People cancel their Australian Business Numbers (ABN) for a number of reasons. Perhaps you’ve decided to stop trading, you’ve sold your business, or you’ve decided to change your business’s structure. However, sometimes business owners may wish to resume trading. If this is the case, it is possible to reactivate your ABN.
Business owners that have cancelled their ABN often get confused with the process of getting back up and trading. Without an ABN, your business has no identification.
In this article, we’ll tell you how to Reactivate Your ABN whether its been dormant for a few weeks or a few years.
Do I Reactivate My ABN, or just update It?
Re-applying for an ABN is only valid if your ABN has been cancelled and this is reflected on the ABN lookup tool. If your ABN is still active then you’re required to update the details of your new venture within 28 days.
The best way of processing this is via your AUSkey, however this can also be updated via this form or by contacting the ABR.
If your ABN has been cancelled then it’s essential you follow the process of getting this reactivated as it’s an offence to quote an inactive ABN in a transaction.
Reactivating a Cancelled ABN
Once you’ve confirmed your ABN is cancelled, you simply need to re-apply for it. Through LawPath’s ABN registration service you can Reactivate Your ABN within 24 hours. Here are the steps you can take to reactivate a cancelled ABN.
1. Fill out your entity’s information
Whether you are a sole trader, a partnership or a company, you will need to provide all relevant entity information. This includes your entity’s name, TFN, etc.
2. Provide your contact details
Regardless of your business structure you will need to provide your main business address.
3. Registration information
To Reactivate Your ABN, you must provide the reason for your application. As your ABN has been cancelled, you will need to select ‘recommenced business’ and complete the remaining information.
4. Confirmation and completion
Once you have completed all the fields, double check that you have provided the correct information. Within 24 hours your ABN will be reactivated.
Alternatively, you can re-apply through the ABR website. Their system will then search for your previous ABN. Once authorised, your ABN status should update to ‘Active’ upon lookup.
What About a New ABN?
If you’ve never previously applied for an ABN you can apply for one within 5 minutes by using our simple online ABN registration tool. In addition, we’ll expedite your application and provide you with a new ABN within 24 hours. To sum up, there’s always options to activate your ABN.
Ready to reactivate? Contact a LawPath consultant on 1800 529 728 to learn more about customising legal documents and obtaining a fixed-fee quote from Australia’s largest legal marketplace.