What happens if you don’t pay the ASIC annual review fee?
Every company registered with ASIC has a review date, the anniversary of its registration. ASIC issues the annual statement shortly after that date, setting out the company’s current details on the register together with an invoice for the annual review fee. For a proprietary company the fee is $342 for 2026–27; a company that qualifies as a special purpose company pays $70. Payment is generally due two months after the review date, not on the review date itself. ASIC indexes these fees each 1 July.
If the fee is not paid by the due date, ASIC charges a late fee: $102 where payment is up to one month late, rising to $428 where it is more than one month late. There is no grace period and the fee is applied automatically. If the review fee remains unpaid at least 12 months after the due date, ASIC may begin deregistration under section 601AB. It writes to the company and its directors, then publishes a notice on the ASIC Published Notices website, and can deregister the company once two months have passed since that notice.
Deregistration has serious consequences. Once a company is deregistered, it ceases to exist as a legal entity. Its property vests in ASIC, except property it held on trust, which vests in the Commonwealth. The company can no longer enforce its contracts or be sued in its own name, although its debts are not extinguished and can revive if it is reinstated. Directors may lose the ability to use the company name. Reinstating a deregistered company requires either an application to ASIC under section 601AH(1), with payment of all outstanding fees, or, where ASIC will not reinstate, a court application under section 601AH(2), which is expensive and slow.
Beyond the immediate fees and deregistration risk, failure to maintain ASIC compliance can trigger personal liability for directors. Under section 588G of the Corporations Act, directors have a duty to prevent the company incurring debts while it is insolvent. Unpaid ASIC fees can be an early sign of cash flow stress, and the annual solvency resolution is the point at which directors must form a view on solvency.
CoSec Partners manages annual review fees and ASIC compliance for hundreds of companies. When we act as ASIC registered agent, we monitor every annual statement, invoice the client or their accountant for the review fee, and ensure payment is made before the due date.
Frequently asked questions
When is the ASIC annual review fee actually due?
Two months after the company’s annual review date, which is generally the anniversary of registration. The annual statement arrives shortly after the review date, so the invoice and the deadline are not the same day. Diarising the review date alone is the most common reason a payment is missed.
What happens if the ASIC annual review fee is not paid?
ASIC applies a late fee automatically, at a higher tier once payment is more than one month overdue, with no grace period. If the review fee remains unpaid at least 12 months after the due date, ASIC may begin deregistration under section 601AB. It writes to the company and its directors, then publishes a notice on the ASIC Published Notices website, and can deregister the company once two months have passed since that notice.
Can a deregistered company be brought back?
Yes, but not cheaply. Reinstatement requires either an application to ASIC under section 601AH(1), with payment of all outstanding fees, or, where ASIC will not reinstate, a court application under section 601AH(2). A court application typically costs several thousand dollars in legal and filing costs, which is why prevention is materially cheaper than cure.
Does a dormant company still have to pay the annual review fee?
Yes. The obligation attaches to registration, not to trading activity. A dormant company must pay the review fee, keep its details current, and pass a solvency resolution where required. Dormant entities are over-represented in ASIC deregistration action precisely because nobody is watching them.
This article is general information only and does not constitute legal, financial, or tax advice. While we endeavour to keep content accurate and current, laws and regulations change frequently. For advice specific to your circumstances, please consult a qualified professional adviser. CoSec Partners Pty Ltd accepts no liability for actions taken based on this content.