One month extension of reporting deadlines for unlisted entities

The Australian Securities and Investments Commission (ASIC) announced in Media Release MR21-323 that it would again extend reporting deadlines by one month for entities with reporting dates from 24 December 2021 to 7 January 2022 (inclusive), but only for unlisted entities. This is because of staff shortages experienced by companies and their auditors.

The one month extension is only for unlisted entities reporting to ASIC under:

  • Chapter 2M of the Corporations Act 2001
  • Chapter 7 of the Corporations Act 2001 (AFS licensees).

The relief does not apply to registered foreign companies.

Annual reporting deadlines

The revised Chapter 2M annual reporting deadlines are as follows:

Type of entity

Usual ASIC deadline

MR21-323 extended deadline

Unlisted disclosing entity

3 months

4 months

Unlisted registered scheme

3 months

4 months

Other unlisted public company

4 months

5 months

Proprietary companies

4 months

5 months

The revised Chapter 7 annual reporting deadlines for AFS licensees to lodge their profit or loss statement, balance sheet and associated information with ASIC are:

Type of entity

Usual ASIC deadline

MR21-323 extended deadline

Unlisted AFS licensees
– body corporates that are disclosing entities/registered schemes

3 months

4 months

Unlisted AFS licensees
– body corporates that are not disclosing entities/registered schemes

4 months

5 months

Not body corporates

2 months

3 months

Half-year reporting deadlines

Unlisted disclosing entities (companies and registered schemes) also have an additional one month to lodge their half-year financial report with ASIC, i.e. 75 days plus month rather than the usual 75 day deadline.

Other deadlines extended

Deadlines are also be extended by one month for sending reports to members, public companies holding their AGMs and compliance plan audits for registered schemes.

‘Grandfathered’ large proprietary companies

Large ‘grandfathered’ proprietary companies will retain their grandfathered status but must disclose in their directors’ report that the company has applied the ASIC relief to report one month after the normal reporting deadline.

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