Director changes & ASIC records
Updated: 8 December 2019
A director resigns, you need to add a new director either on an ongoing basis or for a specific time period, either way, you will need to record the change internally and you will need to let ASIC know. Here are our tips.
Too busy to read on? check out our 35 second summary video below.
Here’s what you need to know to make the changes.
1. ASIC's online portal
You can change directors, appoint additional or alternate directors through ASIC's online portal.
2. Time frame
You need to notify ASIC within 28 days of the date of the change so you can avoid penalty from ASIC.
3. Get consent
You need consent from the prospective director in writing.
4. Keep a register
You need to keep a register of your current office holders for internal record keeping and also in case ASIC inspects your records.
5. Age & residence
A director must be at least 18 years old and your company must have at least one director that lives in Australia.
6. Making the changes
Below are some screenshots of the steps to make the changes. You will need your unique online portal access code, contact ASIC if you don’t have this. You can learn more about portal access here.
To record director changes with ASIC, you will need to access the online portal on the right hand side of the ASIC's homepage.
Next, you need to enter your Australian Company Number aka ACN.
Click 'start new form' on the right hand side of the screen.
You will find a list of all the forms that you can complete via the online portal.
To make director changes, click on form 484.
Below are the key steps for recording ASIC changes for director appointments and resignations:
- Get access to the ASIC online portal.
- Discuss director changes with the person affected.
- Record the changes internally.
- Record the changes on ASIC's online portal using form 484.
- If in doubt, contact a business lawyer.
Do you have any questions about making ASIC changes for directors? Be sure to leave them below.
I wish you success in your ventures!