ALERT: ASIC extends deadlines for 30 June 2022 unlisted entity financial reports

On 22 July 2022, ASIC announced that it will grant a one month extension to the deadlines for unlisted entities to lodge their financial reports for 2022. It applies to companies with balance dates from 24 June 2022 to 7 July 2022 – in other words the usual 30 June balance date. The extension does not apply to ASX listed entities.

The Corporations Act requires unlisted public companies and large proprietary companies to lodge their financial statements within 4 months of the end of their financial year. They will now have 5 months (to the end of November 2022). Listed companies will continue to be obliged to lodge within 3 months.

The announcement is one of many in the last two years seeking to relieve the pressures created by COVID-19 and provide smaller entities adequate time for auditing and reporting. ASIC has acknowledged that many company and audit firms are currently running at reduced capacity due to a variety of factors including travel restrictions, increased staff resignations and absences due to COVID-19 case numbers. An instrument extending the deadlines is expected to be registered by ASIC by the end of July 2022. This instrument will amend the ASIC Corporations (Extended Reporting and Lodgement Deadlines – Unlisted Entities) Instrument 2020/395.


    1. The deadlines for lodging full year financial reports, directors’ reports, and auditor’s reports for:
      1. unlisted disclosing entities and unlisted registered schemes have been extended from three months to four months; and
      2. all other unlisted entities have been extended from four months to five months.
    2. The deadlines for lodging half-year financial reports, directors’ reports and unlisted disclosing entities’ audit/review reports have been extended from 75 days to 75 days plus one month.
    3. The deadlines for lodging profit and loss and balance sheets for:
      1. unlisted AFS licensees that are bodies corporate and also disclosing entities or registered schemes have been extended from three months to four months;
      2. unlisted AFS licensees that are bodies corporate but not disclosing entities or registered schemes have been extended from four months to five months; and
      3. AFS licensees that are not bodies corporate have been extended from two months to three months.

For entities who do not fall into the above categories, ASIC will consider relief for other entities and balance dates on a case-by-case basis, where necessary. ASIC have not commented on whether they will provide similar relief to ASX listed entities who apply for specific relief.


The following relief will be available to entities using the extended deadlines:

  1. Similar extensions will be available for sending reports to members. However, some deadlines may also operate by reference to the next AGM date.
  2. Unlisted public companies will be given up to 6 months after year end to hold their AGMs. However, directors must still comply with their duties in deciding whether this is appropriate.
  3. Deadlines for compliance plan audits for registered schemes will also be extended by a month.

Where a grandfathered proprietary company uses the extended deadline relief, it will continue to hold its grandfathered status. The directors’ report must disclose that the company has used ASIC relief to report no later than one month after the usual deadline.


For further information regarding the above, please contact the author or any member of our Corporate & Commercial team(s).


This information and the contents of this publication, current as at the date of publication, is general in nature to offer assistance to Cornwalls’ clients, prospective clients and stakeholders, and is for reference purposes only. It does not constitute legal or financial advice. If you are concerned about any topic covered, we recommend that you seek your own specific legal and financial advice before taking any action.