Get ready for compliance report 2020
Each year, most businesses that are regulated by AUSTRAC must complete an annual compliance report telling us about your compliance for the previous calendar year.
The report covers important areas of anti-money laundering and counter-terrorism financing (AML/CTF) and helps us to understand how you have been complying with your obligations, and where you may need additional support or guidance.
The 2020 compliance report will be open from 1 January to 31 March 2021. You must submit your 2020 compliance report by 31 March 2021 to avoid penalties. The COVID-19 relief applied to the 2019 compliance report will not apply this year.
To make sure you’re set up to submit your report, log in to AUSTRAC Online and check your details are up to date including:
- compliance officer details
- business address
- contact email or phone number
- designated services provided.
Note you can only submit a compliance report if you have administrator access in AUSTRAC Online.
Do I need to complete a report?
Most businesses need to complete a report, however there are some exemptions. You don’t need to submit a compliance report if your business is one of the following:
- A gaming venue with a licence for 15 electronic gaming machines or less and you don’t provide any other designated services.
- An affiliate of a remittance network provider and you don’t provide any other designated services.
- An Australian Financial Services Licence (AFSL) holder where you arrange designated services for customers rather than providing designated services yourself.
For more information about the report check the compliance report information on our website.
If you need help accessing your AUSTRAC Online account, please call the Contact Centre on 1300 021 037.