Do accountants and bookkeepers need to lodge the AUSTRAC annual compliance report (AML/CTF Act s 47)?

Lodge the AUSTRAC annual compliance report (AML/CTF Act s 47). Section 47 of the AML/CTF Act requires a reporting entity to give the AUSTRAC CEO, within the lodgment period, a report on its compliance with the Act, the regulations and the AML/CTF Rules during the reporting period (Rules s 9-9). AUSTRAC has moved the reporting period to financial years: the next period is 1 July 2026 to 30 June 2027, and reports are lodged between 1 July and 30 September each year.

Trigger: Being a reporting entity at any time during the reporting period.

Rules Mate runs its applicability engine across 9 business structures and 6 size bands for each of the 35 industries it maps. For 27 of those industries the answer for "Lodge the AUSTRAC annual compliance report (AML/CTF Act s 47)" is no. Accountants & bookkeepers is one of the 8 where the answer is different: yes.

The deciding fact for accountants and bookkeepers: Tranche 2 industry (Accountants & bookkeepers) — AML/CTF reporting entity from 1 July 2026.

About the industry: Professional accounting and bookkeeping firms. Captured by Tranche 2 when providing designated services such as managing client money or company formation.

Compare a professional services (general) business with 6–19 employees structured as a Pty Ltd company: the obligation does not apply (Requires an AML/CTF designated service).

Each cell is the engine's outcome for a business in accountants & bookkeepers with that structure and size, assuming it sells to consumers and small businesses and holds customer contact details. "Check" means the obligation turns on a fact the industry does not settle.

• Payments for the bookkeeper's own fees are excluded from item 3 (s 6(5C)–(5D)).
• Incidental payments where the practice provides no other designated service, such as a bookkeeper's routine payments for a client, are excluded from item 3.
• Payments to or from government, courts or licensed insurers are excluded from item 3.

AUSTRAC's accountant starter kit is written for small accounting practices. Before relying on it, test the practice against the kit's "who the starter kit is for" criteria, including the 15-personnel limit.

When due

Annually between 1 July and 30 September for the financial year just ended. First Tranche 2 report: period 1 July 2026 – 30 June 2027, due 30 September 2027.

Evidence to keep

Lodged compliance report and AUSTRAC Online receipt; the evidence behind each answer (AML/CTF program and approvals, risk assessment reviews, CDD records, SMR/TTR lodgment records, training records, independent evaluation report or schedule); AUSTRAC Online administrator nominated.

Maximum penalty

Section 47(2) is a civil penalty provision: up to $36.4M (body corporate) or $7.28M (other persons) per contravention. AUSTRAC can also issue an infringement notice of $21,840 (company) or $4,368 (individual), or a remedial direction. In May 2026 the Federal Court ordered two securities firms that did not pay AUSTRAC infringement notices for missed 2023 compliance reports to pay $50,000 and $45,000 plus costs.

Regulator

AUSTRAC

Jurisdiction

Commonwealth (national)

• Customer due diligence (KYC) on every customer: Yes
• Designate an AML/CTF Compliance Officer: Yes
• Detect + enhance due diligence on Domestic + Foreign PEPs: Yes
• Enrol with AUSTRAC as a reporting entity: Yes
• Maintain a written AML/CTF program: Yes
• Suspicious matter, threshold, and IFTI reporting to AUSTRAC: Yes
• All 23 answers for accountants & bookkeepers

• Real estate agents: Yes
• Lawyers & solicitors: Yes
• Conveyancers: Yes
• Trust & company service providers: Yes
• Precious metals & stones dealers: Yes
• Banks & ADIs: Yes