After you receive your annual statement from ASIC, you should follow these steps:
- Check the invoiced annual review fee is correct and organise payment before the due date. Payment can be made via cheque or electronic payment such as BPay.
- Check all of the information on your company statement carefully. If there are any discrepancies, the details will need to be changed on ASIC's register via a form 484.
- Hold a directors meeting and prepare a solvency resolution. A solvency resolution is made by the directors of a company that, in their opinion, the company can or cannot pay back its debts when they are due. A negative solvency resolution will need to be lodged with ASIC via a form 485.