If you have a company in Australia, ASIC will usually send an annual review statement each year.
For many directors, it looks like a simple invoice. But the ASIC annual review is more than just paying a fee.
It is the yearly process where directors need to check the company’s details, pay the annual review fee, and confirm whether the company can pay its debts when they fall due.
At GSD Tax & Business Advisory, we help company directors stay on top of ASIC compliance, annual reviews, company changes and ongoing tax obligations.
Quick answer: what is an ASIC annual review?
An ASIC annual review is a yearly check of your company details.
ASIC sends an annual statement shortly after the anniversary of the company’s registration date.
Directors generally need to:
- Pay the ASIC annual review fee.
- Check that the company details are correct.
- Update any incorrect details.
- Pass a solvency resolution.
The annual review is not optional. If the fee is paid late, ASIC late fees can apply.
What is included in the ASIC annual statement?
The annual statement usually shows:
- company name
- ACN
- registered office address
- principal place of business
- directors and secretaries
- shareholders or members
- share structure
- annual review fee invoice
- payment due date
Do not simply pay the invoice without checking the details. If the company details are wrong, they should be updated with ASIC.
How much is the ASIC annual review fee?
As at 1 July 2026, the ASIC annual review fee for a standard proprietary company is $342.
Special purpose companies may have a lower fee.
ASIC fees can change from 1 July each year, so directors should always check the amount shown on the annual statement.
When is the ASIC annual review fee due?
The ASIC annual review fee is usually due within two months of the company’s annual review date.
The exact due date will be shown on the annual statement. If the fee is not paid on time, ASIC late fees apply.
| Timing | Late fee |
|---|---|
| Paid up to one month late | $102 |
| Paid more than one month late | $428 |
These late fees are added on top of the annual review fee.
What is a solvency resolution?
A solvency resolution is a formal decision by the directors about whether the company can pay its debts when they fall due.
A positive solvency resolution means the directors believe the company can pay its debts. A negative solvency resolution means the directors believe the company cannot pay its debts.
In most cases, a positive solvency resolution does not need to be lodged with ASIC, but the company should keep it with its records.
ASIC must be notified if the company passes a negative solvency resolution or does not pass a resolution within the required time.
ASIC annual review vs company tax return
The ASIC annual review is not the same as the company tax return.
| ASIC annual review | Company tax return |
|---|---|
| Managed by ASIC | Managed by the ATO |
| Checks company registration details | Reports company income and tax |
| Includes ASIC annual review fee | Includes income, deductions and tax |
| Requires solvency review | Does not replace ASIC compliance |
Paying the ASIC annual review fee does not lodge your company tax return. Lodging the company tax return does not complete the ASIC annual review.
Common ASIC annual review mistakes
- paying the ASIC fee late
- ignoring the annual statement
- not checking company details
- forgetting to update directors, addresses or shareholders
- not passing a solvency resolution
- assuming the accountant has automatically handled it
- keeping an unused company open without reviewing whether it is still needed
These mistakes can lead to unnecessary late fees and compliance issues.
Should you keep an unused company open?
Not always. If the company is no longer trading, has no assets, no debts and is not needed, voluntary deregistration may be worth considering.
Before deregistering a company, check whether it:
- has bank accounts
- owns assets
- has debts
- has outstanding tax lodgements
- owns a business name
- acts as trustee of a trust
- may be needed later
Do not deregister a company without checking the tax, legal and commercial consequences.
How GSD Tax & Business Advisory can help
GSD Tax & Business Advisory can assist with:
- ASIC annual review reminders
- annual statement checks
- registered ASIC agent services
- company detail updates
- director and shareholder changes
- registered office updates
- share structure updates
- solvency resolution records
- voluntary deregistration guidance
- ongoing company tax and ASIC compliance
We help keep the process clear so directors know what needs to be done and when.
Need help with your ASIC annual review?
If you have received an ASIC annual review statement and are unsure what to do, get advice before the due date passes.
Book an ASIC Compliance ConsultationFAQs
Final thoughts
The ASIC annual review is not just another invoice. Directors should check the company details, pay the fee on time and record a solvency resolution.
If you are unsure what to do with your ASIC annual review statement, speak with GSD Tax & Business Advisory before the due date passes.