Use this guide to assist completing your Annual Compliance Certificate, which is required to renew your Australian Credit Licence (ACL). Completing the certificate accurately and on time helps you remain compliant with ASIC obligations and avoid late fees.
What is the annual compliance certificate?
The Annual Compliance Certificate is an ASIC requirement that confirms you have met your credit licence obligations over the past 12 months. Form CL50 is used by credit licensees to lodge their annual compliance certificate and is a requirement in maintaining your Australian Credit Licence.
When you need to lodge your certificate
Your lodgement window is based on the anniversary date of your Australian Credit Licence, which is the date it was originally issued.
You must lodge your Annual Compliance Certificate within 45 days of this anniversary date.
Important: If any of your licence details need to be updated, you must make these changes before lodging your certificate.
Information you need to provide
When completing the certificate, you will be required to provide information covering the previous 12 months, including:
Updates to your business activities, including credit or credit intermediary activities and representatives
Details of any money held in trust, if you provide credit services
Dispute resolution and compensation information, including:
Number of accounts held
Number of complaints received
Any voluntary or proactive compensation programs run
Calculation of your annual compliance certificate fee
Confirmation that you are complying with your credit licence obligations
Declarations for all fit and proper people, including:
Current fit and proper people
Those who ceased in the past 12 months
Any applicable exceptions
Statements of personal information for all new fit and proper people
Notifications of any changes to responsible managers
Tip: Before submitting your annual compliance certificate, press print form (on the left-hand menu). If you miss this step, you'll need to contact ASIC to request a copy of your certificate.
Lodging your certificate
Refer to Annual compliance certificates for credit licensees | ASIC for additional details on completing and lodging your Annual Compliance Certificate.
If you lodge late
Late lodgement fees may apply if your certificate is not submitted within the required timeframe. Missing the deadline may also impact your licence standing.
Tip: Set a reminder ahead of your licence anniversary date to avoid late fees and compliance issues
Need help?
If you need help completing your Annual Compliance Certificate or understanding your compliance obligations, contact your Partnership Manager or email [email protected].