a company to be deregistered while it has debts may face personal liability. Proper compliance management protects directors as much as the company.
Stale ASIC Records Create Problems
Inaccurate officeholder records cause problems with banks, lenders, and counterparties who conduct ASIC searches. Keeping records current is basic corporate governance.
Solvency Resolutions Are Evidence of Good Governance
Regular, documented solvency resolutions demonstrate that directors are actively monitoring the company's financial position — important evidence in any future insolvency dispute.