AUSTRAC Registration Opens March 31, 2026: Complete Step-by-Step Guide
In 4 days, AUSTRAC opens Tranche 2 registration. If you're an accountant, lawyer, real estate agent, or jeweller, here's exactly what you need to do to register before the July 1 deadline.
Critical Deadline: March 31, 2026
AUSTRAC Tranche 2 registration opens Monday, March 31, 2026. You must register before July 1, 2026 to avoid criminal penalties, including fines up to $19.8 million and up to 2 years imprisonment.
Who Must Register with AUSTRAC?
From July 1, 2026, over 100,000 Australian businesses fall under Tranche 2 of the AML/CTF Act. If you provide any of the following "designated services," you must register:
Accountants & Tax Agents
Providing financial services, preparing financial statements, managing client funds, or offering tax preparation services.
Lawyers & Conveyancers
Handling property settlements, trust creation, company formation, or managing client trust accounts.
Real Estate Agents
All agents, buyer's agents, and developers assisting with buying, selling, or auctioning property.
Jewellers & Dealers
Selling precious metals, stones, or high-value goods above $10,000 threshold.
Important: There is no transaction threshold for registration. Even if you only handle one designated transaction per year, you must register.
Not sure if you're caught?
Use AUSTRAC's official decision tree or our free self-assessment tool at freeaml.com.au to find out in 2 minutes.
What You'll Need to Register
Before you start the enrollment process on March 31, gather the following information:
Business Information
- Australian Business Number (ABN) or Australian Company Number (ACN)
- Legal business name and any trading names
- Business structure (sole trader, company, partnership, trust)
- Principal place of business address
Designated Services
- List of all designated services you provide (e.g., real estate sales, tax preparation, legal conveyancing)
- Estimated annual transaction volume (optional but helpful)
Contact Details
- Primary contact person (business owner or AML Compliance Officer)
- Contact email and phone number
- Postal address for AUSTRAC correspondence
Reporting Group Information (If Applicable)
- Details of related entities or franchises
- Whether you're joining an existing reporting group or creating a new one
Step-by-Step Registration Process
On March 31, 2026, follow these steps to complete your AUSTRAC enrollment:
Access the AUSTRAC Portal
Go to austrac.gov.au and click 'Enrol as a Reporting Entity.' Create an account if you don't already have one (you'll need an email address).
Select Entity Type
Choose 'Tranche 2 Entity' and select your business structure (Individual for sole traders, Corporation for companies/trusts).
Enter Business Details
Input your ABN or ACN. AUSTRAC will auto-fill details from the ABR—verify these are correct before proceeding.
Specify Designated Services
Select all services you provide from the dropdown. Common examples: property transaction services (real estate), legal services (law), financial statement preparation (accounting), dealing in precious metals (jewellers).
Nominate Compliance Contact
Assign an AML Compliance Officer (AMLCO). This is usually the business owner or a designated compliance manager. Provide full name, position, email, and phone.
Review and Submit
Double-check all information. Errors can delay your registration. Click 'Submit' and save the confirmation email—it contains your AUSTRAC registration number.
After Registration: What's Next?
Registration is just the first step. Here's what you must complete before July 1, 2026:
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Penalties for Non-Registration
Failing to register with AUSTRAC is a criminal offense under Section 184 of the AML/CTF Act. Penalties include:
- Imprisonment: Up to 2 years for individuals
- Corporate fines: Up to $19.8 million (10,000 penalty units)
- Individual fines: Up to $3.96 million for directors/officers
- Personal liability: Directors can be held personally responsible
AUSTRAC has publicly stated they will conduct on-site inspections and request compliance evidence from July 1, 2026. Do not assume you can "deal with it later."
Frequently Asked Questions
When does AUSTRAC Tranche 2 registration open?
Registration opens on March 31, 2026. You must register before July 1, 2026 to avoid penalties.
How long does registration take?
If you have all required information ready, registration takes approximately 10-15 minutes.
Is there a fee to register?
No. AUSTRAC registration is free.
Can I register before March 31?
No. The enrollment portal for Tranche 2 entities opens on March 31, 2026.
What if I provide multiple services?
Select all designated services you offer during registration. You only need to register once, even if you provide multiple services.
Do I need an AML Compliance Officer (AMLCO)?
Yes. You must nominate a compliance contact during registration. For small businesses, this is usually the owner or principal.
Summary: Your Action Plan
✓ Pre-March 31 Checklist
- □ Confirm you're caught by Tranche 2 (use decision tree)
- □ Gather ABN, business details, and service list
- □ Identify your compliance contact/AMLCO
- □ Set a calendar reminder for March 31, 2026
✓ March 31 Actions
- □ Go to austrac.gov.au and complete enrollment
- □ Save your AUSTRAC registration confirmation email
✓ April-June Tasks
- □ Build your AML/CTF program (free template at FreeAML)
- □ Train all staff
- □ Set up client verification (client-pays = $0 cost)
- □ Conduct risk assessment
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