Yes! You can use AI to fill out Due Diligence Form (Australian Company) – The Perth Mint

People often enter the business/trading name in the “Full Name of Company” field because that’s what they use day-to-day. This can cause mismatches against ASIC records and delay due diligence checks or trigger requests for clarification. Always use the exact legal name as shown on the ASIC company statement, and put any alternate name only in the “Business/Trading Name (if any)” field. AI-powered tools like Instafill.ai can pull the correct legal name from your source documents and keep names consistent across fields.

A very common error is pasting an ABN (11 digits) into the ACN field (9 digits), or adding spaces/extra characters that make the number fail validation. This can prevent the company from being correctly identified and may lead to rejection or follow-up requests. Confirm you are entering the 9-digit ACN exactly as shown on the ASIC statement (typically formatted as 3-3-3 digits). Instafill.ai can validate number length and formatting automatically to prevent this mistake.

The form repeatedly states “NO POSTAL ADDRESSES OR PO BOXES” for shareholders, decision makers, and the authorised representative, but applicants still use mailing addresses out of habit. This can cause KYC failure because identity/address verification requires a physical residential address. Use a current street address with unit/level details where applicable, and ensure it matches supporting documents (or provide an address document if the photo ID doesn’t show it). Instafill.ai can flag PO Box patterns and prompt for a compliant street address.

Applicants often duplicate the same address in both sections or accidentally swap them, especially when the business operates from a different location than the registered office. This creates inconsistencies with ASIC records and can trigger manual review. Only complete “Principal Place of Business” if it is different from the registered office, and ensure each address is complete (street, city/town, state, postcode, country). Instafill.ai can detect duplicates and guide conditional completion so only the correct section is filled.

People frequently enter only a street address and forget the separate locality fields, or they use non-standard abbreviations (e.g., “WAus” or missing state/territory). Missing or inconsistent address components can prevent successful verification and slow onboarding. Always complete every address sub-field and use standard Australian state/territory abbreviations (e.g., WA, NSW, VIC) and correct postcodes. Instafill.ai can standardize and validate address components to reduce omissions.

The form requires phone numbers “including country code” (and for the authorised representative, “including area code”), but many people enter local-only numbers. This can lead to failed contact attempts and delays in resolving KYC queries. Use international format (e.g., +61 … for Australia) and include the appropriate area/mobile format. Instafill.ai can automatically format phone numbers into the correct international structure.

Checkbox questions are often left blank, ticked ambiguously, or both options are marked—especially on printed/scanned forms. This creates uncertainty and typically results in the form being returned for correction. Ensure exactly one option is selected for each YES/NO question and that the mark is clear and legible. Instafill.ai can enforce single-choice selection and reduce ambiguity when generating a clean, fillable output.

Applicants sometimes tick “Yes” but leave the follow-up fields empty because they overlook the conditional requirement or assume it’s optional. This leads to incomplete due diligence and immediate follow-up requests. If you answer “Yes,” provide the requested specifics (e.g., PEP name/role/relationship; exchange name; regulator name and registration/licence number). Instafill.ai can prompt for required conditional fields and prevent submission until they’re completed.

The form states: “IF YOU ANSWERED ‘YES’ TO ANY OF THE ABOVE QUESTIONS, SKIP TO SECTION FIVE - DIRECTORS,” but many people continue to fill shareholder/decision-maker sections anyway (or skip when they shouldn’t). This can create conflicting information and extra review work, delaying approval. Follow the branching logic exactly: if any Section Two item is “Yes,” go straight to Section Five; if all are “No,” complete the shareholder section as instructed. Instafill.ai can apply this logic automatically so only the relevant sections are completed.

A frequent misunderstanding is listing only immediate shareholders and missing indirect ownership (e.g., via a corporate shareholder), or failing to identify anyone at/above 25%. This can cause non-compliance with beneficial ownership requirements and lead to requests for ownership charts or additional documentation. Calculate ownership on a total, direct-or-indirect basis and include any person who ultimately owns 25% or more; if none meet the threshold, complete Section Four for controllers/senior managing officials. Instafill.ai can help structure ownership data and flag when the 25% rule likely requires additional entries.

People often enter shareholdings without the percent sign, use rounded estimates, or provide totals that exceed 100% across listed shareholders. This raises red flags and can trigger reconciliation requests or rejection until corrected. Enter precise percentages for each listed shareholder and ensure the overall ownership picture is internally consistent (and aligns with company records). Instafill.ai can validate numeric ranges and highlight totals that appear inconsistent.

Submissions are commonly delayed because the declaration is unsigned/undated, the authorised representative’s position is missing, or the company stamp is omitted when the organisation expects it. Separately, ID documents are often not properly certified, are expired, don’t show current address (without an additional address document), or are not translated by an accredited translator when not in English. Double-check the declaration fields (name, position, signature, date) and ensure all supporting documents are current, correctly certified by an acceptable certifier, and include address evidence where required. Instafill.ai can provide completeness checks and, if the form is a flat non-fillable PDF, can convert it into a fillable version to reduce missed fields and improve legibility.