Running a company - Annual statements

Each year we send your company or scheme an annual statement shortly after the annual review date, (which in most cases is the date you registered the company or scheme).

Find out where we send your company's annual statement.

To keep your company registered, you must complete the following steps.

Step 1: Pay your annual company review fee

To keep your company or scheme registered, you must pay the total amount on the invoice by the due date.

If you have paid your annual review fees in advance, the amount shown on the invoice will be 'Nil'.

Late payment fee

Late fees apply if you don't pay your annual review fee on time:

  • Payment up to one month late - $76
  • Payment more than one month late - $316

Step 2: Check and update your company details

Check the details on your company or scheme statement carefully. If any details are incorrect, you can change your company details online, by lodging a Change to company details (Form 484). This includes changes to your addresses, share structure, officeholders and members.

You will need your corporate key to make changes online. You can find your corporate key on your most recent annual statement. 

If you are a Responsible Entity for a registered scheme you must notify us of any changes to the scheme by a Change to scheme details (Form 491).

Late review fee

You must lodge changes with us within 28 days of the annual statement issue date, or a further late fee will apply.

  • Changes to annual statement notified up to one month late - $76
  • Changes to annual statement notified more than one month late - $316

Late lodgement fee

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.

  • Change of details lodged up to one month after a change occurred - $76
  • Change of details lodged more than one month after a change occurred - $316

A company may be charged both a late lodgement fee and a late review fee

Step 3: Pass a 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.

Your solvency resolution may be a:

  • Positive solvency resolution - passed when directors are certain the company can pay its debts when they are due.
  • Negative solvency resolution - passed when directors believe the company cannot pay its debts when they are due.

Guide on what directors must do

Solvency resolutionWhat you must doMust be lodged with
Directors pass a negative solvency resolution Lodge a Statement in relation to company solvency (Form 485) Seven days after the resolution is passed
Directors pass a positive resolution You don't have to notify us but the resolution must be stored.  

If you have not received your annual statement within a week of your review date, contact us online.

If you no longer need your company, you should consider deregistering it. Otherwise you'll still be charged the annual review fee and you'll still need to meet your officeholder obligations. 

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    Last updated: 07/04/2017 12:04