AUSTRAC enrolment checklist for professional services firms (2026)

The deadline to enrol your accounting firm with AUSTRAC is 29 July 2026. Enrolment is the first formal step in becoming a compliant Tranche 2 reporting entity — and it must be completed before you can demonstrate you have an active AML/CTF Program.

This guide walks you through every step of the AUSTRAC enrolment process, what information you need to prepare, how to nominate your Compliance Officer, common mistakes to avoid, and what to do immediately after enrolment.

Step 1 — Determine if your firm needs to enrol

Not every accounting firm is required to enrol. The obligation applies based on whether your firm provides "designated services" under the AML/CTF Act — not simply because you're an accountant.

You are likely required to enrol if you provide any of these services:

• Forming or managing companies, trusts, partnerships, or other legal arrangements
• Acting as or arranging a nominee director, trustee, or shareholder
• Managing client funds, bank accounts, or securities
• Buying or selling a business on behalf of a client
• Conveyancing or acting on property transactions on behalf of clients

If your firm only provides tax returns, BAS preparation, and general bookkeeping, you may not be in scope. When in doubt, use AUSTRAC's self-assessment tool or obtain independent legal advice. Over-inclusion at this stage is safer than under-inclusion.

Step 2 — Gather your information before starting

Have the following ready before logging into AUSTRAC Online:

• Your firm's ABN
• Your firm's legal name and trading name
• Principal place of business address
• Contact details for the firm
• myID credentials (formerly myGovID) for the principal authority
• Details of your nominated Compliance Officer (name, job title, phone, email)
• List of designated services your firm provides (from the AUSTRAC designated services list)

Step 3 — Create your AUSTRAC Online account

1. Go to online.austrac.gov.au
2. Click "Register" and log in with your myID
3. Select your firm's ABN when prompted
4. You will receive a verification email — click the link within 24 hours
5. Select "Enrol as a new reporting entity"
6. Choose the Tranche 2 enrolment pathway — do not select the Tranche 1 registration pathway, it is a different process

Step 4 — Select your designated services

AUSTRAC will present a list of designated services from Schedule 1 of the AML/CTF Act. Select all services your firm provides.

If you are uncertain about a particular service, select it and seek legal advice afterwards. Over-inclusion is preferable to under-inclusion at this stage — you can remove services later if they genuinely don't apply.

Step 5 — Nominate your AML/CTF Compliance Officer

Every reporting entity must appoint a Compliance Officer who meets AUSTRAC's "fit and proper person" requirements. Enter their:

• Full legal name
• Job title
• Phone number
• Email address

Step 6 — Review and submit

Review all information carefully before submitting. Once submitted, AUSTRAC will process your enrolment and issue you an AUSTRAC account number. Keep this number — you will need it for all future AUSTRAC correspondence and reporting.

AUSTRAC will send a confirmation email. Save this as part of your compliance records — it is evidence of your enrolment date.

Step 7 — After enrolment: what you must do next

Enrolment is the beginning, not the end. Once enrolled, you must:

1. Implement your AML/CTF Program — a written document covering your risk assessment, customer due diligence procedures, training, and reporting processes
2. Start KYC on all clients receiving designated services — verify identity before providing any further designated services
3. Train your staff on AML/CTF obligations and document the training
4. Set up your record-keeping systems — 7 years retention required
5. Monitor for suspicious activity and be prepared to lodge Suspicious Matter Reports

Common mistakes to avoid

• Treating enrolment as the finish line. Enrolment triggers your obligations — it doesn't fulfil them.
• Missing the 29 July 2026 deadline. Late enrolment is itself a contravention of the AML/CTF Act and can attract civil penalties.
• Nominating a junior Compliance Officer. AUSTRAC expects real seniority and authority.
• Under-selecting designated services. When in doubt, include it — you can seek legal advice later.
• Not saving your confirmation. Keep your AUSTRAC account number and confirmation email as part of your compliance records.

Related reading: How to enrol with AUSTRAC · Preparing your business for Tranche 2 · What your AML/CTF Program must include · Frequently asked questions