---
title: "ASIC Form 388: copy of financial statements and reports"
url: "https://ailawframework.com/precedents/commercial-and-corporate-advisory/form-asic-388-financial-reports"
type: "precedent"
site: "AI Law Framework"
id: "a1-form-asic-388-financial-reports"
area_id: "A1"
kind: "form"
ai_level: "yellow"
version: 1
task_ids: ["A1-X20260927-3"]
law_stated_as_at: "2026-10-22"
---

# ASIC Form 388: copy of financial statements and reports

> Link to ASIC Form 388, the cover for annual financial reports lodged by the companies and schemes named on the form page. The page says there is no fee for the rows it lists.

Canonical page: https://ailawframework.com/precedents/commercial-and-corporate-advisory/form-asic-388-financial-reports  
Law stated as at: 2026-10-22

Site index for agents: https://ailawframework.com/llms.txt

## Key facts

- Kind: Form. A form to complete, or a guide to completing an official one.
- Practice area: [Commercial & Corporate Advisory](https://ailawframework.com/precedents/commercial-and-corporate-advisory.md)
- Jurisdictions: Commonwealth
- AI level: Yellow. You and the tool draft together, with you directing. You check every statement you rely on.
- Law stated as at: 2026-10-22
- Status: Maintained. Checked on 2026-10-22 against the official form at asic.gov.au and the 2 authorities it cites, for Commonwealth.

## When to use it

Use when a public company, a large proprietary company, a small proprietary company controlled by a foreign company, a disclosing entity or a registered scheme lodges annual financial reports with Form 388.

## Used for these tasks

- [Assemble the annual review file and the directors' solvency resolution](https://ailawframework.com/practice/commercial-and-corporate-advisory/assemble-the-annual-review-file-and-the-directors-solvency-resolution.md)

## How AI may be used

Yellow. A tool may compare a working note with the current official form and list what is missing. The lawyer downloads the form, completes it and lodges it.

**AI may:**

- List the facts and documents the official page says to have ready.
- Compare a working checklist with the current downloaded form and mark gaps.
- Prepare a filing note that quotes only what the official page says.

**AI must not:**

- Do not copy the official form into a new document or file a retyped version.
- Do not invent a form number, fee, time limit or rule that is not on the official page.
- Do not draft, settle or sign an affidavit or other sworn evidence.
- Do not lodge the form or tell the client it has been filed.

**The lawyer checks:**

- Use Form 388 for the annual financial report, directors' report and auditor's report, as the page describes.
- Listed companies relying on the electronic-lodgement instrument named on the page do not have to use Form 388.
- A sustainability report uses Form 398 as well, in the cases the page sets out.
- Information Sheet 30 gives the late-fee timing. It is not the same for every entity.

## Authorities

- [ASIC Form 388, copy of financial statements and reports.](https://www.asic.gov.au/regulatory-resources/forms/forms-folder/388-copy-of-financial-statements-and-reports)
- [Information Sheet 30, Form 388 lodgement timing.](https://www.asic.gov.au/for-business-and-companies/forms-and-fees/all-fees/fees-for-commonly-lodged-documents)

## Official form

[Official form](https://www.asic.gov.au/regulatory-resources/forms/forms-folder/388-copy-of-financial-statements-and-reports)

## Where this comes from

The official form is published by asic.gov.au; this page is a completion guide. Last checked on 2026-10-22.

## Full text and drafting notes

The full text and the drafting notes are not part of this public page. Signed-in firm accounts can read them at https://ailawframework.com/precedents/commercial-and-corporate-advisory/form-asic-388-financial-reports and through the signed-in MCP connector https://ailawframework.com/mcp/firm.

*Practice guidance for planning and review. Confirm current primary sources and the requirements of the actual matter. This is general information, not legal advice.*