If you run a company in Australia, you must be familiar with the ASIC Form 484. This form is a critical document that companies must file with the Australian Securities and Investments Commission (ASIC) to update their company details, including changes to their share structure and officeholders. In this Business Kitz blog post, we will discuss what ASIC Form 484 is and why it’s important, as well as provide an overview of the form’s different sections and how to complete it.
What is ASIC Form 484?
ASIC Form 484 is a document that companies in Australia must file with ASIC when they want to make changes to their company details. This form ensures that ASIC has the most up-to-date information about your company, which is critical for maintaining compliance with legal requirements.
Form 484 is divided into various sections, each of which is designed to capture specific information about your company. These sections include:
1. Company Details:
The first section of the ASIC Form 484 is the Company Details section. This section captures basic information about your company, including your company’s name, Australian Company Number (ACN), and Australian Business Number (ABN).
You’ll also need to provide your company’s registered office address and contact details, including email and phone number. If any of this information changes, you must update it on this form to ensure ASIC has accurate information about your company.
2. Changes to Company Details:
The second section of ASIC Form 484 is the Changes to Company Details section. This section allows you to update various aspects of your company’s details, including:
- Change of company name: If your company’s name changes, you’ll need to provide ASIC with the new name and the date on which it changed.
- Change of registered office: If your company’s registered office address changes, you’ll need to provide ASIC with the new address.
- Change of principal place of business: If your company’s principal place of business changes, you’ll need to provide ASIC with the new address.
- Change of officeholders: If there are any changes to your company’s officeholders (such as directors or secretaries), you’ll need to provide ASIC with the details of the new officeholders and the date they were appointed.
- Change of share structure: If there are any changes to your company’s share structure, you’ll need to provide ASIC with the details of the changes, including any new share classes, the number of shares issued, and the price paid for the shares.
The Members section of ASIC Form 484 is where you provide information about your company’s members (shareholders). You’ll need to provide the name and address of each member, as well as the number and class of shares held by each member.
The Officeholders section of ASIC Form 484 is where you provide information about your company’s officeholders, including directors, secretaries, and other officers. You’ll need to provide the name and contact details of each officeholder, as well as their position in the company.
The Shares section of ASIC Form 484 is where you provide information about your company’s share structure. You’ll need to provide the number of shares on issue and the amount paid up on each share.
Why is ASIC Form 484 Important?
There are several reasons why ASIC Form 484 is important. Firstly, it’s a legal requirement for companies to keep their registered details up to date with ASIC. Failure to do so can result in fines and penalties. In some cases, failing to notify ASIC of changes to a company’s details can also affect the company’s ability to enter into contracts or secure financing.
Secondly, keeping your company’s details up to date with ASIC helps to ensure that the information on the ABR is accurate and up to date. This is important for a number of reasons, including:
- Ensuring that customers and suppliers can find your company’s details easily
- Helping to prevent fraud and identity theft
- Facilitating the smooth running of the Australian financial markets
Finally, completing and lodging a Form 484 is a relatively simple process that can be completed online. This means that there’s no excuse for failing to keep your company’s details up to date with ASIC.
How to Complete ASIC Form 484:
Completing ASIC Form 484 is a relatively simple process that can be completed online using ASIC’s online portal. To complete the form, you’ll need to have access to the following information:
- Your company’s ASIC key or ACN
- The name and contact details of the person completing the form
- Details of the change being made, including the effective date of the change
- The details of any new officeholders or members (if applicable)
Once you’ve gathered all the necessary information, you can log into ASIC’s online portal and complete the relevant Form 484. You’ll need to pay a lodgement fee, which varies depending on the type of change being made.
It’s important to note that some changes to a company’s details may require additional documentation to be lodged with ASIC. For example, changes to a company’s share structure may require a copy of the company’s new constitution to be lodged with ASIC.
The ASIC Form 484 is an important document that allows companies to update their registered details with ASIC, and a failure in lodgement can result in fines and penalties. If you have any questions regarding the ASIC Form 484 or any other legal matters, please do not hesitate to contact our sister company, Legal Kitz. The Legal Kitz team are happy to assist you. You can request to book a free 30-minute consultation with their experienced and highly qualified team via our website now.
Additionally, you can also check out the Business Kitz subscription service today to access our full range of legal, commercial and employment documents to begin your business with a solid foundation that ensures compliance.