This guide shows the step-by-step AUSTRAC Online process to apply for the renewal of a registration.
Remittance services and digital currency exchange providers are registered entities.
Period of registration (all entity types)
Registrations are valid for three years from the date of registration, unless the entity has been removed, suspended or cancelled before this time.
Registrations expire at the end of the three year period unless a renewal application is submitted before the date when the registration ceases (expiry date).
- If you are a digital currency exchange provider, the earliest you will be required to renew your registration is 3 April 2021 (three years from the date any such entities are first required to register under the AML/CTF Act). Further specific guidance material regarding renewals for digital currency exchange Provider registrations will be made available in due course.
- If you are an Independent Remittance Provider you will receive an email from AUSTRAC 90 days before your registration expires advising how and by what date you need to renew your registration.
- If you are an Affiliate of a remittance network provider (RNP) you must contact your RNP to renew your registration.
- If you are an RNP, you must apply to renew the registration of your affiliates.
Remittance network provider
If you are an RNP you can apply to renew your affiliate's registration up to 90 days before the expiry date of the registration.
As long as an application for renewal of the affiliate's registration is submitted before the expiry date, the affiliate's registration will continue until AUSTRAC decides to renew, or refuse to renew, that affiliate.
If you do not submit an application for your affiliate’s renewal before the expiry date:
- the affiliate's registration will cease on the expiry date
- the affiliate will be removed from the Remittance Sector Register
- the affiliate will not be permitted to continue to provide remittance services (see Chapter 70.21 of the Rules)
Lapses in affiliate registration
If an affiliate's registration lapses but the unregistered affiliate wants to continue providing remittance services for you (the RNP): are required to complete the full registration process again by submitting a new application for registration of your affiliate.
Offence of transacting while unregistered
If remittance services are being provided through a registrable remittance network, both the RNP and the affiliate must be registered.
It is an offence for a RNP to provide registrable remittance network service if the RNP is not registered. Similarly, a remittance affiliate commits an offence if they purport to offer remittance services as part of a registrable remittance network operated by a RNP, but the affiliate is not registered.
Steps to take: renewing an affiliate registration
1. My Affiliates - filters
Log into your AUSTRAC Online account
Click on the 'My Affiliates' link
The 'My Affiliates' screen:
- allows you to download and submit a new affiliate application request
- provides various filtered views of your affiliate network.
Clicking on the filters will change the content of the table. This is a scrollable and sortable table and provides a link via the 'Legal Name' to the individual affiliate's general details screen.
The 'My Affiliates' screen also has a search field where you can enter a part or full name of an affiliate and easily locate the matches within the current filter.
You can also export all of your affiliate details to a CSV file.
2. My Affiliates: 3 to 6 month renewal projection
- Check the 'registrable details' are current and correct before submitting a renewal request for your affiliates.
- The screen shows your affiliate registrations that are due in the next three to six months, so you can prioritise these activities.
- This gives you a full three months to conduct any necessary due diligence before the affiliate registrations move into the 90 day renewable period.
- The '3 to 6 month renewal projection' screen contains a graph and table (see below) that allows you to view an affiliate's legal name.
- You can then go directly to a registration update form, registration removal form or the Reporting Entities Roll removal form.
3. Using the 3 to 6 month renewal projection screen
- Expand the 'My Affiliates' menu and click '3 to 6 month renewal projection'.
- The system displays a page titled 'Projection of Affiliate Renewals 3 to 6 months prior to expiry date'.
- By default, the graph highlights the first seven days. The details of the affiliate registrations within the shaded area will be included in the table below the graph.
- You can drag the slider left or right to expand or contract the selection of affiliates.
- Moving the slider will select a date range and you can observe the table content change.
'Days until expiry' has markings for 91, 120, 150 and 180 days. Each vertical 'bar' represents the number of affiliate registrations that will expire on that one day.
4. Using the table to complete a maintenance task
- The table gives you the ability to select a form for an affiliate, including:
- Edit Registration – this form will prepopulate the information last submitted by the RNP and can be updated and submitted for processing by AUSTRAC.
