Last updated on June 9, 2026
ASIC Annual Review Fee: What It Is, How Much It Costs, and Why It Matters for SMSFs
The Australian Securities and Investments Commission (ASIC) is a government monopoly as the sole company register in Australia. As part of their oversight role, they charge an annual fee to every company in Australia. If this fee is not paid, then they apply penalties which are far higher than the initial bill and almost impossible to get waived. If those too aren’t paid, then the company will be compulsorily shut down by ASIC and cease to legally exist. For SMSFs who have a corporate trustee, which is strongly recommended by the industry as a whole, then this annual fee is a part of life. Luckily for super funds ASIC does provide a discounted fee of only $70 for the 2027 financial year (it goes up by a couple of dollars each year) known as the Special Purpose Company annual fee.
Why a Corporate Trustee
Before we go into the frequently asked questions around the ASIC Annual Review fees it is worth exploring why we always recommend clients have corporate trustees and thus have to endure these fees in the first place. The benefits are many and varied but the most important ones in our opinion include:
- Single Member Funds require a second individual trustee without a corporate trustee.
- Better SMSF Estate Planning when a member/trustee passes away.
- Separation from personal assets making it easier to deal with the auditor and show all assets are in the name of the fund.
- Protection against ATO penalties.
Without going into too much detail, we will briefly explore each of the points above. To start with, corporate trustees are widely used by funds that have a single member to reduce fraud risk. This is because you cannot legally have a single individual trustee for an SMSF. So, if I want to start an SMSF by myself, I am required to give someone else trustee powers meaning they have access to my fund’s bank account and can invest on my behalf. This risk when balanced against a $70 annual fee from ASIC seems like a no brainer that you wouldn’t give someone else access to your finances, be required to get signatures on all documents from them etc. to avoid such a trivial cost.
SMSF Estate planning is another key consideration as an unfortunate fact of life is that most couples with a Self Managed Super Fund will eventually have a single member fund when the first spouse passes away. This means that at that point in time the grieving widow or widower has to run around at the worst time of their life and give someone else control of their finances to stay compliant in having two individual trustees, or to quickly set up a company and change the records for every asset. It is important to note many registries such as Land Titles Offices and exchanges will list the trustee not just the SMSF on the titles, which means having to contact each one, one by one, and get them to update the trustee details. Again, all of this admin time and effort can be avoided for a $70 annual fee to ASIC.
The fact that many asset holders will list the trustees not just the name of the super fund also makes it harder to prove the separation between personal and fund assets when the members names are listed rather than the company causing audit issues. Trustees also need to remember that in circumstances where a breach has occurred, they are liable for penalties to the ATO, it can be much nicer to have a company liable for those penalties rather than yourself personally depending on the quantum and circumstances.
FAQ around ASIC Annual Review Fees
What Is the ASIC Annual Review Fee?
The ASIC Annual Review Fee is a compulsory yearly charge from the Australian Securities and Investments Commission to keep a company registered in Australia. It is totally separate to any tax levied by the ATO and will be charged regardless as to whether the company is trading or not. There are different rates for different types of companies which increase by a few dollars each year. For the 2027 financial year the rates are:
- $70 for a special purpose company (This is where SMSFs sit)
- $342 for a proprietary company (A trustee for a Bare Trust gets charged here)
- $65 for a special purpose company (public, not applicable to SMSFs)
- $1,591 for a public company (Definitely not applicable in the SMSF space)
Why ASIC Charges an Annual Review Fee
They are legally allowed to charge fees under the ASIC Supervisory Cost Recovery Levy Act 2017 and the Corporations (Review Fees) Regulations 2003. They are the government owned monopoly in Australia being the only company register so they basically get to charge whatever the government allows them too which helps defray ASIC’s costs and other activities reducing that cost burden on the government/taxpayer by transferring it to the holders of companies.
Who Must Pay the ASIC Annual Review Fee?
The Self Managed Super Fund can pay the fee on behalf of its corporate trustee, and the cost thus becomes an expense of the SMSF claimed on its tax return. This is because the company’s sole purpose is to act as the trustee of the fund and therefore the costs associated with its existence are costs applicable to the SMSF itself.
Special Purpose Company Annual Review Fee
A company that has the sole purpose of being the trustee of an SMSF enjoys a lower fee from ASIC than general trading companies, or corporate trustees of other types of trusts such as family or bare trusts. This fee is reduced from the standard $342 to only $70 per year making it very affordable for SMSF investors. It is important to remember that this company may never, for any period of time, be used for any other purpose. It is not entitled to an ABN (Australian Business Number) as it is not able to be used to carry on a business and also should not have a Tax File Number as it is not a separate reporting entity.
When Is the ASIC Annual Review Fee Due?
The yearly charge will always fall due on the annual review date which is the anniversary of the original registration date of the company. For example, if we help you setup your corporate trustee on the 1st July then you will get a bill from ASIC around the end of April due by the 30th June.
What Happens If the Fee Is Not Paid?
ASIC will automatically apply late penalties which are very hard to get remitted, ASIC is notoriously tight fisted when it comes to remitting anything. If these fees and penalties are still not paid, then ASIC will automatically de-register your company and strike it from the list.
Impact on SMSFs if the Corporate Trustee Is Deregistered
An absolute mess follows as if the trustee company is deregistered prematurely as technically the fund has no valid trustee creating a compliance headache and potential for audit contraventions, ATO action and administrative penalties. The way this is fixed is to contact ASIC, pay them all the overdue fees and penalties and complete the form to get the company re-registered as quickly as possible. This process is handled by your SMSF Accountant acting as your ASIC Agent.
Does my accountant charge me extra for a Corporate Trustee?
No, there is really no extra work for the accountant except forwarding on a single piece of paper once a year being the annual review documents from ASIC. These are always sent electronically to your accountant who acts as your ASIC agent. It is important to note that ASIC agents cannot choose for ASIC to send you paper notices and you must be prepared to receive these digitally. Providing your fund Registered Office and ASIC Agency services are all included in our fixed SMSF annual fees.
Conclusion – Dealing with ASIC Annual Review Fees
SMSF Australia will act as your ASIC Agent and Corporate Registered Office without charge as part of our fixed annual fees. Your annual statement, including fees from ASIC, are delivered digitally to your ASIC Agent which we will then forward on via email. It is important to put a diarised note or alarm for yourself to make sure you keep an eye out for the annual fee each year, so it isn’t missed.
If you need any help with your existing company, setting up a new corporate trustee or monitoring ASIC obligations please reach out to one of our friendly team for assistance.