ASIC late fees can hit hard if you are not on top of your deadlines.
If you have received a notice about ASIC late fees, do not stress. It is a common issue and there are clear ways to fix it.
In this 2025 guide, we explain what ASIC late fees are, why they happen, how much they cost, and how you can deal with them or avoid them. We also cover tips on how to apply for an ASIC late fee waiver if you are eligible.
By the end, you will know exactly how to manage ASIC payments and avoid extra charges in the future.
What are ASIC late fees?
So, what exactly are these extra charges from ASIC? Put simply, ASIC applies ASIC late fees if you don’t pay certain required fees on time or if you lodge company documents after their deadline. They’re basically penalties for missing a due date.
There are two main types you need to know about:
- ASIC Late Payment Fees: This is the most common one. It usually happens when you don’t pay your company’s annual review fee on time. Your annual review fee comes with your company annual statement each year.
- Late Lodgement Fees: This type of ASIC late fee occurs if you don’t tell ASIC about important company changes within the set time frame – usually 28 days after the change happens. Common examples include not notifying ASIC about a new company address, a change in directors, or adjustments to your company’s share structure.
Why do ASIC late fees catch so many businesses out?
Often, it comes down to a few common slip-ups:
1. Missing the annual statement deadline
ASIC sends your company annual statement each year (usually around the anniversary of your company registration). You have two months from the statement date to check your details are correct, pass a solvency resolution (if required), and pay the annual review fee. Miss that two-month window, and ASIC late payment fees start kicking in. This is the number one reason businesses get hit with late fees.
2. Forgetting the 28-day rule for changes
When things change in your company (like an address or director), you only have 28 days to lodge the update with ASIC. It’s easy to let this slide when you’re busy running your business, leading to a late lodgement fee.
3. Outdated contact details
If your contact details (email, registered office address) aren’t up-to-date with ASIC, you might simply miss the annual statement or other important notices. You’re still liable for the fees even if you didn’t receive the mail.
Understanding these triggers is the first step towards avoiding those pesky ASIC penalty fees.
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ASIC late fee schedule 2025: What you’ll pay
Nobody likes surprise costs. Knowing the potential ASIC late fees helps you understand the importance of meeting deadlines. Keep in mind that ASIC usually adjusts its fees each year on July 1st, often based on the Consumer Price Index (CPI).
Here’s what ASIC late fees look like right now and what they’re projected to be later in 2025:
ASIC Late Fees (Valid until June 30, 2025)
Lateness | Fee |
Lodgement or payment up to 1 month late | $96 |
Lodgement or payment over 1 month late | $401 |
Projected ASIC Late Fees (Expected from July 1, 2025)
Lateness | Projected Fee |
Lodgement or payment up to 1 month late | $100 |
Lodgement or payment over 1 month late | $415 |
These ASIC penalty fees apply whether you’ve paid your annual review fee late (ASIC late payment fees) or lodged a document late (late lodgement fee).
Remember, these late fees are on top of the original fee you missed. For example, the standard proprietary company annual review fee is $321 (until June 30, 2025, projected to be $340 from July 1, 2025). If you pay that fee one day late, you’ll owe the $321 plus the $96 late fee. Ouch.
Important note: These figures are estimates based on typical annual increases. ASIC will confirm the official fees closer to July 1, 2025.
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Stop paying extra! Smart ways to avoid ASIC late fees
The best way to deal with ASIC late fees is to not get them in the first place! Prevention is definitely better (and cheaper) than cure. Here are some practical steps you can take to avoid ASIC fees:
Know your key dates
Mark your calendar! Your company’s annual review date is usually the anniversary of its registration. You have two months from that date to pay the annual review fee. For company changes, remember the 28-day deadline for notifying ASIC.
Set reminders
Don’t rely on memory. Put reminders in your calendar or diary a week or two before your company annual statement payment is due and whenever you make a company change that needs lodging.
Keep your contact details current
This is crucial. Log in to ASIC’s online services and check that your registered office address, email address, and contact person details are correct. Tell ASIC immediately if they change. This ensures you actually receive your notices.
Action your annual statement promptly
When your company annual statement arrives, don’t just file it. Open it, check all the details are correct, make sure your directors pass the required solvency resolution, and schedule the ASIC payment for the annual review fee well before the due date.
Consider a registered agent
Many businesses use a registered agent (like an accountant or a service provider) to help manage ASIC compliance. They often have systems to track deadlines and send reminders, helping you avoid ASIC fees.
Use ASIC online services
Registering for ASIC’s online portal lets you check your company details, view your account balance, and update information easily.
Taking these simple steps can save you hundreds of dollars in ASIC late fees and keep your company in good standing.
Got an ASIC late fee? Here’s how to handle it
Okay, so despite your best efforts, a notice for an ASIC late fee has landed in your inbox or mailbox. Don’t panic. Here’s how to handle it:
Step 1: Find the notice
Locate the ASIC invoice or notice. This will have the important details, including why the fee was charged (late payment or late lodgement), the amount owing, the due date, and crucially, the Payment Reference Number (PRN). You’ll need the PRN to make the ASIC payment.
