Tranche 2 deadline: 1 July 2026—40 days remaining
AUSTRAC Tranche 2 · Eligibility Checker
Do I need to register with AUSTRAC?
From 1 July 2026, thousands of Australian businesses become AUSTRAC reporting entities for the first time. Answer three questions to find out if your business is captured — and what Klyvon's AI can generate for you in 60 seconds.
Eligibility checker
Is my business a reporting entity under AUSTRAC Tranche 2?
Answer the questions below to get an indicative result. Based on the AML/CTF Act 2006 as amended by the AML/CTF Amendment Act 2024.
What type of business do you operate?
Select the option that best describes your practice.
Common questions
Common questions about AUSTRAC Tranche 2 eligibility
Do I need to register with AUSTRAC under Tranche 2?
Whether you need to register with AUSTRAC depends on whether your business provides a designated service under the AML/CTF Act 2006 (Cth) as amended by the AML/CTF Amendment Act 2024. Designated services now include legal services involving property transactions, trust and company formation, and client fund management; accounting services involving company or trust formation, nominee director arrangements, and client fund management; real estate purchase and sale transactions; conveyancing; and dealings in precious metals, stones, and pawnbroking. If your business provides any of these services, you must enrol with AUSTRAC by 29 July 2026.
What is a designated service under the AML/CTF Act?
A designated service is a service listed in Table 6 of section 6(5B) of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth), as inserted by the AML/CTF Amendment Act 2024. Designated services capture Tranche 2 industries including law firms (for property, company formation, and client fund services), accounting practices (for company formation, client fund, and nominee arrangements), real estate agents acting on purchase or sale transactions, conveyancers, dealers in precious metals and stones, and pawnbrokers.
What is a reporting entity under AUSTRAC?
A reporting entity is a person or business that provides one or more designated services under the AML/CTF Act 2006. Reporting entities must enrol with AUSTRAC, implement an AML/CTF Program, conduct customer due diligence, submit Threshold Transaction Reports for cash transactions of $10,000 or more, submit Suspicious Matter Reports when money laundering or terrorism financing is suspected, and maintain records for at least 7 years. Source: AML/CTF Act 2006, ss.6, 76, 32–35, 41, 43, 112.
When do Tranche 2 obligations start in Australia?
Tranche 2 AML/CTF obligations commence on 1 July 2026 under the AML/CTF Amendment Act 2024. From this date, newly captured businesses — including lawyers, accountants, real estate agents, conveyancers, jewellers, and pawnbrokers — must comply with all AML/CTF Act obligations. The enrolment deadline with AUSTRAC is 29 July 2026. Businesses should appoint a compliance officer and notify AUSTRAC by 30 May 2026.
What is the AUSTRAC enrolment deadline for Tranche 2?
The AUSTRAC enrolment deadline for Tranche 2 reporting entities is 29 July 2026. Businesses must register at online.austrac.gov.au with their ABN and details of the designated services they provide. Operating as a reporting entity without enrolling is a contravention of the AML/CTF Act 2006 and may attract civil or criminal penalties. Enrolment is available from 31 March 2026.
Are all lawyers required to comply with AUSTRAC?
Not all lawyers are required to comply. Law firms are captured under Tranche 2 only when they provide specific designated services: acting in property purchase or sale transactions, forming companies or trusts, providing nominee director arrangements, managing client funds, or providing registered office services. Litigation firms and practices providing only general legal advice without any of these services are generally not reporting entities. Source: AML/CTF Act 2006, s.6(5B), Table 6.
Are accountants regulated under AUSTRAC Tranche 2?
Accountants are regulated under Tranche 2 only if they provide specific designated services: forming companies or trusts on behalf of clients, acting as a nominee director or shareholder, managing or controlling client funds, or providing registered office services. Practices that provide only tax return preparation, BAS lodgement, bookkeeping, and financial reporting are generally not captured. Source: AML/CTF Act 2006, s.6(5B), Table 6.
Are real estate agents required to enrol with AUSTRAC?
