Business Name Renewal FAQ
Why do I need to renew my business name?
Renewing your business name ensures you can continue to operate your business under that name publicly. This includes using the name on your website, shop front, packaging, legal documents, and more. To maintain your business name, you must renew it every 1 or 3 years.
How can I renew my business name?
Renewing your business name is quick and easy! Just follow these steps:
Visit ASIC's 'Pay Now' service
Enter your ABN number where prompted
Select your preferred renewal period
Complete the payment using your credit card
To check your business name details, you can search the business name register here.
How long do I have to renew a business name?
You should renew your business name by the renewal date. If ASIC doesn't receive your payment, they will cancel your business name 2 months after the renewal date.
What is the difference between renewing my business name and company?
An Australian company is a legal entity with a name ending in 'Pty Ltd' or 'Ltd'. Companies have an annual review process that includes preparing a solvency resolution, paying a government fee, and updating company details.
A business name is what your business operates under. For example, 'Lawpath' is a business name, while 'Lawpath Operations Pty Ltd' is the entity name. To renew a business name, you need to pay a government fee and ensure your details are up to date.
Can I put my business name on hold?
Unfortunately, business names can't be put on hold. They must be renewed by the registration expiry date.
I need to update my business name details - how do I do this?
You can update your details through the ASIC Connect website.
Select your business name in the 'Lodgements and notifications'
Select 'Change holder details' and go
Select either 'Update name' or 'change address'
Proceed to update your details, select 'save' then 'next' to continue
Confirm the details and declaration
How do I link a business name to my ASIC Connect account?
When registering for a new ASIC Connect account, you can add your existing business names by:
Selecting 'Link a business with an ASIC Key'.
Entering the business type, your date of birth, your role with the business, and the ASIC key.
Where is my ASIC Key?
If you have not received your ASIC Key via your Lawpath business documents, you can request a new one to be sent to you from ASIC.
How do I cancel my business name?
ASIC will cancel your business name if they do not receive payment for renewal. This usually occurs around 2 months after your renewal date. If you would like to submit a business name cancellation, log in to your ASIC Connect account and lodge a cancellation (ASIC Instructions).
If my business name has been cancelled, how can I still renew it?
If your business name renewal date is within 6 months, you can request ASIC to restore the business name by submitting an online enquiry. If it's been over 6 months since its renewal date, you can register the business name with us with our business name registration.
I purchased a 1-year business name but it up for renewal, why is this the case?
If your business name is linked to a company, its renewal date aligns with your company’s annual review date. This makes it easier for you to manage both renewals simultaneously.
Why is Lawpath sending me correspondence about my business name renewal?
As your registered ASIC Agent, Lawpath is your first point of contact for business name renewals. We’re here to help you through the process.
How does the Business Compliance Plan help me with my business name renewal?
We’ll notify you of your upcoming renewal and guide you through the process. We’re here to provide information and support for your business name and company compliance.
My business name should be owned by another person, can I transfer this?
Yes, you can! See our article How to transfer a business name.