Winding Up a Company - ASIC Form 519

Your company could face forced liquidation over an unpaid debt of just $4,000. Did you know that?

ASIC Form 519 plays a crucial role in the winding-up process if a company can't pay its debts. This document serves as a formal notice to ASIC of the company’s application for winding-up.. 

A creditor's statutory demand is a common way to trigger this process if a company fails to discharge debt that it owes. If the company does not pay the debt within twenty-one (21) days of receiving a statutory demand, the court can presume the company is insolvent. A creditor may then generally apply to the court for the winding up of the company. The legal costs and filing fees for this process are expensive and might add up to fees in excess of  $10,000.

This piece will cover what business owners and creditors need to know about ASIC Form 519. We'll explain the lodgement requirements, show how this document fits into the winding-up process, and explore options available to companies that face this serious situation.

When and Why ASIC Form 519 Is Required

The Corporations Act 2001 (Cth) sets strict rules about notifying regulatory authorities of company winding-up actions. Form 519, known as "Notification of court action relating to winding-up," plays a vital role in this process.

Legal basis under the Corporations Act

The Corporations Act mandates ASIC Form 519 under two main sections. Section 465A(1)(a) requires anyone applying to wind up a company to "lodge notice in the prescribed form that the application has been made". The law also states in Section 470(1)(a) that applicants (except ASIC) must lodge notice of the filing, and the date of the filing, of the application. 

These legal requirements help ASIC keep accurate records of companies facing possible liquidation. The rules create transparency in corporate proceedings and protect everyone's interests during the winding-up process.

When Form 519 must be lodged

The timing of Form 519 submission is significant. You need to complete and email this form to ASIC before 10:30 am the next business day after filing your winding-up application. This deadline makes sure the regulatory authority gets prompt notification. In addition to this, you must lodge another form 519 in circumstances, including where your winding-up application is withdrawn or dismissed, or another court order has been made. The deadline for filing under these other circumstances is two business days. 

Late fees apply if you miss these deadlines. You must also prove that ASIC received proper notification before the winding-up application hearing. This usually means filing an affidavit with Form 519 attached.

Who is responsible for lodging the form

The person seeking the winding-up order must lodge Form 519. The Corporations Act states that the "applicant (other than ASIC) for the winding up of a company" takes this responsibility. This applies to all eligible parties, whatever their status as creditors, shareholders, or others.

ASIC sends a confirmation after receiving the form. The applicant then needs to prepare an Affidavit of Lodgment of Notice at ASIC and submit it to the Court. This affidavit shows that you met all statutory notification requirements.

The process has become easier over the last several years. You need to review and accept the email lodgment terms, and email the signed form to form519documents@asic.gov.au. ASIC won't process any other documents, including court orders, sent to this email address.

Meeting these requirements goes beyond just following procedures - it's your legal duty under the Corporations Act. There may be substantive and/ or procedural consequences for failing to notify ASIC as required.

Step-by-Step: How to Complete ASIC Form 519

A proper notification of court actions for company wind-ups needs Form 519 filled out correctly. This piece will walk you through the quickest way to complete this important document.

Details required in the form

ASIC Form 519 has sections that need specific information:

1. Company details - You must write the company name and ACN/ABN at the start of the form.

2. Lodgement details - ASIC needs the contact details of the person they should reach about the form. This includes registered agent number (if you have one), name, telephone, email, and postal address.

3. Court details - You need to list which court handles the case (is it a federal court or a state supreme court), along with the state/territory registry and proceeding number.

4. Applicant information - The form needs either a person's details (family name and given name) or a company's information (name and ACN/ABN/ARBN) plus the complete address.

5. Action type - Check the right box to show whether:

   • Someone applied to wind up the company (section 459P, 462, or 464)

   • An application was withdrawn or dismissed

   • A court order appointed a liquidator or provisional liquidator

6. Liquidator details - The liquidator or provisional liquidator's name, firm, and full address must be included if appointed.

7. Signature - The applicant or their representative must sign the form. For corporations, the director, secretary, or equivalent needs to sign.

Common mistakes to avoid

Small errors can get your Form 519 rejected or cause problems. Here's what you need to watch out for:

• Missing the submission deadline - late lodgment is the biggest issue. Ensure to submit the form within the submission deadline. 

• Wrong email format - your email subject line must have the form number, company name, and ACN.

•  No tickbox anymore. 

• Extra documents - the form519documents@asic.gov.au email address won't process other documents, including court orders.

• Large file size - keep email submissions under 10MB.

• Wrong annexure format - extra information needs specific formatting, including: A4 paper, numbered pages, and proper identification.

Where and how to submit the form

ASIC offers simplified processes for Form 519 submission:

Email submission (recommended method):

1. Get the form from ASIC's website (Form 519 PDF, last updated 13/11/2025).

2. Fill in all required fields as shown above.

3. Email a scanned PDF of your signed form to form519documents@asic.gov.au.

4. Write the form number, company name, and ACN in your email subject line.

5. Keep both the email and the submitted Form 519 for at least 7 years.

ASIC will send you confirmation once they receive Form 519. Email submissions receive faster confirmations, while postal submissions take longer to process.

Connecting Form 519 to the Winding Up Process

Form 519 is an important submission in a company's winding-up process. A clear understanding of its role helps applicants direct their way through the legal complexities of corporate insolvency.

How Form 519 fits into the timeline

The winding-up process follows a strict timeline where Form 519 shows up multiple times. The general rule is that where you apply for winding up, or the court makes an order in relation to winding-up proceedings, ASIC should be promptly notified via Form 519.

