---
title: "ASIC Form 507: report on company activities and property"
url: "https://ailawframework.com/precedents/insolvency-restructuring-and-bankruptcy/form-asic-507-report-company-activities"
type: "precedent"
site: "AI Law Framework"
id: "a8-form-asic-507-report-company-activities"
area_id: "A8"
kind: "form"
ai_level: "yellow"
version: 1
task_ids: ["A8-T1-R2", "A8-A20260923-1"]
law_stated_as_at: "2026-10-22"
---

# ASIC Form 507: report on company activities and property

> Link to ASIC Form 507, the report on company activities and property at the start of an external administration. Part B is not part of the form and is not lodged.

Canonical page: https://ailawframework.com/precedents/insolvency-restructuring-and-bankruptcy/form-asic-507-report-company-activities  
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: [Insolvency, Restructuring & Bankruptcy](https://ailawframework.com/precedents/insolvency-restructuring-and-bankruptcy.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 authority it cites, for Commonwealth.

## When to use it

Use when the financial status of a company at the start of an external administration is reported on Form 507. Form 507A is a related verifying statement. Its page was not opened.

## Used for these tasks

- [Prepare appointment papers for administration, liquidation or receivership](https://ailawframework.com/practice/insolvency-restructuring-and-bankruptcy/prepare-appointment-papers-for-administration-liquidation-or-receivershi.md)
- [Build a first-day creditors and security-interest map](https://ailawframework.com/practice/insolvency-restructuring-and-bankruptcy/build-a-first-day-creditors-and-security-interest-map.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, statutory declaration or other sworn evidence.
- Do not lodge the form or tell the client it has been filed.

**The lawyer checks:**

- The page says Form 507 is Part A only. Do not lodge Part B with ASIC.
- No fee. Late fees on the page are $102 and $428. The lodging period is stated as not applicable.
- The PDFs were last updated 1 August 2022. They were not opened.
- Form 507A is named as the statement verifying a report under section 475(1). Do not describe it. Its page was not opened.

## Authorities

- [Form 507 page.](https://www.asic.gov.au/regulatory-resources/forms/forms-folder/507-report-on-company-activities-and-property)

## Official form

[Official form](https://www.asic.gov.au/regulatory-resources/forms/forms-folder/507-report-on-company-activities-and-property)

## 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/insolvency-restructuring-and-bankruptcy/form-asic-507-report-company-activities 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.*