How to Register with AUSTRAC as a New Reporting Entity: A Step-by-Step Guide for Tranche 2 Professionals
All Tranche 2 reporting entities must enrol with AUSTRAC before providing designated services from 1 July 2026. Here is how to do it correctly and avoid common mistakes.
Who must enrol with AUSTRAC?
Any entity providing "designated services" under the AML/CTF Act 2006 must enrol before commencing those services. From 1 July 2026: accounting firms, law firms, real estate agencies, buyers agents, conveyancers, property developers, and trust/company service providers. **Penalty for non-enrolment**: up to A$19,000/day. Providing a designated service without being enrolled is a criminal offence.
Before you enrol — what you need
Gather in advance: - Business name (as registered) and ABN - Principal place of business address - Compliance officer full name, role, and contact details - Designated services you provide - Ownership structure details (directors, partners, or trustee) Also ensure your AML/CTF Program is drafted — while not uploaded at enrolment, it must exist before you provide any designated service.
Step-by-step: enrolling via AUSTRAC Online
**Step 1** — Go to portal.austrac.gov.au. **Step 2** — Create a new account (new entities) or log in. Verify your email address. **Step 3** — Select "Enrol as a reporting entity". Complete: designated services, business details (ABN, address), compliance officer details, ownership structure. **Step 4** — Submit. AUSTRAC issues your **Reporting Entity Number (REN)** — required for all future filings including SMRs. **Step 5** — Set up SMR filing access for your compliance officer and authorised staff. Enrolment typically takes 30–60 minutes with information to hand. There is no application fee.
What happens after enrolment?
**Immediately**: Ensure your AML/CTF Program is in place; brief staff on SMR obligations and tipping-off prohibition; begin conducting CDD on new clients. **Ongoing**: Keep AUSTRAC registration current (change of address, compliance officer changes, new services); maintain 7-year records; file SMRs when required; conduct annual internal reviews; conduct independent reviews every 3 years.
Common AUSTRAC enrolment mistakes
1. **Enrolling late** — Enrolment must happen before 1 July 2026, not after. 2. **Enrolling the wrong entity** — The service-providing entity (usually the company) must enrol, not the individual. 3. **Incomplete designated services list** — List all designated services, not just high-risk ones. 4. **Inappropriate compliance officer** — Must be a senior person with genuine authority. 5. **Not updating AUSTRAC** — Notify promptly of business structure changes, new services, or compliance officer changes. 6. **Assuming enrolment equals compliance** — Enrolment is only the beginning. AML/CTF Program, CDD, and staff training must all be in place from day one.
How Complylty supports your AUSTRAC compliance
- **AML/CTF Program builder** — Draft Part A and Part B with our step-by-step template - **CDD workflow** — Structured client verification with document upload and 7-year retention - **SMR tracking** — Draft, record and manage suspicious matter reports with tipping-off safeguards - **Staff training records** — Document AML/CTF training sessions and attendance - **Audit-ready files** — Every client interaction logged, timestamped, and accessible for AUSTRAC inspection Built specifically for professional services firms — not banks. Simple, affordable, and AUSTRAC-aligned.