If your company no longer has any business activity, then it is important to deregister your company with ASIC to relieve yourself of any obligations as a director or officeholder.
Requirements
In order to successfully apply for voluntary deregistration with ASIC, you must meet the following conditions:
All members of the company agree to deregister
The company is not conducting business
The company's assets are worth less than $1,000
The company has no outstanding liabilities (e.g. debts)
The company is not involved in any legal proceedings
Lawpath Deregistration Service
Lawpath can help facilitate the deregistration today! Please follow the steps below:
Complete the form here or select 'ASIC Company Change' from the registration options in your Lawpath account.
Pay the deregistration fee
If you have card details on file with Lawpath then we will automatically charge that card
If you don't have details on file or tell us that you'd like to use a different card, we will send an invoice to your email address to pay the fee
Complete & sign the member's resolution form sent to your email address
Once this has been received, we'll take care of everything else & send you the documentation as soon as it has been finalised (within 1 - 2 business days)
Sole Trader & Partnership ABNs
This information and the services provided by Lawpath are ceasing operations for a company (PTY LTD). If you a sole trader or have a partnership ABN and would like to cease operations for that business, you will need to reach out to the ATO directly.
FAQ
Do I need to pay a fee to deregister my company?
Yes, ASIC does charge a government fee to deregister the company as well as any outstanding government fees attached to the company.
Lawpath charges $259 for the deregistration service which includes the ASIC government fee & all accompanying documentation (any additional debts/fees will be incurred on top of this fee).
On our ASIC Compliance Plan, you will only need to pay ASIC fees. Find out more here
Do I need to cancel my company ABN or business name registration as well?
As long as the ABN/business name is tied directly to your company then there is nothing further you need to complete once the deregistration is finalised. The ABN and business name will become effective from the date of deregistration of the company.
How long does it take to deregister my company with lawpath?
Once we receive the signed documentation, we will process the deregistration within 1 - 2 business days (please reach out if you require expedited service of your company deregistration.
Once Lawpath lodges the form with ASIC, it may take up to two weeks for the deregistration notification to be published. Two months after the notice has been published, the company will be deregistered.
What does the status 'strike-off action in progress' mean on the ASIC lookup?
This means that the company deregistration is currently being deregistered. This notice typically appears for up to two months and then once it has been finalised the status will read as "deregistered"
What documents are required to deregister my company?
ASIC deregistration form
Members resolution signed by officeholders to confirm the cessation of the company
Do I need to pay outstanding ASIC fees?
Yes, in order to deregister your company with ASIC all outstanding fees need to be paid
What happens if I don't pay?
If you take no action on your company renewal and do not process a Voluntary Deregistration, you will continue to incur late fees and penalties on your company. ASIC may deregister your company automatically after 2 years of no activity.
If you want to reopen the company in the future, all fees will become payable.