There are a very large range of filings which are used by companies to comply with their annual reporting obligations to the Australian Securities and Investments Commission. When a company is first established, there is the process of incorporation where the company is registered with ASIC and given its original structure with a constitution and usually the set of replaceable rules which are taken from the Corporations Act 2001 (Cth). These replaceable rules are usually suitable for most new companies. Once the company is up and running there are a range of forms which need to be filed annually such as the annual company statements. There are series of steps which are used to file the annual company statement which is comprised of the statement and the invoice for the amount due for the company annual review fee. The company statement is usually a very simple document detailing the registered office of the business, the principal place of business, an ultimate holding company, the officeholders, the company share structure and members. If there is a mistake on the statement, you have 28 days to change it to make it correct. There are other forms which need to be filed when you move office or a company director resigns with the Form 484 Change to company details. After the annual company statement has been filed, you also need to pay the review fee and pass a solvency resolution within 2 months of each review date for the company unless a financial report was lodged under Chapter 2M of the Corporations Act 2001, with ASIC within the previous 12 months. In the vast majority of cases, the company will pass a positive solvency resolution and the directors have stated that they have reason to believe that the company will be able to pay its debts as and when they fall due and payable. The company needs to keep records of this resolution but does not need to file them at ASIC.

As you can see, there are a large number of obligations on companies in relation to annual filing. We have lawyers who offer cheap document registration services to reduce the administrative cost on your business and ensure that company filings are done correctly each year. Please do not hesitate to contact us if you would like to discuss any aspect of company filings.