For Australian IBOs, registering your ABN details with ACN is an important requirement. Doing so makes sure you receive all earned bonuses and commissions in a timely manner. If you do not provide ACN with your ABN details, then any payments you may be entitled to will be placed on hold.
How do I apply for an ABN?
Applying for an ABN is free and can be done quickly online by visiting https://abr.gov.au/.
You will just need to provide some personal details and information about your business activity and business structure (eg: if you are a sole trader, partnership, company or trust) after which you should receive an ABN within the next 28 days.
How do I advise ACN of my ABN?
Once you receive your ABN you need to advise ACN.
The easiest way is to:
- Go to IBO Back Office and login
- Select “Preferences” in the top right corner
- Select “Personal Information” from the left hand menu
- Update your information and select “Submit”
If there is a hold on payments, this will then be lifted in the next 7 days if the information provided is correct.
Remember, you will also need to provide ACN with Direct Deposit details before we can start making payments for your earned bonuses and commissions. This can also be done in the Personal Information section on IBO Back Office.
Please note, you will need to make sure the name of your bank account details match your ABN details. For example, if you have registered as a sole trader your bank account name should be in your name or if you have registered as a company then your bank account name should be the same as your company name.
Following these steps will help make sure you are paid any earned bonuses or commissions promptly.
