• 25 April, 2026

What Is an ASIC Annual Review?

An ASIC annual review is a mandatory yearly process required to keep your company registered in Australia.

Each year, the Australian Securities and Investments Commission (ASIC) will:

• Issue an annual statement
• Require you to review company details
• Require a solvency resolution
• Charge an annual review fee

👉 This is separate from your ATO tax obligations.

Key Takeaways (2026)

✔️ ASIC annual review fees are mandatory for all registered companies
✔️ Standard proprietary company fee is around $329 (subject to indexation)
✔️ Late fees apply automatically if you miss the deadline
✔️ Payment is generally due within 2 months of your review date
✔️ A simple compliance system can prevent penalties

ASIC Annual Review Fees (2026)

ASIC fees are indexed annually (usually from 1 July).

Typical Fee Structure:

Company Type	Fee Position
Proprietary Company	Standard annual fee applies
Public Company	Higher fee applies
Special Purpose Company	Reduced fee may apply

💡 Important:
Always check ASIC’s updated fee schedule each year, as amounts can change.

ASIC Late Fees (This Is Where It Gets Expensive)

If you miss the payment deadline:

• ⏳ Within 1 month late: ~$98 penalty
• ⏳ More than 1 month late: ~$411 penalty
  Example:

  Item	Amount
  Annual Fee	$329
  Late Fee	$411
  Total	$740

👉 That’s more than double the original cost — completely avoidable.

Understanding Your ASIC Review Date

Your review date = your company’s registration anniversary.

ASIC will:

• Issue your annual statement on this date
• Start the 2-month payment window

Why This Matters

Many directors make this mistake:
❌ They rely on the email/letter arrival date
✔️ ASIC works from the official review date

What You Must Do Each Year

1. Review Company Details

Check:

• Registered office
• Business address
• Directors
• Shareholders

2. Pass a Solvency Resolution

Directors must confirm:
👉 The company can pay its debts when due

3. Pay the ASIC Fee

• Use invoice details carefully
• Pay before the deadline

How to Avoid ASIC Penalties (Simple System)

✔️ Build a Compliance Calendar

Set 3 reminders:

• 30 days before review date
• On review date
• 1–2 weeks before payment deadline

✔️ Assign Responsibility

One person must own:
👉 Review + payment + record keeping

✔️ Keep Records Properly

Save:

• Annual statement
• Payment confirmation
• resolution

✔️ Budget the Fee

Treat ASIC fees as a fixed yearly cost, not a surprise.

Common Mistakes That Lead to Penalties

🚫 Ignoring ASIC emails
🚫 Wrong registered office address
🚫 Assuming accountant handled it
🚫 No tracking system
🚫 Paying after deadline

👉 These are admin issues — not technical problems.

Risk of Ignoring ASIC Obligations

If ignored for too long:

⚠️ Late fees increase
⚠️ Compliance risks grow
⚠️ Company may face deregistration

👉 Deregistration can:

• Disrupt operations
• Affect contracts
• Create costly reinstatement issues

Step-by-Step: Staying Compliant Every Year

1. Add review date to calendar
2. Ensure ASIC contact details are correct
3. Check annual statement immediately
4. Complete solvency resolution
5. Pay fee before due date
6. Store all documents securely

Is ASIC Annual Review Required for All Companies?

✔️ Yes — if your company is registered

Even if:

• No trading activity
• Dormant company
• Holding investments only

👉 You still need to comply.

Frequently Asked Questions

Is ASIC annual review the same as tax return?

❌ No — ASIC is for company registration
✔️ ATO handles tax

Can ASIC late fees be waived?

Sometimes, but:
👉 Never rely on this

Can I prepay ASIC fees?

✔️ Yes (in some cases), but not always necessary

How do I find my review date?

• Check previous ASIC statement
• Use ASIC Connect
• Ask your accountant

Final Thoughts

ASIC annual reviews are simple but critical.

👉 The real issue isn’t the fee — it’s:

• Missing deadlines
• Poor tracking
• Lack of ownership

A basic system + awareness = zero penalties

How Workpaper Can Help

At Workpaper, we help businesses stay compliant and stress-free:

✔️ Track ASIC review dates
✔️ Manage annual compliance
✔️ Maintain company records
✔️ Prevent penalties and missed deadlines

📞 Contact Workpaper

🌐 Website: https://workpaper.com.au

📍 Address: 7 Bridge St, Werribee, Victoria 3030, Australia
📞 Phone: 0485 825 915
📧 Email: info@workpaper.com.au