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Deregistered companies


Companies in Australia need to be registered with the Australian Securities & Investment Commission (ASIC).

You will need to keep the company’s registration details up to date with ASIC as well as with ANZ. 


What does it mean if your company is deregistered?

Deregistration of a company is when a company ceases to exist.

The company can no longer take actions (this includes the fact that a deregistered company can no longer act as a trustee).

Officeholders can no longer act for the company, ASIC can.

Company funds vest in (go to) ASIC.

Debt is not part of company funds.

If an account has a debit balance, the account may not be closed until ANZ has undertaken collections or enforcement action in relation to the amount owed to ANZ.

How can a company become deregistered?

A company may also be voluntarily deregistered (following an application by the company, any of its directors or shareholders or a liquidator) if that company has less than $1000 in assets and no outstanding liabilities.

ASIC may also decide to deregister a company in certain circumstances.

This isn’t a complete outline. More information on deregistration can be located on ASIC’s website here.

What happens to the company bank accounts if your company is deregistered?

If your company has been deregistered, ASIC tells banks how to deal with deregistered company accounts.

Depending on the situation, ANZ may freeze or close identified accounts that are held in the name of the company and officeholders may no longer have access to the account(s).

What about reinstatement of a company?

Once the ASIC process of reinstatement is complete, access to company accounts can be enabled.

ASIC requires ANZ and other banks to remit company funds (if any) to them. If funds have been remitted to ASIC before the reinstatement of the company, please contact ASIC or your advisers for next steps. 

What happens if a company is not re-registered?

If the company has not re-registered with ASIC, ANZ may take one or more of the following actions depending on the circumstances:

  • Take (or continue) enforcement action in respect of debt;
  • Remit company funds to ASIC (subject to any security arrangements or other rights to those funds that relate to debt); and
  • Close deregistered company accounts (as the company no longer exists, it’s in ANZ’s legitimate interests to do so).

More information on deregistered company bank accounts can be found on ASIC’s website here

What happens if company funds are sent to ASIC?

Once funds that have been remitted to ASIC on behalf of the deregistered company, these funds can then be found on ASIC’s MoneySmart website and may be claimed by the rightful owner by contacting ASIC.  ASIC may require the company to be reinstated before the funds can be claimed.

Information on how to do this can be found on the MoneySmart website here.

How do I re-register a deregistered company?

If you seek to re-register the company, please consult with your advisers and contact ASIC to re-register the company. Re-registration is an ASIC function and is not something that ANZ can do. 

Information on how to reinstate a company can be located on ASIC’s website here.

I have reinstated my company’s registration with ASIC, now what?

To advise ANZ of the re-registration, please provide any relevant information and contact us at with the following details:

  1. Company representative name:
  2. Name of Company:
  3. Date Re-registered:
  4. Account Number (if applicable):
  5. Contact Details: Email/Phone Number:

If I don’t want the deregistered company to be reinstated, can I request the account(s) be immediately closed?

Different people can apply to ASIC for reinstatement (for example, other officeholders and creditors). Therefore ASIC has instructed banks to allow up to 60 days for reinstatement, and ANZ will generally wait this time.  

If the company hasn’t been reinstated within 60 days from the date of notification of restrictions being applied to the account(s), the account(s) will be closed as soon as is practical and ANZ intends to send credit balances (if any) to ASIC's Unclaimed Monies Unit.

I am responsible for the payment of company debt for a deregistered company, and I am experiencing financial hardship.  What do I do?

To apply for hardship assistance, we’ll need income and expense information from you. For more information on the process please see Financial Hardship.

Any advice does not take into account your personal needs, financial circumstances or objectives and you should consider whether it is appropriate for you.

ANZ recommends you read the applicable Terms and Conditions and the ANZ Financial Services Guide (PDF) before acquiring the product.