Deregistered companies and our obligations

When a company becomes deregistered, opens in new window, it can no longer take actions or act as a trustee, and officeholders are unable to act for the company. 

If a company has less than $1,000 and no outstanding debts, they may voluntarily become deregistered via an application to ASIC. 

In some cases, ASIC may decide to deregister a company, opens in new window, even if they have not applied for it. 

Actions we must take

 All companies in Australia must be registered with the Australian Securities and Investment Commission (ASIC). 

We must comply with the Australian Securities and Investment Commission (ASIC) instructions when dealing with deregistered companies. This might include the following actions.

• Placing blocks on or closing accounts that are held in the company’s name.
• Take actions to collect any debts that are outstanding before company accounts can be closed.
• Transfer all company funds (excluding debts) to ASIC if there are funds in the company’s name.

How to claim company funds

Any funds that have been sent to ASIC on behalf of a deregistered company can be found through a search on ASIC’s MoneySmart website, opens in new window. 

These funds can be claimed by the owner by following the instructions on the MoneySmart website, opens in new window.

Claiming funds that don’t belong to the company

Any funds in the company accounts that did not in fact belong to the deregistered company are not transferred to ASIC.  This could include, for example, personal funds that were paid into the deregistered company’s account following deregistration. 

If you need to claim funds that do not belong to the deregistered company, please contact us promptly and provide supporting documentation.  

What to do if you re-register your company

A company can be reinstated and re-registered, opens in new window with the Australian Securities and Investment Commission (ASIC).

Check the ASIC portal, opens in new window to ensure the status of your company appears as ‘registered’ before contacting us.

Once your company is re-registered:

• Let us know by emailing deregcompanies@nab.com.au and include your reference number (DRCR-*****) in the email subject line or call our team on 03 9322 6699. 
• We’ll need to verify the details we hold about your company.  This process will take up to seven business days to complete.  
• We may need to request additional documentation.
• When the verification is complete, we’ll be able to restore access to any company accounts that remain open. 
• If the company funds were transferred to ASIC before a company re-registers, the company will need to contact ASIC. 

Appointment of a new trustee 

If the deregistered company held its assets on trust (for example, a trustee company for a self-managed superannuation fund), you may be able to arrange for the appointment of a new trustee. 

You should seek professional advice on this and advise us as soon as possible if a new trustee is appointed. You’ll also need to provide documentation that demonstrates a valid appointment.