Investor reporting requirements | Foreign Investment Review Board

Foreign investors must meet certain reporting requirements under the Foreign Acquisition and Takeovers Act 1975 (the Act).

Notification Requirement (new)

From 1 January 2021, all foreign investors who have been issued a no objection notification or an exemption certificate after that date must notify the Treasurer of certain events (or situations) or when they take certain actions. These actions and situations are defined in the Act and relate to any core Part 3 action .

Sections 98C to 98E provide that a person must notify the Treasurer of taking an action specified in a no objection notification (s.98C) or an exemption certificate (s.98D) or a notifiable situation following an action (s.98E).
For convenience, a list of those actions and situations can be found below. Treasury has also created this Notification of Actions form to make it easier for foreign investors to meet their new reporting requirements.
These notification requirements apply to all actions the subject of a no objection notification or exemption certificate, regardless of whether conditions are imposed.

Reporting on Conditions and other matters

Conditions imposed under an exemption certificate or a no objection notification may also include a requirement that the foreign investor report back to Treasury on certain matters, including compliance with their conditions.
These reports should be submitted by the date and via the mechanism (for example, email address) specified in the conditions. If the conditions are silent on the mechanism to submit the report, please email the compliance report to firbcompliance@treasury.gov.au.

How to report your notifiable action(s)

To report a notifiable action (including a notifiable security action) has taken place or when certain events have occurred, please complete a Notification of Actions Form.

For all other reports, such as reporting on compliance with conditions and other matters as prescribed in no objection notifications and exemption certificates, please submit your report by emailing Treasury at firbcompliance@treasury.gov.au.

When to submit notifications of actions by?

Foreign investors must notify the Treasurer no later than 30 days after the latest of the following (where relevant):

the day on which the foreign investor took the core Part 3 action;
the day on which the person acquired the interest in a security, asset, trust or Australian land;
the day on which a situation described in s.98E(2) arose;
the day on which the no objection notification or exemption certificate was given.

Frequently Asked Questions

What is a core Part 3 action?

A core Part 3 action is defined in s.4 of the Act as:

a significant action
a notifiable national security action that is not a significant action
an action about which the Treasurer has given notice under s 66A(4) i.e. a ‘notice of review’
a reviewable national security action

What actions or situations must be notified?

Significant action	Acquiring an interest in an Australian entity or Australian business that is an agribusiness Acquiring an interest in an entity (corporation or trust) Issuing securities in an entity Entering an agreement relating to the affairs of an entity Altering a constituent document of an entity Acquiring an interest in assets of an Australian business Entering or terminating a significant agreement with an Australian business Acquiring an interest in Australian land Acquiring an interest in an Australian media entity or business Starting an Australian business Acquiring an interest in a tenement Acquiring an interest in securities in a mining, production or exploration tenement
Notifiable national security action that is not a significant action	Starting a national security business Acquiring a direct interest in a national security business Acquiring a direct interest in an entity that carries on a national security business Acquiring an interest in Australian land that, at the time of the acquisition, is national security land Acquiring an interest in an exploration tenement in respect of Australian land that, at the time of the acquisition, is national security land
Action in respect of which the Treasurer has given notice under s 66A(4) Or Reviewable national security action that has been notified to the Treasurer	Acquiring an interest in an entity Issuing securities in an entity Entering into an agreement relating to the affairs of an entity Altering a constituent document of an entity Acquiring an interest in an Australian business Acquiring an interest in the assets of an Australian business Entering/terminating a significant agreement with an Australian business Starting an Australian business Acquiring an interest in Australian Land
Notifiable situation following a core Part 3 action	Change of control of entity/business If core Pt 3 action is acquisition of direct interest in an Australian entity – cessation of that direct interest If core Pt 3 action is acquisition of interest of any percentage in entity/business –percentage interest is equal to or less than that held immediately before acquisition If core Pt 3 action is acquisition of interest in Australian land – cessation of all/part of that interest in land If core Pt 3 action is an action specified in Regulations – cessation of those situations/actions specified in the Regulations Person ceases to have an interest of a specified percentage in an entity/business Cessation of direct interest in entity/business Cessation of carrying on the business Ceasing to hold all or part of an interest in a tenement Ceasing to have an interest of at least a certain percentage of securities of an entity

What is the mandatory notification requirement?

Under the Foreign Acquisition and Takeovers Act 1975 (the Act), the mandatory notification requirement provides a standardised approach for foreign investors to meet their obligations and work through their compliance matters quickly and easily.
Sections 98C to 98E provide that a notice must be given in relation to a core Part 3 action:

A person must notify the Treasurer of taking an action specified in a no objection notification (s.98C) or an exemption certification (s.98D) or a notifiable situation following an action (s.98E).

These notification requirements apply to all actions the subject of a no objection notification or exemption certificate, regardless of whether conditions are imposed.

Your obligations as an investor

Mandatory notification requirements apply in relation to no objection notices and exemption certificates given on or after 1 January 2021. In order to comply with the notification requirements, foreign investors issued with a no objection notification or exemption certificate must notify the Treasurer within 30 days after the latter of the following:

the day on which the person acquired the interest in a security, asset, trust or Australian land
the day on which the person took the relevant action (where the action is a core Part 3 action) or the day a specified related event that needs to be notified took place; or
the day on which the no objection notice or exemption certificate was given.

Further information on compliance reporting requirements for compliance with conditions and other matters can be found on the FIRB website under Guidance Note 13.

Consequences for failing to notify

Significant penalties (including infringement notices and civil penalties) may apply if you do not comply with these requirements. Further information on our approach to compliance can be found on the FIRB website under Compliance Approach.

Further information

If you would like further information on your compliance obligations as a foreign investor, we encourage you to engage with us by emailing Treasury at firbcompliance@treasury.gov.au.

Foreign investment in commercial land, agricultural land or an Australian business	Phone: 1800 050 377 or +61 2 6216 1111	Email: firbcompliance@treasury.gov.au
Foreign investment in residential real estate		Email: firbcompliance@ato.gov.au
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