Form 519 is then used within the winding-up proceedings as evidence of your compliance with the statutory notification requirements.

Relation to statutory demand and court filing

The winding-up process often begins when a company fails to comply with a statutory demand. The creditor must take several steps at once:

• File the court application for winding up

• Notify ASIC by lodging Form 519

• Publish a notice on ASIC's website

The creditor must file more documents with the court before the first court date:

• An affidavit of service proving the company received the court documents

• An affidavit in support, verifying the debt remains unpaid

The notice must be published at least 3 days after serving the company and at least 7 days before the hearing.

Impact of missing the deadline

Applications might face dismissal or costly adjournments if documentation isn't complete. The court must decide within 6 months of application lodgment, or the application will lapse. Extensions are possible if the court allows.

Proper timing and document management aren't just paperwork concerns—they can make or break a winding-up application.

What Happens After Lodging Form 519

After submitting Form 519 to ASIC, you need to complete several post-lodgement procedures. These steps help you comply with regulatory requirements and move the winding-up application through the court system smoothly.

Acknowledgement from ASIC

ASIC sends an acknowledgement when Form 519 is successfully lodged. This confirmation shows that you met the notification requirement. You should keep both this acknowledgement and a copy of the submitted form for at least 7 years.

The ASIC acknowledgement marks the first step that guides you to the court hearing. Applicants who lack this confirmation may struggle to prove they've met their statutory obligations under sections 470(1)(a) and 465A(1)(a) of the Corporations Act.

Publishing the notice on ASIC's website

You must publish notice of the winding up application on ASIC's Insolvency Notices website, along with the Form 519 lodgement as soon as reasonably practicable, after lodging the application. 

Filing supporting affidavits with the court

The court requires several affidavits before the hearing date to show compliance with all procedures:

You need an affidavit that verifies ASIC received proper notification via Form 519, with the form attached as evidence. The second affidavit confirms publication of the details of the application on the ASIC website. The final affidavit of service shows the company received proper service of the winding-up application.

These affidavits prove you met all notification and publication requirements before the court hearing. The court might delay or dismiss your application without them.

You should keep detailed records of all ASIC communications and court document copies during this post-lodgement phase. This ensures your application progresses smoothly toward the final hearing.

Alternatives and Defences to Winding Up

Companies facing winding-up proceedings have several options to avoid liquidation. Companies should consider these options within the 21-day statutory period after getting a demand.

Paying the debt or negotiating with the creditor

To discharge a valid statutory demand, a company can repay the debt within the 21-day statutory period. Directors can also negotiate with creditors for revised payment terms. Most creditors would rather receive payment than pursue liquidation. The available options include:

• Negotiating smaller installments over a longer period

• Settling for a lower sum through a lump sum payment

• Paying off smaller debts first to free up funds for larger ones

It is crucial that any negotiations with the creditor be documented, and should a negotiated agreement be reached, that the creditor notifies the company in writing that they withdraw their statutory demand.

When disputes arise, you need a team that cuts through complexity and gets results. At Roberts Litigation, we protect what matters most: your business.

Applying to set aside the statutory demand

A company has 21 days to apply to set aside a statutory demand. The court might grant this request if:

• A genuine dispute exists about the amount or existence of the alleged debt in the statutory demand

• The company has an offsetting claim

• The demand's defect causes substantial injustice

• Other valid reasons exist

The creditor must be served this court-filed application within the strict 21-day timeframe.

Voluntary administration or restructuring

Voluntary administration gives companies time to assess their options. This approach works best when:

• The business wants restructuring or a potential sale

• The company can only make partial debt payments

Voluntary administration focuses on saving the business, which, if possible, is typically affected through a Deed of Company Arrangement, unlike liquidation.

Conclusion

A winding-up application is a crucial time for any company. ASIC Form 519 is used to notify the regulatory authority about possible liquidation proceedings. Companies need to meet the strict deadlines set by Form 519, as missing them can be detrimental to the company and create procedural complications.

The form needs careful attention to detail. Companies must include accurate company information, precise court details, and correct applicant information. Email submission is the quickest way to file, though postal options are available if electronic submission isn't possible.

Form 519 appears several times during this whole process. Companies use it first when applying, and later when the court makes a decision or another stipulated event occurs.. This form's role is crucial for creditors pursuing liquidation and companies defending against it.

Companies at risk of liquidation have other options. Debt payment, creditor negotiations, applications to set aside statutory demands, and voluntary administration may be suitable in the right circumstances. Business owners should look into these options as soon as possible after they are made aware of an issue. 

Companies should get professional help early when money troubles start, rather than waiting for statutory demands. 

FAQs

What is ASIC Form 519, and when is it required?

ASIC Form 519 is a notification of court action relating to the winding-up of a company. It must be lodged when applying to wind up a company, by 10:30 am on the next business day after applying, and within 2 business days after a court makes a winding up order.

Who is responsible for lodging ASIC Form 519?

The applicant seeking the winding-up order is responsible for lodging Form 519. This could be a creditor, shareholder, or other eligible party.

What are the consequences of missing the Form 519 lodgment deadline? 

Missing the deadline can result in late fees, potential dismissal of the application, or costly adjournments, jeopardising the success of the winding-up application.

Are there alternatives to winding up a company?

Yes, alternatives include paying the debt, negotiating with creditors for revised payment terms, applying to set aside the statutory demand within 21 days, or entering voluntary administration for business restructuring.

What happens after lodging Form 519? 

After lodging Form 519, ASIC sends an acknowledgement of receipt. The applicant must then publish a notice on ASIC's Insolvency Notices website and file supporting affidavits with the court before the hearing date.