- Registration Removal – this form can be submitted to AUSTRAC to terminate the affiliate registration. When this is processed by AUSTRAC you will be notified in writing and the registration will no longer be visible on the graph or table.
- Remove affiliate from Reporting Entities Roll (this option is only available if you enrolled the affiliate) – this form can be submitted to AUSTRAC to remove the affiliate from the Reporting Entities Roll, which also terminates the affiliate's registration. When this is processed by AUSTRAC you will be notified in writing and the registration will no longer be visible on the graph or table.
- The affiliate registrations will remain visible on the screen while the form is being processed by AUSTRAC. Once processed, the affiliate registration will either be removed or will 'progress' to the renewals period.
- Once the affiliate has been confirmed as removed it will not be possible to change or renew the registration.
5. My Affiliates – Renewals
A renewable affiliate registration is one that is due to expire within the next 90 days.
The screen will present a graph and a table (see below) as an easy way to visually display the progression of the registrations towards expiry.
5.1 Using the Renewals screen
The affiliate renewal request form has a restriction to the number of affiliate registrations that can be submitted via the one form. An error will be display if you have attempted to submit over the limit.
- Expand the 'My Affiliates' menu and click 'Renewals'
- At times, you may receive a warning that there are affiliates due to expire 'Today'. The warning is clearly identifiable and the message advises how many affiliate registrations will expire on that day. If there is a warning message of this nature, ensure you action these affiliate renewals immediately.
- The horizontal axis 'Days until expiry' has markings for Today, 7 days, 30 days, 60 days and 90 days. Each vertical bar represents the number of affiliate registrations that will expire on that day. When the graph populates the slider will default to the first 7 days.
- You can drag the slider to the left or right to expand or contract the selection of affiliates.
- Moving the slider will populate the table below the graph. Select a date range that suits your need and observe the table content change.
5.2 Using the table to select renewable registrations
- When the table is populated, select one or many registrations for renewal by clicking the check box on the left hand side of each registration expiry date. The table is presented in expiry date order – with the shortest renewal period at the top of the list.
- The number of selections made is displayed in a blue button on the bottom of the screen. When you have made your selections and you are satisfied that renewal can be made, click the button below the table to renew the selected registrations.
- The following screen requires confirmation that you are ready to renew. If you decide you have incorrectly selected an affiliate for renewal there is a 'Back' button under the table to return you to the 'My Affiliate – Renewal' screen.
- Clicking on the 'Continue to renewal form' button on this screen will produce a prepopulated affiliate registration renewal request form (ATRC1021). Note that the affiliate renewal request form has a restriction to the number of affiliate registrations that can be submitted via the one form. An error will be display if you have attempted to submit over the limit.
- Please carefully read all sections of the form. Complete each section and submit the form. If you have not completed a section of the form, an error message will appear and prevent you from submitting the form until this has been fixed.
- Upon successfully submitting the affiliate registration renewal request form you will be issued with a reference number and an opportunity to download the receipt. It is suggested that you download and retain a copy of the receipt for your records.
- Upon closing the form, the screen 'My Affiliate – Renewals' will display a button 'Return to Renewals' which will allow you to return to the renewals screen.
- You will be able to return to the 'My Affiliates – Renewals' screen which includes the graph. The affiliates that you have already submitted a registration renewal request form for will not be visible on the graph or on the table below the graph area. You cannot submit multiple renewal requests for an affiliate registration.
- The RNP and affiliate AML/CTF compliance officer will receive written advice of the outcome of the request for renewal for each registration.
AUSTRAC can assist reporting entities, their staff and the public in providing general information relating to the AML/CTF Act and AML/CTF Rules.
Enquiries can be directed to the AUSTRAC Contact Centre:
- email email@example.com
- phone 1300 021 037 (a local call within Australia).
The information contained in this document is intended only to provide a summary and general overview on these matters. It is not intended to be comprehensive. It does not constitute, nor should it be treated as, legal advice or opinions. This document may contain statements of policy which reflect AUSTRAC's administration of the legislation in carrying out its statutory functions.
The Commonwealth accepts no liability for any loss suffered as a result of reliance on this publication. AUSTRAC recommends that independent professional advice be sought.
The information contained herein is current as at the date of this document.