You need to make sure you pay your annual review fee on time and tell the ASIC when your details change. If not, you may be charged a fee for not paying your annual review fee, as well as a fee for not notifying ASIC of any changes.
Using a registered agent to manage your companies and act as the registered office for you definitely has benefits and they could help you to avoid having to pay these unnecessary late payment and late lodgement penalties.
The benefits of using a registered agent include:
- They will review the annual company statement and prepare the solvency minute;
- All ASIC correspondence is directed to the agent and this provides protection against ASIC penalties etc that can be levied when documents are not lodged or lodged late;
- Retention of appropriate documentation within the Corporate Register as required under the Corporations Act.
Who is a registered agent?
A registered agent is a person or company that is authorised to lodge company related documents with ASIC on behalf of a third party. The agent acts as an intermediary and usually helps a company meet their lodgement obligations under the Corporations Act 2001. Registered agents are generally your accountant.