Step 2: Check the amount
Does the invoice include just the ASIC late fee, or does it also include the original unpaid fee (like the annual review fee)? Make sure you know the total amount you need to pay.
Step 3: Pay promptly
The longer you wait, the worse it can get. If your payment tips over the “one month late” mark while you delay, the fee jumps from $96 to $401 (based on current rates). Pay the full amount owing as soon as possible.
How to pay
ASIC offers several payment options. The easiest are usually:
- BPAY: Use the Biller Code and PRN from your invoice.
- Credit Card: Via ASIC’s website or Post Billpay.
- Post Billpay: At an Australia Post office.
Paying quickly resolves the immediate issue and stops the ASIC penalty fees from potentially increasing.
Asking for a fee waiver: Is it possible for ASIC late fees?
You might be wondering if you can get the ASIC late fee cancelled. The short answer is: it’s very difficult. ASIC has limited power to grant an ASIC late fee waiver, and they only consider it in very specific situations.
When ASIC might consider a waiver
ASIC may consider waiving ASIC late fees only if something genuinely beyond the control of all company representatives prevented you from paying or lodging on time. Examples include:
- An error or processing delay caused by ASIC itself.
- A court delay (e.g., waiting for a signed order).
- Significant disruption due to natural disaster like fire and flood that destroyed records or prevented access.
- Severe illness or death of a sole director impacting their ability to manage company affairs right before the deadline.
- A verified cyberattack that crippled your business systems.
When ASIC generally will not waive fees
Getting an ASIC late fee waiver is unlikely if the delay was due to:
- Simple oversight, forgetting, or administrative errors.
- Not receiving the notice (if your contact details with ASIC weren’t up-to-date).
- Not having enough funds to pay the fee.
- Staff shortages, leave, or internal process issues.
- Being busy or travelling.
How to apply for an ASIC late fee waiver
If you believe you have grounds based on the strict criteria above:
Step 1: Pay the Original Fee First: You must pay the underlying fee (e.g., the annual review fee) before ASIC will even consider waiving the associated ASIC late fee. Do not pay the late fee itself yet.
Step 2: Apply Online: Lodge your ASIC late fee waiver application through ASIC’s online portal.
Step 3: Provide Strong Evidence: This is critical. You need solid proof (like medical certificates, statutory declarations, police reports, photos of damage) that clearly shows the unavoidable circumstances affected all directors/representatives and directly prevented timely lodgement or payment.
Step 4: Wait for a Decision: It can take ASIC up to 28 days to assess your application. They will notify you in writing whether your request for an ASIC late fee waiver has been approved or rejected. If it’s rejected, you’ll need to pay the late fee immediately.
Given how strict the criteria are, focusing on prevention is always the best strategy to deal with ASIC late fees.
Keeping your company healthy with ASIC
Dealing with ASIC isn’t just about avoiding ASIC late fees. It’s about keeping your company records accurate and meeting your legal obligations. When you receive your company annual statement, remember it’s not just about the ASIC payment. It’s your prompt to:
- Check Company Details: Ensure your registered address, business addresses, and officeholder details are correct.
- Confirm Solvency: Directors usually need to pass a resolution stating the company can pay its debts when they fall due.
Staying on top of these tasks keeps your company compliant and avoids unnecessary ASIC penalty fees and potential headaches down the track.
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Conclusion
Dealing with ASIC late fees can be a hassle, but understanding how they work is half the battle. Remember the key takeaways:
- Know the difference between ASIC late payment fees (usually for annual reviews) and late lodgement fees (for not reporting changes).
- Be aware of the current ASIC fee schedule: 2025—$96 for up to one month late, $401 for over one month late (with projected increases from July 1, 2025).
- Focus on prevention: diarise dates, keep contacts updated, and action your company annual statement promptly.
- If you get hit with ASIC late fees, pay quickly using the correct ASIC payment method.
- An ASIC late fee waiver is rarely granted and requires proof of exceptional circumstances.
By staying organised and informed, you can take control of your ASIC obligations and make sure ASIC late fees don’t catch you out. We hope this guide gives you the clarity and confidence you need for your ASIC compliance in 2025!
Mastering ASIC Compliance: Your Guide to Success
FAQs about ASIC late fees
What happens if you don’t pay ASIC fees?
If ASIC fees are not paid on time, the company may be deregistered by ASIC. This could have serious consequences for the business and all associated stakeholders.
What are the different types of late fees charged by ASIC?
ASIC charges two main types of late fees – late lodgement fees for tardy submission of documents and late payment fees for delayed payment of fees – making it important to stay up to date with compliance requirements.
What happens if I just ignore ASIC fees?
Ignoring ASIC fees, including ASIC late fees, is a bad idea. ASIC can take further action, including potentially deregistering your company, which can be costly and complicated to reverse. It’s always best to address any fees promptly
How can I avoid late fees?
To avoid late fees, stay on top of due dates for payments and keep your company details up to date with ASIC.
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