Free tool
ASIC reportable situations timer
AFS and credit licensees must report a 'reportable situation' to ASIC within 30 calendar days of first knowing of it. This tool tracks that clock, flags deemed-significant breaches that are automatically reportable, and surfaces the separate trigger that applies when an investigation into a possible significant breach runs beyond 30 days — with the next steps for each stage.
Monitoring — 30 day(s) to the 30-day reporting horizon.
Indicative 30-day horizon: 31 July 2026
Triggers
- Governing regime: AFS licence (s 912DAA, Corporations Act 2001).
Recommended next steps
- Log the issue in your breach register the moment it is identified — record when, who knew, and what is known.
- Assess against the 'core obligation' list and the s 912D significance factors (impact, number/frequency, actual/potential loss, whether it indicates arrangements are inadequate).
- If you cannot yet form a view, commence a documented investigation — note that once an investigation into a possible significant breach runs beyond 30 days it becomes reportable in its own right.
- Consider whether the conduct falls into a deemed-significant category (offence, civil penalty provision, s 1041H, material false/misleading statement, gross negligence, serious fraud) — if so, it is automatically significant.
Sources
Reference tool only — not legal advice. Whether a situation is a 'reportable situation' turns on the specific facts and the s 912D significance factors. Your compliance team and an Australian-admitted lawyer should be consulted on significant or complex matters, and reports must be lodged via the ASIC Regulatory Portal.
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Frequently asked questions
- How long do I have to report a reportable situation to ASIC?
- You must lodge a report with ASIC within 30 calendar days of first knowing that, or being reckless with respect to whether, a reportable situation has arisen. The obligation commenced on 1 October 2021 under s 912DAA of the Corporations Act 2001 (for AFS licensees) and s 50A of the National Consumer Credit Protection Act 2009 (for credit licensees).
- What counts as a reportable situation?
- Reportable situations include significant (or likely significant) breaches of a core obligation judged against the s 912D factors; 'deemed-significant' breaches that are automatically significant (for example breaches constituting an offence punishable by a specified level of imprisonment, breaches of civil penalty provisions, contraventions of s 1041H, material false or misleading statements, gross negligence or serious fraud); an investigation into whether a significant breach of a core obligation has occurred that continues for more than 30 days; and the outcome of such an investigation.
- Why does an investigation running more than 30 days matter?
- An investigation into whether a significant breach of a core obligation has occurred, or will occur, is itself a reportable situation once it continues for more than 30 days. At that point the reporting obligation is triggered even if you have not yet concluded whether a significant breach happened, so the 30-day investigation point starts its own reporting clock.
- How do I lodge the report?
- Reportable situations are lodged through the ASIC Regulatory Portal. Complete the report fully — describe the situation, the core obligation breached, the cause, the period, the number of clients affected, the financial impact, and the remediation steps taken or proposed. Keep a breach register recording when you became aware and when you reported to evidence timely lodgement. This tool is a reference aid, not legal advice.
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