Published 2026-11-01 | CorpArray Insights
The costly ASIC mistakes are rarely complicated. An invoice goes to an inbox nobody checks. A director in Bengaluru assumes the Sydney accountant has it covered. The review date passes and late fees start to build. If you run an Australian company with Indian owners or directors, the annual review is one of the easiest obligations to miss. It is also one of the easiest to get right once you have a system.
This guide covers what the ASIC annual review involves, what it costs in 2026, and where cross-border companies most often trip up.
Every registered Australian company must confirm its details with the Australian Securities and Investments Commission (ASIC) once a year. You do this by checking the company statement ASIC sends you, correcting anything that is out of date, and paying the annual review fee.
Your review date is the anniversary of the day your company was registered. A company registered on 14 March has a review date of 14 March every year. ASIC issues the statement and invoice around that date. You then have two months to pay and complete the review before late fees apply.
| 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 |
| Voluntary deregistration (Form 6010) | $52 |
Paying late adds at least $102 to a $342 bill. Beyond that, a company that repeatedly ignores ASIC notices risks being deregistered by ASIC, which can leave the directors with real problems.
Every Australian proprietary company needs at least one director who ordinarily lives in Australia. If your only Australian-resident director resigns or relocates, you are out of compliance. The annual review is a good moment to confirm you still meet this requirement. Also confirm that every director, including those based in India, has a Director ID.
ASIC posts the company's corporate key, which you need to access its online services, to the registered office. If that address is a provider you've stopped paying or an old accountant's office, the key can sit in a pile of mail while your review date approaches. Make sure someone at the registered office knows to forward ASIC mail promptly. Also check that the contact email on file belongs to a person or shared mailbox that will still exist next year, not a former employee.
Australia's financial year runs 1 July to 30 June. India's runs 1 April to 31 March. Your Indian parent's audit calendar and your Australian company's ASIC and ATO obligations rarely line up. Build one shared compliance calendar that shows ASIC review dates, Australian tax deadlines and Indian filing dates side by side.
Many small Australian proprietary companies are exempt from lodging financial reports with ASIC. Foreign-controlled small proprietary companies are generally not automatically exempt. Whether you need to lodge depends on your structure and whether ASIC relief applies. If an Indian company controls your Australian entity, confirm this early. Financial reports are generally due four months after year-end, so a 30 June year-end means 31 October.
If an Indian resident company or individual owns your Australian entity, they may have their own recurring filings. These can include the Annual Performance Report (APR) under India's overseas investment rules, generally due by 31 December, and the FLA return, generally due by 15 July. These depend on your structure, so have your Indian chartered accountant confirm which apply. They also rely on your Australian company's audited or certified numbers, which is another reason to keep ASIC records tidy.
If an Indian company has registered in Australia as a foreign company (Form 402), it pays a much higher annual review fee of $1,583. It also has a different set of ongoing obligations, including a local agent and, unless an exemption applies, lodging financial reports. Many Indian businesses start with a branch and later find that a wholly owned Australian subsidiary (Form 201) is cheaper to maintain. Compare the ongoing costs before you register.
If your Australian company has stopped trading, you pay $342 every year for nothing. Voluntary deregistration (Form 6010) costs $52. It generally requires that the company has no assets or liabilities, is not involved in any dispute, has paid all fees owing and has the agreement of its members. Do it before the next review date rolls around, and speak to your Indian advisers first if the company appears in your parent's books.
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The annual review is simple when it's on your calendar and painful when it isn't. For Australia–India companies, the real risk is the gap between two systems: ASIC's notices going to a mailbox nobody reads, or Indian owners assuming the Australian side is handled. Set your review date reminder, confirm your resident director and contact email, and align your Australian and Indian deadlines.
If you'd like a second pair of eyes on your structure, book a free 30-minute compliance call with CorpArray. We'll check your ASIC position and flag anything that needs attention before your next review date.
This article is general information only and is not legal, tax or financial advice. Obligations vary by company structure, so confirm your specific position with a qualified adviser.
CorpArray specialises in Australia-India corporate compliance. Fixed fees, no surprises.
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