ASIC Form 5603 must be lodged with ASIC within 1 month after the end of the external administration of the company.
To prepare Form 5603:
- Enter the Job End Date
On the main job form, click the ellipsis next to the "End Date" field
The "Appointee Retire/Resign wizard" appears.
Enter the end date of the job. Click "Next" and the end has been saved.
- Start the receipts and payment wizard
From either an Action on the standard Task
From the toolbar select "Reports & Forms > Statutory Forms and Lodgements > Returns and Lodgements > FORM 5603 - End of Administration Return
The receipts and payments wizard appears.
Confirm Company details and dates.
- Reconcile your bank accounts
If your bank accounts have not been reconciled to End of Administration (EAR) date you will be presented with a red validation warning.
Double-click on the bank account list.
The bank register appears.
To reconcile your bank account click "Reconcile".
The reconciliation form appears.
Complete the reconciliation.
When all accounts are reconciled and the validation warning is green you may proceed.
Note: If you proceed through this window without reconciling your account the system will allow you to proceed as far as the Summary of Receipts and Payments page only. You will not be able to complete the wizard.
- Details of Assets - Gross value of assets realised, excluding GST - The total of all assets realised to the end date of this return will report here. Click the ellipsis to review Receipts and Payments Abstract report for details of asset realisations.
6. Did you assign any claims to a third party? If yes enter the value of the claim
7. RATA or ROCAP - Answer Yes or No to receiving the RATA or ROCAP. If No you will need to answer Yes or No about seeking assistance from ASIC
8. Details of Liabilities - Review figures for creditors claims. You can manually enter/overwrite these figures if necessary. To review the creditor claims click on Creditors at the top of the screen to be take to the creditors claims page.
The Details of the Liabilities appear.
You will be directed straight to the Secured Creditors claim screen. To view other creditor class's simply click on the class you wish to review.
9. Remuneration - Fields are auto filled if you have entered fee approvals and correctly coded the payments. However you can override/enter figures if required.
Section 5 Details of Remuneration now reports any fees or disbursements relating to previous appointments that are paid in the current appointment as well as fees and disbursements paid that relate to the current appointment type.
10. Summary of Receipts and Payments Confirm prior period figures are correct by comparing them to the previous lodgement. If you need to review what the amounts are made up of click on the ellipsis next to the amount. You can also review Receipts and Payments reports from the Reports tab at the top of the page. When you are satisfied your figures are correct.
11. Details of Payments and Dividends
Details of Payments are any FEG payments made since appointment and to the end date of the return.
Details of Dividends reports actual dividends paid since your appointment and to the end date of this account.
If need be use the Creditor tab at the top of the page to view the Creditors claims page to confirm these figures.
12. You can preview the return, before completing the wizard by clicking on the report name. OR click NEXT to create the return.
Tick Suppress Employee Names if you do not want to report the names of the employees that have received a payment during the period of this report.
NB: Ensure that the account you want to suppress has the box ticked
13. If using electronic authorisation you can select the recipient to review the return or request authorisation of the return, depending on your permissions. Click on the option so it is highlighted and marked by red inverted arrows. Tick the recipient and click NEXT. An email will be sent to the recipient to review the document
14. Preview in Document Management is ticked by default. Your screen will switch to the Document Management tab for you to preview if required.
15. Your document have been automatically saved in the Lodgement folder. An new folder, 5603 and sub folder yyyymmdd has been created to store the pdf version of your document.