ASIC Annual Review Service
Every year a company must report to ASIC to primarily advise that the company is continuing to trade and will continue with its activities for the next 12 months. Also the company is required to complete an annual statement and pay a fee on the anniversary of its registration date to ensure the company remains registered.
As a director of the company you are required to;
- Check the company statement to ensure it is correct;
- Change company details within 28 days (should any changes be required);
- Pay the Annual Fee within 2 months of the statement date (otherwise penalties apply); and
- Pass a Solvency Resolution.
It is important that changes to the company’s details are kept within the register and ASIC is notified at the time the change is occurring. However, if for some reason the change is not notified at the time, it must be notified and ASIC forms lodged within 28 days of the statement date in that year. If the change is still not notified ASIC will charge an additional late lodgement penalty for not notifying them on two occasions.
Relieve yourself of the additional work load!
Our expertise as ASIC Agents, allows us to provide a service whereby we assist company owners in keeping their company’s compliant by continuous monitoring and lodgement of ASIC forms on their behalf.
Every year we communicate with owners to ensure that ASIC is aware that the company will be continuing to trade and will continue with its activities for the next 12 months.
We provide a regular reminder to ensure ASIC fees are paid to avoid paying additional penalties.
Our Annual Review Service is ideal for all Small Business Owners who would rather spend time on their businesses or don’t understand the process involved.
Many Accounting Firms and Legal Firms also outsource this area of their business to us as training and retaining experienced staff can be expensive.
Contact us for a FREE quote or to find out more about how this service can work for you.