What Is Business Name Renewal? How to Keep Your Name Registered with ASIC
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Business name renewal is the process of maintaining legal ownership of your business name with ASIC (Australian Securities and Investments Commission). If you operate under a name that’s not your…
Business name renewal is the process of maintaining legal ownership of your business name with ASIC (Australian Securities and Investments Commission).
If you operate under a name that’s not your own, you must register and renew it periodically. Failing to renew means your name can be cancelled and taken by someone else.
When to Renew Your Business Name
- You can choose to renew for 1 year or 3 years when you first register
- ASIC sends email reminders before the renewal date
- Renewal is due on or before the expiry date
If you don’t renew on time, ASIC will:
- Mark your business name as pending cancellation
- Cancel it after a grace period (usually 2 months)
Business Name Renewal Fees (2024–25)
| Renewal Period | Fee (AUD) |
|---|---|
| 1 year | $42 |
| 3 years | $98 |
These fees are non-refundable, even if you don’t use the business name.
How to Renew Your Business Name
- Log in to ASIC Connect
- Select your business name
- Choose renewal period (1 or 3 years)
- Pay the renewal fee
- Download confirmation and keep for your records
Note: If your contact details with ASIC are out of date, you may miss the reminder and lose your name.
What Happens If You Miss Renewal?
| Timeline After Expiry | Outcome |
|---|---|
| 0–28 days late | Still renewable (late) |
| 28+ days late | Marked for cancellation |
| After cancellation | Anyone can register your old name |
Once cancelled, you’ll need to apply to re-register, which isn’t guaranteed — especially if someone else claims it first.
How Ozobooks Helps
- Tracks your business name expiry date
- Renews your name automatically when due
- Updates your ASIC contact details to prevent missed notices
- Helps you manage multiple names if you operate under different brands
FAQ
Q1: Is renewing my business name the same as renewing my ABN?
No. Your ABN and business name are separate — each has its own renewal process.
Q2: Do I need a business name if I trade under my own name?
Not necessarily. If you’re using your full personal name, you may not need to register.
Q3: Can I change my business name during renewal?
No — you can only renew the existing name. To use a new name, you must register it separately.
Q4: What if I don’t want to use the name anymore?
You can let it lapse — or cancel it manually via ASIC if you want to stop receiving reminders.