Guides
Your EOFY Survival Guide for Australian Small Business/Companies
9 September, 2025 · 5 mins
Learn the essentials of ASIC’s annual company review: the three key steps you must complete
Quick summary
ASIC Company Review: Each year, around your registration anniversary, ASIC sends a statement with your company details and an invoice for the annual review fee
Your 3 key steps:
1. Pay the ASIC review fee
2. Check and update your company details
3. Pass a solvency resolution
Penalty: Late ASIC fee payment can mean fines up to $411
Extra Help: Download a free solvency resolution template or appoint ANNA as your ASIC agent
What is company ASIC review?
Every company has to complete an annual review. It’s how ASIC makes sure your company info’s up to date and your ASIC fee is paid
ASIC sends an annual statement with a summary of your registered details and an invoice for the review fee. See a sample
If ANNA is your appointed ASIC agent, the statement comes to us and we’ll forward it on. If not, it’ll land at your registered office address
Not seen it within 5 business days of your review date? Let us or ASIC know. Your review date is usually your company’s registration anniversary. If that’s changed, give us a heads up so we can update our records
What you need to do
Once you receive the statement, you’ve got three key jobs:
Step 1: Pay the annual review fee
Step 2: Check your company details and update them if needed
Step 3: Pass a solvency resolution (you can download a free template here and keep a copy on file)
Smart tips
- The annual review fee is due on the date shown in your statement, usually two months after your review date. Pay it on time to avoid late fees. Check ASIC Late Fees
- If we’re your appointed ASIC agent, message us in the app to update company details. You’ve got 28 days from when the change happens. Not with us yet? Want to appoint ANNA as your ASIC agent? Buzz us in the app chat and we’ll get it sorted
- Directors must pass a solvency resolution usually within two months of the review date to confirm the company can pay its debts. No need to notify ASIC, just keep a copy. You can grab a free template here. Once you’re done, upload it with your annual statement to your ANNA desktop portal under Documents > Company Documents
Got questions? Reach out to us via app chat. You can also find more info about company annual reviews on the ASIC website
<< Back to ASIC Company Statement
Frequently asked questions
What is an ASIC company statement?
It’s the annual document ASIC issues on your review date, confirming company details and invoicing the annual review fee
What’s the ASIC company statement service all about?
Each year, ASIC needs to confirm your company’s details and collect a fee. ANNA handles the statement, keeps you compliant, and gives you handy reminders so nothing slips
When is my ASIC annual review due?
Your review date is the anniversary of your company’s registration. ASIC sends a reminder every year, but it’s your responsibility to make sure it’s paid within two months of that date
How much is the ASIC annual review fee?
From 1 July 2025, it’s $329. This amount is set by ASIC and can change from time to time
Do I really need solvency-resolution minutes?
Yes. Directors must pass a resolution within two months of the review date and keep the minutes with company records
What happens if I miss the payment?
Your review date is the anniversary of your company registration. You’ve got 2 months from that date to pay. Miss the window and ASIC starts adding late fees and yes, they stack up fast:
From 1 July 2025, These amounts are set by ASIC and can change from time to time
1 month late = $98
2 months late = $411
Don’t pay? ASIC can deregister your company. Not ideal
Can I get late fees waived?
In rare cases, yes – but only if something big and beyond your control happened. Think floods, fires, court orders or ASIC messing things up
What do I need to sign?
• Form 362 – let ANNA act as your company’s ASIC agent
• A Solvency Resolution, which needs to be signed by directors
Is ANNA a registered ASIC agent?
Yes! We are a registered ASIC agent. Our registration number is 50939
What’s an ASIC agent?
As your ASIC agent, we handle the paperwork, correspondence, and updates with the ASIC – like changing your address or director info. Less admin, more peace of mind
Do I really have to pay the annual fee?
Yep. No fee, no active company. ASIC’s rules, not ours
Disclaimer
This content is general information for small businesses. You can only use the document for your noncommercial purposes. In no event shall we be held liable for any claims arising due to, or dependencies on the accuracy and completeness of the content provided. ANNA+Taxes does not provide personal or professional financial, accounting or tax advice and you should consult with external professionals for advice tailored to your situation prior to making any decisions
