ASIC annual review 2026: fees, process, and deadlines

Every company registered with ASIC must complete an annual review. The process is straightforward but the consequences of getting it wrong are not. ASIC sends the company an annual statement around the anniversary of its registration date. The statement lists the company’s current details on the ASIC register (officeholders, addresses, share structure) and includes an invoice for the annual review fee.

For 2026–27 the annual review fee is $342 for a proprietary company, $1,591 for a public company, and $70 for a special purpose company that is a proprietary company, which is the category SMSF corporate trustees fall into. A special purpose company that is not a proprietary company pays $65, and a registered scheme pays $1,591. A registered foreign company is a different case again: it does not pay an annual review fee at all. Instead it lodges its financial statements with ASIC each calendar year under cover of a Form 405 or, if it qualifies for ASIC relief as a small foreign company, an annual return on Form 406. Either form carries a fee of $1,583 for 2026–27. That distinction is worth holding onto, because secondary sources routinely report the Form 406 fee as a foreign company ‘annual review fee’ and the two figures are not the same. These fees are indexed each 1 July in line with CPI and GST does not apply to them. Late fees are additional and are discussed below.

The company has 28 days from the annual statement’s issue date to correct any details that are wrong, and two months from the review date to pass a solvency resolution and pay the review fee. First, check the details on the annual statement and update anything that has changed (director appointments, resignations, address changes, share structure) by lodging the relevant change forms with ASIC within 28 days of the statement issue date, otherwise a late review fee applies in addition to any late lodgement fee. Second, pass a solvency resolution: the directors must formally resolve that the company is able to pay its debts as and when they fall due. This resolution does not need to be lodged with ASIC but must be recorded in the company’s minute book. If the directors pass a negative solvency resolution, or do not pass a resolution within the two months, the company must lodge a Form 485 with ASIC within 7 days, and the directors should take urgent advice on whether to appoint an administrator or liquidator. Companies that have lodged a financial report with ASIC in the previous 12 months are exempt from the solvency resolution requirement. Third, pay the annual review fee.

The solvency resolution is the obligation that causes the most issues in practice. Directors must pass the resolution within two months of the review date, or within two months of the company’s anniversary if no review date has been set. If the directors are unable to resolve that the company is solvent, the company must notify ASIC on Form 485 within 7 days, and the directors should take urgent advice on appointing an administrator or liquidator. For dormant entities that have no trading activity, the resolution is usually straightforward, but it still needs to be formally passed and minuted. Many firms miss this requirement because there is no lodgement to trigger a reminder.

If the review fee is not paid within two months, ASIC will impose a late fee: $102 for up to one month overdue, or $428 for more than one month overdue. These are per-entity fees that apply in addition to the underlying annual review fee. For a firm managing 50 entities, a single missed batch of annual reviews left more than a month overdue runs to $21,400 in late fees alone. Continued non-payment beyond 12 months can lead to ASIC commencing deregistration proceedings under section 601AB of the Corporations Act.

A company that is deregistered ceases to exist as a legal entity. Its property vests in ASIC under section 601AD, outstanding debts and liabilities continue to exist but the company cannot be sued or enforce contracts, and reinstating it requires either an application to ASIC under section 601AH(1), with payment of all outstanding fees and the reinstatement fee, or, where ASIC will not reinstate, a court application under section 601AH(2), which typically costs several thousand dollars in legal and filing costs.

For accounting firms managing multiple clients, the annual review process is one of the most time-consuming compliance obligations. Each client has a different review date, different details to check, and different directors to chase for solvency resolutions. The administrative burden is compounded by the fact that ASIC does not send reminders to the company’s accountant. Correspondence goes to the company’s registered office or to the appointed registered agent.

This is precisely why many firms outsource ASIC compliance to a registered agent. A registered agent receives all ASIC correspondence electronically, tracks every deadline, and ensures each obligation is met before it becomes overdue. At CoSec Partners, our registered agent service starts from $99 per entity per year including GST for firms with 20 or more entities. It covers arranging payment of the annual review fee (the ASIC fee itself is charged separately), solvency resolution preparation, and change notifications, with every deadline tracked and actioned before it falls due.

If you are currently managing ASIC compliance internally and would like to understand the cost and process of outsourcing, we offer a free ASIC compliance health check. We review your client book, identify any overdue obligations, and provide a report within 48 hours at no charge.