Enrol with AUSTRAC as a reporting entity
Tranche 2 entities must enrol with AUSTRAC within 28 days of first providing a designated service (29 July 2026 for services from 1 July 2026).
Who must comply
Any entity providing a 'designated service' as defined in the AML/CTF Act 2006, including the six Tranche 2 sectors from 1 July 2026.
What triggers it
Providing a designated service for the first time, or being captured by Tranche 2 reforms from 1 July 2026.
When due
Within 28 days of first providing a designated service. Tranche 2 entities providing designated services from 1 July 2026: 29 July 2026 (passed — enrol now if you have not).
Evidence required
AUSTRAC reporting entity enrolment confirmation, business activity profile, key personnel attestations.
Max penalty
Each day unenrolled can be a separate contravention. Infringement notice: $21,840 (company) or $4,368 (individual) per contravention; or a civil penalty of up to $36.4M (body corporate) / $7.28M (individual), maximum per contravention.
Effective from
1 July 2026
Who must comply with this? The applicability test by industry, business structure and size.
Summary
Since 1 July 2026, the Tranche 2 expansion has captured real estate agents, accountants, lawyers, conveyancers, trust & company service providers, and precious metals dealers when providing 'designated services'. Enrolment opened on 31 March 2026; a reporting entity must enrol with AUSTRAC within 28 days of first providing a designated service (29 July 2026 for businesses providing designated services from 1 July 2026). Each day a designated service is provided while unenrolled can be a separate civil penalty contravention. AUSTRAC began issuing notices to apparently unenrolled real estate agents, accountants, lawyers and jewellers on 28 August 2026.
Enforced by
Source legislation
Industries
Entity types
Topics
Related
- CWLTHMaintain a written AML/CTF programEvery reporting entity needs a documented AML/CTF program — an ML/TF risk assessment plus AML/CTF policies.
- CWLTHCustomer due diligence (KYC) on every customerIdentify and verify every customer (and beneficial owner) before providing a designated service.
- CWLTHSuspicious matter, threshold, and IFTI reporting to AUSTRACLodge SMRs, TTRs ($10K+ cash), and IFTI reports via AUSTRAC Online.
- CWLTHLodge the AUSTRAC annual compliance report (AML/CTF Act s 47)Every reporting entity must lodge an annual compliance report with AUSTRAC; the first financial-year period runs 1 July 2026 to 30 June 2027, due by 30 September 2027.
- CWLTHDesignate an AML/CTF Compliance OfficerReporting entities must designate an eligible AML/CTF compliance officer at management level and notify AUSTRAC.
- CWLTHDetect + enhance due diligence on Domestic + Foreign PEPsAML/CTF Rules require detection + EDD on Politically Exposed Persons (foreign + domestic + international organisation).
Frequently asked questions
- Who must comply with Enrol with AUSTRAC as a reporting entity?
- Any entity providing a 'designated service' as defined in the AML/CTF Act 2006, including the six Tranche 2 sectors from 1 July 2026.
- What triggers Enrol with AUSTRAC as a reporting entity?
- Providing a designated service for the first time, or being captured by Tranche 2 reforms from 1 July 2026.
- When is Enrol with AUSTRAC as a reporting entity due?
- Within 28 days of first providing a designated service. Tranche 2 entities providing designated services from 1 July 2026: 29 July 2026 (passed — enrol now if you have not).
- What is the maximum penalty for Enrol with AUSTRAC as a reporting entity?
- Each day unenrolled can be a separate contravention. Infringement notice: $21,840 (company) or $4,368 (individual) per contravention; or a civil penalty of up to $36.4M (body corporate) / $7.28M (individual), maximum per contravention.
- What evidence is required for Enrol with AUSTRAC as a reporting entity?
- AUSTRAC reporting entity enrolment confirmation, business activity profile, key personnel attestations.
Source: https://www.austrac.gov.au/industry-and-business/obligations-and-guidance. Rules Mate is not a law firm. Always verify against the live regulator source before acting.