Query
Shares were set up as beneficially held but should be non-beneficially held (or the other way around). How do I change or correct the beneficial ownership status?
This also applies if shares were recorded as held on their own behalf when they are actually held in trust or on behalf of another party, or if the wrong beneficial status has been on the register since incorporation or allotment.
Solution
How you fix it depends on whether the status genuinely changed on a particular date, or was recorded incorrectly from the start.
Step 1: Work out which situation applies
| Situation | What to do | Form lodged with ASIC |
|---|---|---|
| The beneficial status genuinely changed on a date (e.g. the shareholder started holding the shares for a trust) | Process a Change to Beneficial Ownership transaction | Form 484, within 28 days of the change |
| The status was wrong from the start (e.g. entered incorrectly at incorporation or allotment) | Correct the original form with a Supplementary Form 492 | Form 492 |
| ASIC's records are already correct and only CAS 360 shows the wrong status | Update the transaction in CAS 360. See Add a Beneficial Owner to an existing Share Transaction | None |
Not sure which applies?
Ask: did the arrangement for who benefits from the shares actually change on a date? If yes, it's a change. If the shares were always meant to be held that way and were simply entered incorrectly, it's a correction.
Step 2: Process the fix in CAS 360
Option A: The status genuinely changed
Go to Company > select the company > Shareholders > Add Transaction > Change to Beneficial Ownership.
- To change shares to non-beneficially held: enter the party the shares are held for (e.g. the trust) in New Beneficial Owner.
- To change shares to beneficially held: leave New Beneficial Owner blank.
CAS 360 will prepare Form 484 Section C and the supporting documents. For the full steps, see Change to Beneficial Ownership.
Option B: The status was wrong from the start
Go to Documents, locate the original form that was lodged with the incorrect status, and prepare a Form 492. In Details of Correction, describe the correct beneficial ownership status. For the full steps, see How to correct mistakes on a form lodged to ASIC - Supplementary Form 492 / 902.
Correcting a Form 201 (incorporation)
If the incorrect status was lodged on the Form 201 at incorporation, the Form 492 must be lodged with ASIC by post. This applies whether the Form 201 was lodged electronically or on paper.
Step 3: Check fees
- There is no ASIC fee to lodge a Form 484 for a change to beneficial ownership.
- A late fee applies if the Form 484 is lodged more than 28 days after the date of the change.
For current ASIC fees, see ASIC Fee Changes - effective 1 July 2026.