Tranche 2 has been live since 1 July 2026.
Roughly 90,000 firms are now reporting entities.

1 July 2026. The AML/CTF Amendment Act 2024 (Cth) passed Parliament in November 2024 and extends the reporting-entity regime under the AML/CTF Act 2006 (Cth) to accountants, law firms, real estate agents, trust and company service providers, and precious metals dealers on that date.

Roughly 90,000 Australian businesses: approximately 36,717 accountants and tax agents, about 36,700 lawyers (78% in sole or small practice), 45,440 real estate agencies, plus trust and company service providers and precious metals dealers. The capture is services-based: an entity is a reporting entity only in respect of the designated services it provides.

31 March 2026. A business already providing a designated service on 1 July 2026 had until 29 July 2026 to enrol, and that deadline has passed. A business that starts providing a designated service later must apply to enrol within 28 days of starting. Enrolment is via AUSTRAC Online. If you were captured on 1 July and have not enrolled, AUSTRAC's published position is that enrolment is still required, and on 28 August 2026 it began issuing notices to businesses that appear to be providing designated services without having enrolled.

Enrol with AUSTRAC; adopt an AML/CTF program (Part A risk assessment plus Part B customer due diligence); appoint an AML Compliance Officer; run customer identification and verification; report suspicious matter reports (SMRs) and threshold transaction reports (TTRs) of AUD 10,000 or more. Records are retained for seven years.

Ironbark is an AU-native compliance check product. In one check it verifies a customer entity against the Australian Business Register, the ASIC company and director registers, the ASIC banned-and-disqualified-persons register, the AUSTRAC reporting-entity and enforcement registers, the DFAT consolidated sanctions list, and the Federal Court of Australia. The report is a timestamped PDF plus JSON artefact for the reporting entity's seven-year record. $0.49 per check. Credits never expire.

No. Ironbark discharges the verification component of customer due diligence. The AML/CTF program document, the AMLCO appointment, the SMR and TTR reporting workflow, and seven-year record-keeping remain the reporting entity's responsibility. Industry associations (CPA Australia, Law Societies, REIA branches) publish template programs and templates. Those plus Ironbark plus an AMLCO is the common minimum setup for a sole practice.

A threshold transaction is one involving the receipt, payment, or transfer of AUD 10,000 or more (or its foreign-currency equivalent) where the reporting entity is a party. Structured transactions (multiple transactions deliberately kept below the threshold) are also caught. A TTR must be lodged with AUSTRAC within 10 business days of the transaction.

The primary instruments are the AML/CTF Act 2006 (Cth), the AML/CTF Rules Instrument 2007 (No. 1), and the AML/CTF Amendment Act 2024 (Cth). AUSTRAC publishes plain-language guidance and worked examples on its website. Industry associations (Law Council of Australia, CPA Australia, REIA) publish sector-specific commentary.