What Is an ASIC Annual Review? Company Compliance and Deadlines
Book a Free DemoASIC Annual Review
The ASIC Annual Review is a mandatory yearly check-in for every company registered with the Australian Securities and Investments Commission (ASIC). It’s part of maintaining your company’s legal status and…
The ASIC Annual Review is a mandatory yearly check-in for every company registered with the Australian Securities and Investments Commission (ASIC).
It’s part of maintaining your company’s legal status and includes reviewing your company’s details, paying the annual review fee, and confirming you’re still solvent. Failing to complete it can result in late fees or deregistration.
What the Annual Review Includes
Each year on your review date (anniversary of registration), ASIC sends an Annual Statement that includes:
- Company name and ACN
- Registered office address
- Director and shareholder details
- Share structure
- Annual review invoice
Your Responsibilities
| Task | Deadline |
|---|---|
| Review and confirm company details | Within 28 days |
| Pay the annual fee | Within 28 days |
| Lodge any company changes | Within 28 days |
| Pass a solvency resolution | Within 2 months |
Annual Review Fee (2024–25)
- Proprietary company: $310
- Special purpose company: $63
- Late fees:
- $93 if late by 1–28 days
- $387 if more than 28 days late
Consequences of Missing the Review
- Late payment fees
- Loss of good standing with ASIC
- Risk of automatic deregistration
- Difficulty obtaining finance or insurance
ASIC Annual Review vs Tax Return vs BAS
| Feature | ASIC Annual Review | Income Tax Return | BAS |
|---|---|---|---|
| Authority | ASIC | ATO | ATO |
| Purpose | Legal compliance | Tax assessment | GST & PAYG reporting |
| Applies to | All registered companies | Businesses with income | GST/PAYG registered entities |
How Ozobooks Helps
- Tracks your review date and deadlines
- Reviews your Annual Statement for accuracy
- Lodges updates to ASIC on your behalf
- Ensures solvency resolutions are completed
- Prevents late fees and non-compliance
FAQ
Q1: Is the ASIC Annual Review optional?
No. It’s a legal requirement for all Australian companies — regardless of whether they are trading.
Q2: Do I have to lodge the Annual Statement?
No formal lodgement is required if there are no changes, but you must review and confirm details internally.
Q3: Can I do the review myself?
Yes, but many businesses use ASIC agents (like Ozobooks) to handle it efficiently and avoid errors.
Q4: What’s the difference between this and the annual return?
They’re now part of the same process — the ASIC Annual Review replaced the old “annual return” form.