Fixing mistakes in a new company. ASIC Form 492 – Request for correction

Fixing mistakes in a new company. ASIC Form 492 – Request for correction

If you make a mistake on a form that you have already lodged with ASIC, you can lodge an amendment. This is by preparing and lodging a Form 492 – Request for correction. Use this form if you or your adviser find a mistake on the form, and want to notify ASIC to correct the mistake.

For example, use this Form 492 if you have newly incorporated a company: Form 201 “Application for Registration as an Australian Company”. But find:

  • that you put in the incorrect information on your application from a new company;
  • ASIC has not understood what you wanted; or
  • ASIC made a mistake.

Can I telephone ASIC and correct the mistake?

If you notice a mistake in your new company within 24 hours of its registration, you may be able to fix the mistake by calling ASIC on 1300 300 630 or 61 3 5177 5407 (outside of Australia).

But, in most cases, a Form 492 – Mistake Correction form is required.

Further, generally only typographical errors or misspelled words are accepted over the telephone. In particular, corrections to dates are not accepted over the telephone. This is because they require supporting documents.

Fixing a spelling error in the new company name

Telephone ASIC, and find out the best way to proceed. ASIC may allow a 492 to be lodged to correct this.

However, usually, a Change of Name is required. ASIC charges you additional money to change a company name.

Examples of common mistakes when registering a new company

For a new company, Form 492 can be used to fix, things like:

  • Address discrepancies
  • Incorrect name spellings (e.g. correction of shareholder name)
  • birth date details
Form 492 to correct mistakes in a new Pty Ltd company with ASIC

It does not matter who made the error on the ASIC Form 201

Form 492 is required regardless of whether the ‘error’ is made by:

  • the company (ie, the person or adviser completing the original Form 201 “Application for Registration as an Australian Company”); or
  • ASIC in transcribing it onto its database.

Form 492 requires:

  • Company name / ACN
  • Lodging party details
  • Details of the original document – form number e.g. Form 201 if a new company and date
  • Details of correction
  • dated and signed by a director or Company Secretary.

Must be lodged ‘manually’ for Form 201 new company corrections

This Form may be lodged manually or electronically.

However, Form 494 cannot be lodged electronically if it is being used to correct details for Form 201 “Application for Registration as an Australian Company”. In that case, it is lodged manually.

A new company is incorporated via a Form 201 (to start a new company). Forms 201 are lodged electronically. However, the Form 492 must still be lodged manually despite the fact that the Form 201 is lodged electronically.

Once you have completed the form, print the signed documents and mail to:

Australian Securities and Investments Commission
Post Office Box 4000
Gippsland Mail Centre VIC 3841

Form 492 cannot be used to fix ‘omitted’ events

asic corporate key for a new Pty Ltd company

Form 492 cannot be used to notify of ‘omitted’ events. For example, you forgot to name all the directors. In those cases, a new document advising the change is lodged. This is done electronically. But, for a new company, this is after you get the ASIC Corporate Key posted to you by ASIC. You need the ASIC Corporate Key so you can log on and make those changes.

No lodgement fee for a Form 492

There is generally no lodgement fee for Form 492.

To correct a mistake in a “date” for the new company

Appropriate supporting documents are required to correct an incorrect date.

“Documents” include an email from a client to the adviser, a copy of any company record (minutes, resolution, file note, memorandum, letter, etc) evidencing the company’s decision for corrected date.

The copy of the information provided as evidence to support the correction to a date is duly authorised by a director or Company Secretary of the company.

If the change relates to something like a director’s date of birth, a certified copy of the birth certificate should be lodged with the Form 492.

In summary then, to correct the date on which the company’s Registered Office changed, a Form 492 should be used and be accompanied by an extract from the relevant board minutes where it was resolved to relocate the Registered Office.

Can ASIC refuse to act on the Form 492 to fix the mistake?

Of course. ASIC can decline to act on your Form 492. There is no guarantee that ASIC accepts or acts to correct the mistake.

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