Tranche 2 deadline: 1 July 2026—39 days remaining
AML/CTF Compliance · Accountants & Tax Agents
AML/CTF Compliance Software for Accountants in Australia — 2026 Deadline
Australian accountants and tax agents are now captured by the AML/CTF Amendment Act 2024. Every practice providing designated accounting services must have a written compliance program in place and enrol with AUSTRAC before 1 July 2026. Klyvon generates your full AML/CTF Program, CDD forms, and AUSTRAC enrolment guide — in under two minutes, for a fraction of consultant fees.
What you need to do
Six steps every Australian accountant must complete before 1 July 2026
Assess whether you are a reporting entity
Under the AML/CTF Amendment Act 2024, accountants and tax agents providing designated accounting services — including tax advice, financial statement preparation, and bookkeeping for clients — are captured as reporting entities. If you provide these services for a fee, you are very likely in scope.
Enrol with AUSTRAC by 29 July 2026
All captured accounting practices must enrol with AUSTRAC via the AUSTRAC Online portal. Enrolment requires your ABN, business details, and information about the designated services you provide. Failure to enrol carries civil penalties of up to $18.5 million for corporations.
Develop and implement an AML/CTF Program
Every reporting entity must have a written AML/CTF Program in place before the 1 July 2026 deadline. This program must cover your risk assessment methodology, customer due diligence (CDD) procedures, staff training obligations, ongoing transaction monitoring, and suspicious matter reporting (SMR) obligations to AUSTRAC.
Appoint a designated Compliance Officer
Your AML/CTF Program must designate a Compliance Officer responsible for overseeing the program, managing AUSTRAC reporting obligations, delivering staff training, and conducting annual reviews. This role must be clearly documented in your program.
Implement Customer Due Diligence procedures
Before providing designated services, you must verify client identity using current AUSTRAC-approved identification procedures. This includes collecting and verifying individual and company details, beneficial ownership, and applying enhanced due diligence where risk factors are present.
Train all staff before the deadline
Every employee involved in providing designated services must receive AML/CTF awareness training before 1 July 2026, and on an ongoing basis thereafter. Training records must be kept as part of your compliance documentation.
How Klyvon helps
Everything your accounting practice needs — in one place
Klyvon Compliance Pro gives accountants and tax agents every document and tool required to meet AUSTRAC’s Tranche 2 obligations — generated for your specific practice, not a generic template.
AML/CTF Program Document
Klyvon generates a complete, firm-specific AML/CTF Compliance Program drafted to the requirements of the AML/CTF Act 2006 and AUSTRAC guidance — including all 8 required sections for accountants.
Client Due Diligence Forms
Ready-to-use CDD templates for individual and corporate clients, built around AUSTRAC's identification requirements for accounting practices.
AUSTRAC Enrolment Guide
A step-by-step walkthrough of the AUSTRAC Online enrolment process — so you can complete registration correctly the first time.
SMR Template and Filing Guide
A Suspicious Matter Report template and plain-English guidance on when and how to submit reports to AUSTRAC, including the 24-hour rule for terrorism financing.
Staff Training Quiz
An interactive AML/CTF awareness quiz with a printable certificate of completion — covering everything your staff need to know before 1 July 2026.
Compliance Calendar
A pre-built compliance calendar tracking AUSTRAC enrolment deadlines, quarterly review dates, and annual program review milestones specific to your practice.
Start today
Get your AML/CTF Program sorted before the deadline
Start a 7-day free trial. Enter your firm details and Klyvon generates your full AML/CTF Compliance Program — including all 8 required sections, your CDD templates, and your AUSTRAC enrolment guide. Cancel anytime before your trial ends.
Common questions
Frequently asked questions — accountants and AML/CTF
Are all accountants in Australia captured by the new AML/CTF laws?
The AML/CTF Amendment Act 2024 captures accountants and tax agents who provide designated accounting services — including tax advice, bookkeeping, financial statement preparation, and related services — for a fee. Most practising accountants and registered tax agents will be in scope. If you are unsure, Klyvon's free scope check tool can assess your specific circumstances in under two minutes.
What is the penalty for non-compliance?
Civil penalties under the AML/CTF Act 2006 (Cth) can reach $18.5 million for corporations and $3.7 million for individuals per contravention. Criminal penalties also apply for serious and wilful non-compliance. AUSTRAC has demonstrated willingness to pursue enforcement action — including record penalties against major Australian financial institutions.
Can I use a generic AML/CTF template?
AUSTRAC requires your AML/CTF Program to be tailored to the specific ML/TF risks of your practice — including your client base, services, delivery channels, and jurisdiction. A generic template that does not reflect your actual business is unlikely to satisfy the requirements and could expose you to regulatory risk. Klyvon generates a program specific to your firm, industry, and Compliance Officer.
How long does it take to get set up with Klyvon?
Most accounting practices complete their initial setup — including generating their AML/CTF Program, downloading their CDD forms, and working through the AUSTRAC enrolment guide — within a single afternoon. Your compliance program document is generated in under two minutes.
What if my practice is very small — do I still need to comply?
Yes. There is no minimum size threshold under the AML/CTF Act. A sole-practitioner tax agent providing designated services is as much a reporting entity as a large accounting firm. The obligations scale somewhat in practice — a smaller firm may have a simpler risk profile — but the requirement to have a written program, enrol with AUSTRAC, and conduct CDD applies equally.
Is Klyvon a substitute for legal advice?
Klyvon generates compliance documents based on AUSTRAC guidance and Australian legislation, and is designed to give small accounting practices a practical starting point. The documents are not legal advice. For complex arrangements, high-risk client bases, or where you are uncertain about your obligations, we recommend reviewing your program with a qualified AML/CTF specialist.
Don’t leave your AML/CTF compliance to the last minute.
1 July 2026 is closer than it looks. Start your free trial today.