Real estate agents who act on property purchase or sale transactions are required to enrol with AUSTRAC and comply with AML/CTF obligations from 1 July 2026. This includes buyers agents and buyers advocates. Agents who provide only residential property management — leasing, rent collection, and maintenance — without acting on purchase or sale transactions are generally not captured. Source: AML/CTF Act 2006, s.6(5B), Table 6.
Are conveyancers regulated under AUSTRAC Tranche 2?
Yes. Conveyancers are regulated as reporting entities under Tranche 2 of the AML/CTF reforms. Conveyancing — the preparation and execution of documents for the transfer of property — is a designated service under Table 6 of s.6(5B) of the AML/CTF Act 2006. All conveyancers must enrol with AUSTRAC by 29 July 2026 and implement an AML/CTF Program before 1 July 2026.
Are jewellers required to comply with AUSTRAC?
Jewellers and precious metals dealers are required to comply with AUSTRAC if they sell or purchase precious metals, precious stones, or precious products and accept cash or virtual asset payments of $10,000 or more in a single transaction or linked transactions. Bullion dealers are regulated at any transaction value regardless of payment method. Businesses with a documented, strictly enforced policy prohibiting cash of $10,000 or more may not be regulated for precious metals transactions. Source: AML/CTF Act 2006, s.6(5B), Table 6.
What happens if I don't enrol with AUSTRAC by the deadline?
Operating as a reporting entity without enrolling with AUSTRAC is a contravention of the AML/CTF Act 2006 and may attract significant civil or criminal penalties. Under Part 15 of the Act, civil penalties for body corporates can reach $33,000,000 per contravention. Criminal penalties apply for serious or wilful non-compliance. AUSTRAC publishes enforcement actions publicly, creating reputational consequences beyond financial penalties. AUSTRAC has indicated a risk-based enforcement approach, but non-enrolment is a serious breach.
How do I know if my business is a reporting entity?
You are a reporting entity if your business provides one or more designated services listed in Table 6 of s.6(5B) of the AML/CTF Act 2006 as amended by the AML/CTF Amendment Act 2024. Use this eligibility checker to assess your obligations based on your industry and the specific services you provide. You can also check AUSTRAC's official guidance at austrac.gov.au or seek advice from a qualified AML/CTF compliance professional.
What’s next
Once you know you’re regulated — what’s next?
Six steps every newly captured reporting entity must complete before 1 July 2026.
Enrol with AUSTRAC by 29 July 2026
Register at online.austrac.gov.au — you will need your ABN, business details, and the designated services you provide. Enrolment opens from 31 March 2026.
AML/CTF Act 2006, s.76
Appoint an AML/CTF Compliance Officer in writing
Designate a named individual — owner or senior employee — responsible for your compliance program, AUSTRAC reporting, and staff training. Notify AUSTRAC by 30 May 2026.
AML/CTF Act 2006, s.36
Complete a written ML/TF Risk Assessment
Assess your exposure across client types, transaction values, payment methods, and geographic risk — and document it in your Program.
AML/CTF Rules 2007, Part 8
Implement an AML/CTF Program (Part A and Part B)
Your Program must cover CDD procedures, transaction monitoring, TTR obligations, SMR procedures, and your record-keeping policy.
AML/CTF Act 2006, s.84
Train all staff on AML/CTF obligations
Every employee involved in client interaction must receive AML/CTF awareness training before obligations commence and annually thereafter.
AML/CTF Rules 2007, Part 12
Submit TTRs and SMRs when required
Report cash transactions of $10,000 or more within 10 business days. Submit Suspicious Matter Reports within 3 business days — or 24 hours for terrorism financing.
AML/CTF Act 2006, ss.41, 43
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The 29 July 2026 deadline is 40 days away.
Related Resources
AUSTRAC Penalty Register
Every enforcement action since 2006
AML/CTF for Lawyers
What law firms need by 1 July 2026
AML/CTF for Accountants
Tranche 2 obligations for accountants
AML/CTF for Jewellers
Precious metals dealer obligations
AML/CTF for Conveyancers
Conveyancer obligations from 1 July 2026
AML/CTF for Real Estate
Obligations for agents and buyers advocates