
Missed an ASIC Lodgement? Here’s What to Know About ASIC Late Fees and Penalties
Missing an ASIC lodgement deadline creates immediate consequences: late fees, penalties, and potential company deregistration. These escalate quickly but can be managed with prompt action and a clear understanding of your options.
Understanding ASIC Late Fees
When you miss any ASIC due date, late fees apply automatically, adding significant costs to your original obligation. The longer the payment or document remains outstanding, the higher the penalty. For the 2025–26 financial year, ASIC fees and penalties are indexed annually in line with the Consumer Price Index (CPI).
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Scenario | Late Fee (AUD) | When It Applies |
---|---|---|
Lodgement/Payment up to 1 month late | $98 | Days 1–30 after due date |
Lodgement/Payment more than 1 month late | $411 | Day 31 onwards |
Annual review fee (proprietary company) | $329 | By due date |
Voluntary deregistration application | $50 | When lodged |
Business name registration (1 year) | $45 | At time of application |
Fees increase annually on 1 July in line with CPI movements.
If your annual review fee is $329 and you pay it two months late, you’ll owe $329 plus $411 in late fees—a total of $740.
What Triggers ASIC Late Fees?
Late fees from ASIC are usually caused by missing important deadlines for your company’s payments or paperwork, which can add extra costs and compliance worries if not managed carefully.
Annual Review Fee Delays: Every Australian company receives an annual statement from ASIC around its company’s annual review date. You have two months from this date to pay the fee on time.
Company Details Updates: Any changes—such as new directors, registered office address updates, or share structure modifications—must be notified to ASIC within 28 days.
Document Lodgement Delays: Various ASIC forms have specific deadlines. Missing these results in late lodgement fees, often in addition to the annual review fee late penalty.
How ASIC Processes Late Payments
ASIC’s system operates automatically—late fees attach the moment deadlines pass, regardless of weekends or public holidays.
Payment Options Available
ASIC provides several straightforward ways to pay your fees and lodge documents, helping you meet your obligations on time and avoid late charges
BPAY: Using the details on your invoice (allows three business days for processing)
Credit card: Visa or Mastercard payments via ASIC Connect (processed instantly)
Post Billpay: Pay online at Australia Post or by phone
Cheque or money order: Mail payments to ASIC’s processing centre
Always keep proof of payment in case of any processing delay or dispute.
Invoice and Reminder System
ASIC typically sends paper or electronic reminders to your registered office. However, companies remain responsible for meeting deadlines even if reminders aren’t received. Many registered agents now offer automated reminder services, sending notices at 28, 46, and 54 days after your annual statement is issued.
Consequences of Ongoing Non-Compliance
Ignoring ASIC obligations leads to far more serious problems than late fees.
Company Deregistration Process
If you don’t pay your annual review fee for 12 months, ASIC may begin strike-off proceedings:
Public Notice: ASIC publishes its intention to deregister your company.
Waiting Period: You have a final opportunity to pay outstanding amounts.
Deregistration: If fees remain unpaid, your company is removed from the register.
Once deregistered, your company loses all legal rights. Remaining assets vest in the Commonwealth, and you can no longer trade or hold property.
Director Liability Issues
Deregistration also removes the corporate shield that normally protects directors from personal liability for company debts. If you continue to trade after deregistration, you risk personal responsibility for those obligations.
Impact on Business Relationships
Visible compliance issues on ASIC’s public register can harm your reputation. Lenders, investors, and partners often check these records, and a history of late payments may affect loan applications, tenders, and partnership negotiations.
Fee Waiver Applications
ASIC does have limited power to waive late fees, but this is rare and only in exceptional, unforeseen circumstances.
Qualifying Circumstances
ASIC may consider waivers if:
Natural disasters prevent access to business records or payment systems
Processing delays occur within ASIC’s own systems
Court orders delay required documentation
Serious illness or death of key personnel prevents compliance
What Won’t Qualify
ASIC will not waive fees for cash flow problems, failure to receive annual statements or reminders, representative errors without qualifying circumstances, or general business difficulties.
Application Process
If you believe you qualify for a fee waiver:
Pay the original fee (not the late fee you’re requesting to waive).
Apply online through ASIC’s portal within 14 days.
