What happens if you don't pay your ASIC fees (or meet any other ASIC obligations)?

Every registered Australian company has an ongoing obligation to pay fees to the Australian Securities and Investments Commission (ASIC). Miss a payment, and the consequences start small. Leave them long enough, and they can threaten the legal existence of your business entirely.

The day after your fee is due, ASIC applies a late fee automatically. From that point, the longer you leave it, the more expensive it becomes.

If the fees continue to go unpaid, ASIC will send notices to your registered agent, your company's portal account or your registered office address. If those go ignored, final letters are sent directly to each director's residential address. At that point, ASIC is not providing a friendly nudge. They’re formally notifying you that your company is at risk.

For companies that remain non-compliant for twelve months or more, ASIC can begin deregistration proceedings. Once deregistration is complete, your company no longer exists as a legal entity, any contracts it held may become unenforceable, and any assets the business held are claimed by the Australian Government. On top of that, the personal liability protection that comes with operating as a company structure disappears. If the business continues to operate after deregistration, directors can find themselves personally responsible for any debts and obligations incurred.

Beyond the legal exposure, there is a reputational dimension that is easy to underestimate. Lenders, investors and business partners regularly check ASIC's public register. A visible history of non-compliance can affect loan applications, tender eligibility and the confidence of people you want to do business with.

Paying ASIC fees on time is not just a tick-box exercise. It acts as a signal that a business is being run properly.

ASIC late fees apply any time a company misses a deadline, whether that is a payment, a document lodgement or an update to company details. There are more ways to trigger a late fee than most business owners realise.

Late fees can apply when you:

Once a deadline is missed, ASIC applies an automatic late fee of $102 (applied the day after the due date). If the obligation remains unpaid (or unlodged) beyond one month, that rises to $428. These fees apply per missed obligation, so missing multiple deadlines means multiple late fees.

For companies subject to an industry funding levy, a penalty of 20% per annum of the overdue amount is charged for each month the payment remains outstanding.

To show how quickly this adds up, say your annual review fee is $342 and you also missed lodging a director update, and both are more than one month overdue. You are looking at the original $342 fee plus 2 lots of $428 in late penalties across the two obligations, totalling $1,198. What started as routine admin has become a four-figure cost.

Note: ASIC fees are indexed annually on 1 July. In the above example, we've used the figures that apply from 1 July 2026. Always check the current fee schedule on the ASIC website to confirm the rate that applies to your company.

In short, rarely. ASIC applies late fees automatically and the bar for having them removed is extremely high.

Waivers are only considered in genuinely exceptional circumstances where something entirely outside the company's control made compliance impossible. This includes situations such as a natural disaster destroying business records, a serious illness or death of a sole director, a confirmed cyberattack that prevented lodgement, court delays affecting required documentation or a processing error on ASIC's own end.

What will not qualify is a much longer list. Forgetting a deadline, not receiving the annual statement because contact details were out of date, cash flow problems, staff shortages, being busy or travelling. None of these will result in a waiver. 

ASIC's position is that compliance is the company's responsibility regardless of circumstance, and that position is applied consistently.

If you do believe you have genuine grounds for a waiver, you will need to apply through ASIC Connect and provide supporting evidence. ASIC aims to review applications within 28 days.

ASIC compliance is one of those things that can slip down the priority list when you are busy. The tips below can help make sure it does not catch you off guard.

Know your annual review date

The review date is the anniversary of your registration and it never changes, which means you can plan around it well in advance. Set calendar reminders and treat it like any other non-negotiable business deadline.

Keep your ASIC contact details current

If your registered email address or office address is out of date, annual statements and payment notices may never reach you. That does not remove your obligation to pay, so it’s worth always keeping your details up to date.

Assign clear ownership of compliance

When everyone assumes someone else is handling it, things get missed. Whether that is you or another team member, one person should be responsible for tracking deadlines and making sure lodgements and payments are completed on time.

Update company details as they happen

Do not wait until your annual review to notify ASIC of changes. Directors, addresses and share structures need to be updated within 28 days of a change occurring. Building a habit of lodging changes promptly removes the risk of late lodgement fees stacking up alongside your annual review obligations.

Budget for ASIC fees as a regular business cost

Fees are indexed annually on 1 July, so it is worth checking the current rate each year and setting funds aside so the payment is never a surprise.

Act as soon as your annual statement arrives

When your statement arrives, review it and pay promptly rather than waiting for the deadline to approach. This leaves a buffer for any technical issues with payment processing and reduces the chance of an avoidable late fee from a last-minute oversight.

Consider working with an accountant or registered ASIC agent

For businesses that find compliance admin difficult to keep on top of, having someone manage it means deadlines are monitored and lodgements are handled without it falling through the cracks. At Beany, our clients receive a heads-up when their annual review is due as part of their accounting service.

Not working with an accountant? Beany is an online accounting and business advisory firm with clients across Australia. Our team are based nationwide, from Auckland to the deep South. Get in touch or book a free discovery call to discuss how we can help your business.