Question
How can I change a Company's name to an existing business name?
Answer
Note: Before proceeding ensure the relationship between the business name holder and the company meets ASIC's requirements. Where the business name is held by:
- The Company changing it's name: Change of name can proceed.
- An individual: The individual must be either a member or director of the company before proceeding.
- Any other entity: The business name must be transferred to either of the above entities before proceeding.
If you are using NowInfinity's Corporate Messenger service, you can access and prepare a Form 205A, via the Company Profile. Find this form by hovering over the "Company Name" menu:
To change a Company's name to an existing business name, there are additional steps required as part of the Company name change form as follows:
- You must answer "Yes" to "Is the proposed name identical to a registered business name", and enter the ABN or Registration Number:
- On the Authorisation and Declaration page, select "I want this application to be processed manually by ASIC".
- In the text box, provide confirmation that the requirements above (depending on the business name holder) are satisfied:
- Current company: The name of the company is being changed to an existing business name. The owner of the business name, [insert current company] [insert ABN], is a the applicant company.
-
Individual Member/Director: The name of the company is being changed to an existing business name. The owner of the business name, [insert name of individual] [insert holder's ABN], is a [director/shareholder] of the company.
For example,
- Complete your order.
What to do if the Company Name Change is rejected
There may be instances where the form is rejected. Outlined below are some common scenarios and potential resolutions.
Rejection message: V557 The ABN is not valid for the business name
Resolution:
This can be resolved by following the instruction outlined within: Rejection Code V557 - ABN is not that of the business name
Rejection Message: The Business name is owned by a Sole Trader
Resolution:
The Sole trader needs to be recorded as Director or Shareholder of the company.
Rejection message: Business Name is cancelled
Resolution:
Until the 'cancelled' business name becomes available again, the proposed name cannot be used to register as either a company or business name.
Cancellation of a Business Name is not immediate, and once the cancellation is completed by ASIC the business name will be put on hold. The hold will be lifted depending on who had initiated the cancellation:
If initiated by the owner of the business - the name will become available after 4 months from the date the business name was cancelled, or
If initiated by ASIC - the name will become available after 6 months from the date the business name was cancelled.