ASIC Form 5289 Requires Notice of PDS Fee Changes for CCIV Sub-Funds Within 5 Business Days

Key Takeaways

• ASIC's Form 5289 is the prescribed notice that a CCIV (Corporate Collective Investment Vehicle) sub-fund's responsible person must lodge when fees and charges in the PDS's enhanced fee disclosure table change.
• The lodgement window is short, at 5 business days, and late fees apply.
• Compliance teams should confirm that fee-change processes trigger this notice on time.

Deep Dive

ASIC's Form 5289 is the prescribed notice that a CCIV (Corporate Collective Investment Vehicle) sub-fund's responsible person must lodge when fees and charges in the PDS's enhanced fee disclosure table change. The lodgement window is short, at 5 business days, and late fees apply. Compliance teams should confirm that fee-change processes trigger this notice on time.

The key requirement is that a notice must be lodged when fees and charges change in the enhanced fee disclosure table. This applies whether the table sits in the PDS, in an existing Supplementary PDS, or is applied, adopted or incorporated by a shorter PDS. The templates are in items 201 and 202 of Schedule 10 to the Corporations Regulations. The form requires responsible person details (name, ABN, ACN, AFS licence number), contact details, the original PDS name and reference number, the date of the original PDS, and the date the fees changed. It also asks whether new products have been added and, if so, product details, including the ARFN for a CCIV sub-fund. The reference number must exactly match the one on the original Form 5288 in-use notice. A director or company secretary of the corporate director must sign and certify that the information is true and complete.

The deadline is as soon as practicable and in any event within 5 business days after the fee change. There is no lodgement fee, but late fees apply in all cases where the form is lodged outside the prescribed period. A form is not considered lodged until ASIC receives it and accepts it as complying with s1274(8). The notice is not required where a PDS or Supplementary PDS must itself be lodged under s1015B (see s1015D(1)). The notice must be lodged by the responsible person nominated in the Form 5288.

Recommended actions:
- Add Form 5289 lodgement to fee-change workflows, with a documented trigger and a 5-business-day internal deadline.
- Verify that the PDS reference numbers match those in Form 5288 filings.
- Confirm signatory authority (director or company secretary of the corporate director) and keep certification evidence.
- Assess whether a fee change requires a lodged Supplementary PDS instead, which removes the notice requirement.
- Retain proof of lodgement and ASIC acceptance, since receipts are issued only on request.

Risk implications: Missed or inaccurate notices create late fee exposure and regulatory scrutiny of disclosure controls. Mismatched reference numbers can undermine ASIC's PDS monitoring. The overall impact is low to moderate, but it can become a recurring breach if fee governance and regulatory reporting are not aligned.

Source: Australian Securities and Investments Commission