Provide evidence supporting your exceptional circumstances.
Wait for a response—ASIC generally replies within 28 days.
Success rates are low, so prevention is always better than cure.
Managing Your ASIC Compliance
Establishing robust systems can help you avoid late fees and maintain good standing.
Annual Review Date Management
Your company’s annual review date never changes—it’s based on your original registration date. Mark it clearly in your calendar and set reminders well in advance. Consider creating a compliance calendar tracking annual review fee due dates, director meetings for solvency resolutions, and expected timing for ASIC annual statements.
Registered Agent Services
Many companies use registered agents to handle ASIC compliance. These professionals monitor lodgement deadlines, receive ASIC communications, lodge required documents, pay fees, and keep records up to date. While agents charge for this service, it’s often far less expensive than late fees and penalties.
Company Details Maintenance
Update ASIC promptly—don’t wait for your annual review period. The 28-day rule for notifying changes applies year-round, and multiple late lodgements lead to compounding penalties. Keep ASIC informed about new directors, address changes, share structure modifications, and contact detail updates.
Recovery Steps After Missing Deadlines
If you’ve already missed a deadline, immediate action can limit further damage:
Lodge or pay immediately: Late fees stop once ASIC processes your transaction.
Check for related obligations: Missing one deadline often indicates other overdue requirements.
Update contact details: Ensure ASIC has current contact information so you receive future notices.
Seek professional assistance: If you’re facing multiple missed deadlines or deregistration notices, get expert help.
Prevention Strategies for Future Compliance
Missing key deadlines for your company’s annual statement or company documents can lead to unnecessary ASIC charges and compliance headaches, but a few straightforward habits can help you stay on track.
Systematic Reminders
Set up calendar alerts and email notifications for all key ASIC deadlines, including the annual company statement and annual review dates. If your company does not pay on time, ASIC charges escalate quickly, so reminders are essential. Registered agents can send reminders at regular intervals, helping you keep track of when to lodge company documents and statutory declarations. This gives you time to gather the right records and make payments before late fees apply.
Financial Planning
ASIC charges increase every year on 1 July, and these fees cover annual statements, document lodgements, and compliance checks. Budget for these costs as part of your regular business planning, and set aside money each month so funds are available when invoices arrive. If your company misses a payment, ASIC does not send multiple reminders—responsibility remains with the business to pay on time. Having a plan in place for when fees are due reduces the risk of unexpected costs or compliance gaps.
Record Keeping
Keep all company documents up to date, including director details, share registers, meeting minutes, and statutory declarations. Promptly lodge any changes with ASIC within the required 28 days to avoid late lodgement fees. When you maintain current records, it’s easier to prepare the company annual statement and respond quickly to ASIC requirements. Staying organised means fewer chances for missed deadlines, unpaid fees, or the need to request fee waivers due to administrative errors.
Key Points
Falling behind on your company’s obligations with ASIC can quickly lead to costly penalties and serious consequences but knowing how these risks unfold and what steps you can take makes all the difference.
Late fees start immediately after a deadline and increase sharply after 30 days.
Ongoing non-compliance can lead to company deregistration and personal liability for directors.
Fee waivers are rare and only for exceptional circumstances.
Prevention—through reminders, good record keeping, and professional support—is the most effective strategy.
How ACT Tax Group Can Help
ACT Tax Group offers comprehensive ASIC compliance services for Canberra businesses, including deadline monitoring, document preparation, fee payment, and liaison with regulators. Our structured approach helps keep your company in good standing and protects you from unnecessary penalties and complications.
With the right systems and support, you can avoid ASIC penalties and maintain a strong professional reputation.
Disclaimer: All information provided in this publication is of a general nature only and is not personal financial or investment advice. It does not take into account your particular objectives and circumstances. No person should act on the basis of this information without first obtaining and following the advice of a suitably qualified professional. To the fullest extent permitted by law, no person involved in producing, distributing or providing the information in this publication (including ACT TAX GROUP PTY LTD, each of its directors, councilors, employees and contractors and the editors or authors of the information) will be liable in any way for any loss or damage suffered by any person through the use of or access to this information. The Copyright is owned exclusively by ACT TAX GROUP PTY LTD (ABN 31634338088)