ASIC company annual review: fees and director checklist

Your ASIC annual review usually falls around the anniversary of the company's registration. The work is to check the annual statement, pay the review fee and complete the applicable solvency requirement. Paying the invoice alone doesn't finish the review.

For an ordinary proprietary company, the annual review fee is $342 from 1 July 2026. ASIC lists other rates for special purpose companies and other company classes in its current fee schedule. Check the classification and amount on your invoice rather than copying another company's payment.

Set up a review folder

Create one folder for the review year with the annual statement, invoice, payment evidence, any updates and the directors' records. If an accountant or registered agent receives ASIC correspondence for you, ask when they will send it on and which tasks their fee covers.

Keep four dates visible: the review date, payment due date, applicable deadline for correcting details, and solvency resolution deadline. These aren't all interchangeable. Follow the actual statement and ASIC's instructions if there is a discrepancy.

This is also a good time to check who receives official correspondence. A reminder going to a former employee is an administrative problem worth fixing before the next notice arrives.

Check the statement against your own records

Read the statement rather than treating it as a cover page for the invoice. Compare the company details with your register and recent changes involving officeholders, addresses, shares and members.

ASIC's annual review instructions explain the payment, update and solvency obligations. Company details generally need updating within 28 days of a change; waiting for the annual review can already be too late. The review also has a separate deadline for correcting information in the statement.

Use a review log:

Item	Result	Next action
Company and registration details	Match, or explain discrepancy	Confirm which record needs correction
Contact and address details	Current or out of date	Allocate the update
Officeholder and ownership details	Checked against company records	Investigate any mismatch
Previous changes	Submitted and confirmed, or outstanding	Locate the receipt or contact the agent

Don't assume an email to your accountant updates ASIC automatically. Ask for confirmation that the relevant notification was lodged.

Pay the right invoice once

The annual review payment is generally due within two months of the review date. Use the due date and payment reference on the company's statement, and keep proof of payment.

If you receive both an ASIC invoice and an agent's invoice, ask what each covers. The agent may charge for handling the review in addition to the government fee, or may already include the government fee in their bill. Avoid paying the same liability twice because two documents arrived.

Include the review in your ongoing budget. Our company cost guide explains why registration is only the first cost of operating a company.

Assess solvency using current information

Directors need evidence for their view about whether the company can pay debts when they fall due. A positive bank balance by itself doesn't show the timing of all commitments.

Prepare information that helps the directors ask sensible questions: available cash, amounts owed by customers, supplier and loan payments, tax obligations and other commitments. Identify assumptions separately from confirmed amounts.

For example, suppose a hypothetical company expects a large customer payment shortly after a substantial supplier bill falls due. The directors need to consider that timing gap. Recording the customer invoice as income doesn't put the money in the bank before the bill needs paying.

Our cash flow forecast guide can help organise the timing. A forecast is an input to the decision, not a substitute for the directors' assessment or professional advice if the position is uncertain.

Record the resolution and handle exceptions promptly

ASIC generally requires the resolution within two months of the annual review date. Its guidance describes an exception where the company lodged a financial report with ASIC in the preceding 12 months. Don't assume that giving accounts to your tax agent or lodging a tax return meets that exception.

Keep a positive resolution in the company records. For a negative resolution, ASIC's Form 485 instructions require notification within seven days of passing it. If no required resolution was passed within the two-month period, notification is due within seven days after that period ends.

If the company may be unable to pay debts, get accounting and legal advice promptly. Don't sign a positive statement simply to clear the administrative task, and don't assume an internal checklist resolves the company's insolvency duties.

Close the review with a short completion note

Record who checked the statement, who arranged any updates, when payment was made and where the resolution is stored. Give each unresolved issue an owner and deadline.

Keep this review separate from business-name renewal. A company trading under a separately registered name may have both obligations. Our business-name renewal guide explains the second process.

Key takeaways

• The annual review involves details, payment and solvency, not just an invoice.
• Use the company's actual dates and references.
• Base the solvency assessment on evidence and keep the required records.
• Escalate uncertainty or missed deadlines rather than backdating documents.

Where to get help

Use ASIC's annual review guidance for the official process. Your registered agent can clarify the service they provide; your accountant and lawyer can help with solvency concerns. The business registration hub brings the related obligations together.