- Voluntary deregistration is for solvent companies that have stopped trading, hold assets worth less than $1,000, and have no outstanding debts or legal proceedings.
- You close the company by lodging ASIC Form 6010 with the fee, after which ASIC publishes a notice and deregisters the company about two months later.
- Deregistration is not the same as going dormant or being wound up when insolvent, so confirm which path fits before you start.
Deregistering a company is how you formally close a Pty Ltd in Australia so it stops existing and stops attracting ongoing fees. If you have a company that has finished trading, the worst thing you can do is simply stop lodging, because the annual review fee keeps accruing and late penalties pile up on top.
Voluntary deregistration is the clean, low-cost way out, but only if your company meets a specific set of conditions first. This guide walks through who is eligible, exactly how to lodge, what it costs, and what happens once the company is gone.
What does it mean to deregister a company?
To deregister a company means to remove it from the register that the Australian Securities and Investments Commission (ASIC) maintains, so that it legally ceases to exist. Once deregistered, the company can no longer trade, hold assets, enter contracts or be sued, and its obligation to pay the annual review fee stops.
Voluntary deregistration is the route for a solvent company whose owners have decided to close it. It is a deliberate application you make to ASIC, not something that happens automatically. If you are still weighing up whether to close at all, our company registration service and the resources below can help you think it through, but this guide assumes you have decided to shut the company down.
Deregistration vs winding up vs going dormant
Before you start, it is worth being sure deregistration is the right path, because three different situations get confused with one another.
The three options break down like this:
- Voluntary deregistration suits a solvent company that has stopped trading and meets the eligibility rules. It is the focus of this guide.
- Winding up (liquidation) applies when a company is insolvent, or when it is solvent but cannot meet the voluntary deregistration conditions, for example if it still holds assets worth more than $1,000. A solvent company in that position uses a members’ voluntary liquidation, which requires a registered liquidator. That is a different process; our company liquidation guide covers it.
- Going dormant means keeping the company registered but inactive, which some owners choose if they might use it again later. That keeps the annual review fee running.
If you are torn between closing for good and pausing, our comparison of a dormant company versus deregistration works through the decision. In short, dormant keeps the company alive and costing money; deregistration ends it. This page is for owners who have chosen to end it.
Are you eligible for voluntary deregistration? (ASIC checklist)
ASIC will only accept a voluntary deregistration if every condition is met. This is the most important section, because getting it right up front avoids a rejected application.
To be eligible for voluntary deregistration, all of the following must be true:
- all members (shareholders) agree to deregister
- the company has stopped carrying on business
- the company’s assets are worth less than 1,000 dollars
- the company has paid all fees and penalties due under the Corporations Act 2001
- the company has no outstanding liabilities, including any charges
- the company is not party to any legal proceedings
If your company fails any one of these, deregistration is not yet available. The two that trip owners up most often are the asset ceiling and outstanding liabilities, so deal with those before lodging. That usually means paying out or transferring assets so the balance sits under $1,000, and clearing any debts. If you cannot get under the threshold or clear the liabilities, a members’ voluntary liquidation is the route instead.
How much does it cost to deregister a company?
Lodging the voluntary deregistration application (ASIC Form 6010) costs 52 dollars from 1 July 2026, up from 50 dollars for lodgements to 30 June 2026. ASIC indexes many of its fees at the start of each financial year, so this figure can change annually.
There is no ongoing cost once the company is deregistered, which is the whole point: it stops the annual review fee. Weigh the one-off 52 dollar lodgement against the recurring fee you would keep paying if you left the company registered or dormant. For a company you have finished with, closing it is almost always cheaper over time.
How to deregister a company: step by step (Form 6010)
Once you have confirmed eligibility, the process itself is straightforward. Follow these steps in order.
- Confirm eligibility. Check every item on the ASIC checklist above. All members must agree in writing.
- Finalise your ATO obligations. Lodge any final activity statements and tax returns, cancel your GST and PAYG registrations, and cancel your ABN once everything is settled. Our how to cancel your ABN guide covers this step.
- Deal with remaining assets. Distribute or dispose of assets so the company’s holdings are worth less than 1,000 dollars, and close the company bank account.
- Lodge ASIC Form 6010. Submit the application to ASIC with the lodgement fee.
- ASIC publishes a notice. ASIC publishes a notice of the proposed deregistration on its Published notices website (insolvencynotices.asic.gov.au).
- ASIC deregisters the company. About two months after the notice is published, ASIC deregisters the company and it ceases to exist.
Getting the sequence right matters. Cancelling your ABN or bank account too early can make it harder to finalise tax or receive a last refund, so line up your ATO obligations before you close everything down.
