ASIC Annual Review Guide 2026: What Australia-India Businesses Must Do to Stay Compliant

An ASIC invoice arrives at a registered office address in Sydney that nobody checks. The founder is in Bengaluru, the Australian director is travelling, and two months later a late fee appears. Many Indian-owned Australian companies run into this every year. The annual review is simple, but it is easy to miss when owners, directors and mail are split across two countries and two time zones.

This guide explains how the ASIC annual review works in 2026, what it costs, and how to stay on top of it if your business sits on the Australia-India corridor.

What Is the ASIC Annual Review?

Every registered Australian company must complete an annual review with the Australian Securities and Investments Commission (ASIC). Each year, on your company's review date (the anniversary of its registration), you must confirm that ASIC's records are correct and pay the annual review fee.

What the review involves

ASIC sends a statement ahead of your review date. You check the details it holds and correct any that are wrong. These include:

• Company name, type and registered office address
• Principal place of business
• Director and secretary details
• Shareholder names, addresses and share structure
• Ultimate holding company details, if one exists

You then pay the fee. Directors must also pass a solvency resolution within two months of the review date, confirming the company can pay its debts as they fall due. You keep this resolution with your company records and do not lodge it with ASIC.

Annual review vs financial reports vs tax

Founders often confuse three separate obligations:

• ASIC annual review: confirms your company details and pays the annual fee.
• Financial reporting: some companies, such as large proprietary companies and certain foreign-controlled ones, must lodge audited financial reports with ASIC. Many small proprietary companies are exempt.
• ATO tax returns and BAS: these are managed through the Australian Taxation Office and have their own deadlines.

Completing one does not satisfy the others.

ASIC Annual Review Fees in 2026

Item	ASIC fee
Annual review fee, proprietary company	$342
Annual review fee, registered foreign company	$1,583
Late lodgement, up to 1 month	$102
Late lodgement, over 1 month	$428

The late fees are avoidable. Paying the $342 on time costs far less than paying it plus a $102 or $428 penalty.

Why the Australia-India Corridor Creates Extra Risk

Most Indian-owned Australian businesses are either an Australian proprietary company (Pty Ltd) with Indian shareholders, or an Indian company registered in Australia as a foreign company. Both structures have pressure points.

Resident director and registered office

A proprietary company needs at least one director who ordinarily lives in Australia, plus a registered office address in Australia. If your Australian director leaves or your address provider changes, update ASIC promptly. ASIC statements and notices go to the registered office and the contact details on file. If those are out of date, you will not see the reminder.

Time zones and communication gaps

India Standard Time is 4.5 to 5.5 hours behind Sydney and Melbourne, depending on daylight saving. Email notices can sit unread across a long weekend or a festival break such as Diwali. Put review dates in a shared calendar with reminders at 60, 30 and 7 days, and name one person who is responsible for acting on them.

Pty Ltd or registered foreign company?

The structure you choose changes your annual cost. Registering a company (Form 201) or a foreign company (Form 402) both cost $636 upfront. The annual review fee then differs sharply:

• Proprietary company: $342 a year
• Registered foreign company: $1,583 a year

Over five years that gap is significant, and a foreign company can carry additional reporting duties. Many Indian businesses expanding into Australia set up a local subsidiary instead of a branch. The right choice also depends on tax, liability and banking, so get advice before you register.

Your ASIC Annual Review Checklist

1. Find your review date. Search your company on ASIC Connect or check your registration documents.
2. Confirm where ASIC sends notices. Check that the registered office, contact email and mailing address are monitored by someone who will act.
3. Review every detail. Check directors, secretary, shareholders and share structure. Changes in India, such as a new shareholder or a director moving, often have not been reported to ASIC.
4. Lodge corrections on time. Most changes must be notified within a set period, and you should not wait for the annual review to report them.
5. Pay the fee. Use a method that works from where your finance team sits, such as an international credit card or an Australian bank account. Keep the receipt.
6. Pass and file the solvency resolution. Record it in your company minutes within two months of the review date.
7. Check other ASIC obligations. Confirm whether financial reporting applies to you, and make sure every director has a Director ID.
8. Diarise next year's date. Set the reminders before you close this year's file.

Don't Forget the Indian Side

If an Indian company or resident owns your Australian entity, Indian rules may also apply. Overseas direct investment is governed by FEMA and RBI regulations. These typically include annual filings such as the Annual Performance Report for overseas investments and the Foreign Liabilities and Assets (FLA) return. Your Australian company's financial statements and ASIC records often feed into these filings, so inconsistencies between the two can cause problems later. Ask your Indian chartered accountant to confirm the current requirements and deadlines for your situation.

Common Mistakes to Avoid

• Treating the invoice as junk mail. Notices sent to an old address or an unmonitored inbox are the most common cause of late fees.
• Letting records drift. A new Indian shareholder or a changed director address that is not reported to ASIC will surface at the worst time, such as a bank review or a funding round.
• Assuming a dormant company is free. A company with no trading activity still owes the annual review fee until it is properly closed.
• Skipping the solvency resolution. It is easy to forget because nothing is lodged, but directors are still expected to have passed it.

What Happens If You Miss the Deadline?

Late lodgement fees apply: $102 up to one month late and $428 beyond that. If a company stays unpaid and non-compliant, ASIC can start the process of deregistering it. Reinstating a company is more expensive and time-consuming than paying on time, and a deregistered company's assets can vest in ASIC. For companies with Australian bank accounts, contracts or property, this creates real commercial risk.

If the company is no longer needed

If your Australian company is inactive and meets ASIC's conditions for voluntary deregistration, such as no assets, no liabilities and agreement from all members, lodging Form 6010 costs $52. That can be cheaper than paying the $342 review fee every year for a company you are not using. Close it properly through ASIC rather than ignoring the invoices.

Stay Ahead of Your Next Review Date

The ASIC annual review takes little time when you plan for it. For businesses linking Australia and India, the work is mostly about visibility: knowing your review date, keeping your records current on both sides of the corridor, and having someone responsible for acting before the deadline. If you are unsure whether your company details are accurate, whether your structure suits you, or whether you have missed a filing, CorpArray can help. Book your free compliance check and we will review your position and flag anything that needs attention before it turns into a penalty.

This article is general information, not legal or tax advice. ASIC fees and requirements can change, so confirm current details with ASIC or a qualified adviser.

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