AUSTRAC overhauls AML/CTF transaction reporting from 1 July 2026
AML/CTF reporting teams must move to AUSTRAC's new TTR and SMR forms from 1 July 2026
Change
On 28 May 2026, AUSTRAC announced new threshold transaction report (TTR) and suspicious matter report (SMR) forms effective 1 July 2026 under Australia's AML/CTF reforms; newly-regulated businesses must use them from day one, while entities enrolled by 30 March 2026 have a transition window to 30 March 2029.
Why it matters
The new TTR and SMR forms change the information collected and the AUSTRAC Online submission experience, and the reforms expand the industries AUSTRAC regulates. Newly-regulated businesses' obligations commence 1 July 2026 with no transition — they must use the new forms immediately, and should enrol before the 29 July deadline to access preview forms and training. Existing reporting entities (enrolled by 30 March 2026) may transition between 1 July 2026 and 30 March 2029, allowing phased system changes. Cross-border movement and international funds transfer reporting are unchanged at this stage.
Implications
- — AML/CTF reporting teams at newly-regulated businesses must be ready to submit TTRs and SMRs on the new forms from 1 July 2026 with no transition period, and should enrol with AUSTRAC before the 29 July deadline to access preview forms and training, or risk non-compliant reporting from day one of regulation.
- — Compliance and reporting-systems teams at existing reporting entities (enrolled by 30 March 2026) must plan their migration to the new TTR and SMR forms within the 1 July 2026 – 30 March 2029 transition window, updating reporting systems, the individual reporting method, dashboard and receipts handling accordingly.
- — Businesses uncertain whether they fall within the expanded regulated population must check their status and enrol if caught, since reporting obligations begin at regulation commencement on 1 July 2026.
Who is affected
- — AML/CTF reporting and compliance teams at newly-regulated Australian businesses
- — Compliance and reporting-systems teams at existing AUSTRAC reporting entities
- — Businesses assessing whether they fall within the expanded AML/CTF regulated population
What to watch
- — 1 July 2026: new TTR/SMR forms go live; newly-regulated businesses' obligations commence and they must use the new forms immediately. 29 July: enrolment deadline to access preview forms and training. 30 March 2029: end of the transition window for existing reporting entities to move to the new forms.