Finalise your ATO obligations before you deregister
Deregistering with ASIC does not close out your tax affairs on its own; you handle those separately with the ATO, and ideally before you lodge Form 6010.
That means lodging your final tax return and any outstanding activity statements, paying or resolving any tax owing, cancelling GST and PAYG withholding registrations, and cancelling the ABN once the rest is done. If the company is owed a refund, make sure it is received before you close the bank account.
Leaving loose ATO ends is the most common reason a clean closure turns messy. A tax accountant to finalise your obligations can make sure the last return and cancellations are done in the right order, so nothing bounces back after the company is gone.
TIPOrder matters more than speed here. Finalise and lodge your last tax return and get any refund into the company account before you cancel the ABN or close the bank account. Reopening a finalised company to chase a stray refund is far more painful than waiting a few extra weeks.
What happens after a company is deregistered?
Once ASIC deregisters the company, it no longer exists as a legal entity. It cannot trade, sue or be sued, and it has no obligation to lodge or pay ASIC fees.
Any property the company still held at deregistration does not simply pass to the former owners. Under section 601AD of the Corporations Act 2001, the company’s own property vests in ASIC, while any property the company held on trust vests in the Commonwealth. This is exactly why the eligibility rules require assets to be under $1,000 and debts cleared beforehand: it avoids leaving value or liabilities stranded in an entity that no longer exists.
For directors, the key point is that the company is finished, but the record-keeping obligation is not. Section 601AD(5) of the Corporations Act 2001 requires the people who were directors immediately before deregistration to keep the company’s books for three years after deregistration, and the ATO expects tax records to be kept for five years from the date the relevant return was lodged. Keep whichever period is longer for the records in question.
Can a deregistered company be reinstated?
Yes, a deregistered company can be reinstated, but it is not a casual undo. Reinstatement happens either by application to ASIC in limited circumstances, or by court order, usually where someone can show the company should not have been deregistered or needs to exist again (for example, to pursue or settle a claim).
Because reinstatement is more involved than deregistration, it is far better to be certain before you close. If there is any real chance you will want the company again, keeping it dormant may be the safer choice, even with the annual fee. If you are confident you are done, deregistration is the clean ending.
How Sleek helps you close your company
Closing a company cleanly is mostly about doing the steps in the right order: finalising tax, clearing assets and debts, then lodging correctly with ASIC. Sleek does exactly this. As your ASIC agent, Sleek can prepare and lodge the deregistration, and coordinate the final tax work so your obligations are settled before the company is removed.
That takes the guesswork out of the sequence and the paperwork off your plate, so the company closes without a lingering fee or a missed lodgement coming back to find you. If you need to check any remaining compliance points first, the ASIC late fees guide and the compliance and governance FAQ hub are useful references.
Sleek handles the ASIC lodgement and your final tax so the company closes cleanly
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Frequently Asked Questions
Should I deregister or keep the company dormant?
Deregister if you are confident you are finished with the company, because it ends the annual review fee for good. Keep it dormant only if there is a realistic chance you will trade through it again, and you are willing to keep paying the fee to hold the name and structure. Dormant keeps costs running; deregistration stops them.
How long does deregistration take?
After you lodge Form 6010, ASIC publishes a notice on its Published notices website and then deregisters the company about two months later. Add the time you need beforehand to finalise tax, clear assets and get member agreement, so plan for a few months end to end rather than a few days.
What happens to the company bank account?
You should close the company bank account as part of the process, after any final refunds are received and assets distributed. Any money left in a company account at deregistration can vest in ASIC or the Commonwealth, so do not leave funds sitting there when the company is removed.
Do I still pay ASIC fees after deregistering?
No, once the company is deregistered it no longer exists, so the annual review fee and other ASIC obligations stop. That is the main financial reason to deregister rather than let a finished company sit registered, where fees and late penalties keep accruing.
Can I deregister with money still in the company account?
Only if the company’s total assets, including that cash, are worth less than 1,000 dollars. If there is more than that, distribute it to members or deal with it first, so the company is under the asset ceiling when you lodge. Deregistering with significant funds still held risks that money vesting in ASIC.
Do all shareholders have to agree to deregister?
Yes, voluntary deregistration requires that all members agree. If any shareholder does not consent, you cannot use the voluntary deregistration route and would need to resolve the disagreement or consider another process. This is one of the strict eligibility conditions ASIC checks.
Is deregistration the same as cancelling my ABN?
No. Cancelling your ABN ends your Australian Business Number with the ATO, while deregistration removes the company itself from the ASIC register. Closing a company usually involves both, done in order: finalise tax and cancel the ABN, then deregister with ASIC. They are separate steps with separate agencies.
