What is Form 205?
Form 205, known as the Notification of Resolution, is a document that companies in Australia must submit to the Australian Securities and Investments Commission (ASIC) when there are significant changes, such as a change in the company's name, type, or constitution. Filing this form is crucial for keeping ASIC informed about these updates, ensuring that company records remain current and compliant with legal requirements. This process helps to uphold transparency and accountability in corporate activities, which is vital for maintaining trust within the business community.
What is Form 205 used for?
Form 205 is important for companies in Australia. It serves several key purposes:
- Notify ASIC of changes: This includes changes like a company name or type (e.g., from Pty Ltd to Limited).
- Lodge changes to constitution: Submit updates to your company's governing documents.
- Update company status: Inform ASIC about changes in company class or type, such as moving from a public to a proprietary company.
How to fill out Form 205?
- 1
Pass a resolution at a properly convened meeting with a quorum.
- 2
Record the resolution in the company's records within one month.
- 3
Sign the minutes of the meeting by the chair or the next meeting's chair.
- 4
Lodge Form 205 with ASIC, including details of the resolution and supporting documentation.
Who is required to fill out Form 205?
Current officeholders or external administrators of a company are responsible for completing Form 205.
After filling out Form 205, the company submits it to the Australian Securities and Investments Commission (ASIC) to officially notify them of changes, such as a shift in company type or business name.
When is Form 205 not required?
Form 205 isn't required for minor administrative changes or routine decisions that don't significantly affect a company's structure. Sole shareholders passing resolutions without a meeting also do not need this form. Additionally, internal resolutions not needing ASIC notification under the Corporations Act 2001 can forgo Form 205.
When is Form 205 due?
The deadline for Form 205, Notification of Resolution, is within 14 days of passing the resolution. If you submit it within one month after this period, a late fee of $65 applies. For submissions more than a month late, the fee increases to $270. Make sure the form is machine printed or clearly handwritten, and include a receipt if requested.
How to get a blank Form 205?
To get a blank Form 205, simply visit our website. The Australian Securities and Investments Commission (ASIC) issues this form, and we have a blank version ready for you to fill out in our editor. Remember, our platform helps with filling and downloading, but not filing forms.
How to sign Form 205?
To sign Form 205, ensure that a current officeholder or external administrator of your company provides a handwritten signature, as this is the only accepted method. Electronic or digital signatures will not be valid. After filling out the form using PDF Guru, you can download it for your records. Always check for the latest updates to ensure compliance with any changes in requirements. Remember, PDF Guru does not support submission of forms.
Where to file Form 205?
To submit a Notification of Resolution, Form 205, you can lodge it either online through the ASIC portal or by mail. Ensure all required information is accurate before proceeding.
For mail lodgement, remember to include payment via cheque or money order and attach any necessary supporting documents, like meeting minutes and the special resolution.
