All company directors now have a legal obligation to apply for a Director Identification Number (Director ID) and time is running out to register.
A director ID is a unique 15-digit identifier that is aimed at preventing the use of false or fraudulent director identities. It is free to apply and you only need to apply once and will keep your director ID forever. Here is a break down of what you need to know.
Who needs a director ID?:
- a company
- an Aboriginal and Torres Strait Islander corporation
- a corporate trustee (for example, of a self-managed super fund)
- a charity or not-for-profit organisation that is a company or Aboriginal and Torres Strait Islander corporation
- a registered Australian body (for example, an incorporated association that is registered with the Australian Securities and Investments Commission (ASIC) and trades outside the state or territory in which it is incorporated)
- a foreign company registered with ASIC and carrying on business in Australia (regardless of where you live).
When to apply for a Director Identification Number:
The deadline for applying for a director ID depends on when you become a director:
- Existing directors have until 30 November 2022 to apply,
- Directors appointed between 1 November 2021 and 4 April 2022 must apply within 28 days of their appointment, and
- From 5 April 2022, intending directors must apply before they are appointed.
How to apply for a director ID:
- Online through myGovID account (requires a Standard or Strong identity strength)
- by telephone with the ABRS – Call 13 62 50
- by lodging a paper form from ABRS Website
The application needs to be completed by each individual director. Your BAS, Tax or ASIX agent can not apply on your behalf but they can help you understand the new requirement, and if you need to apply and by when.
For further information and a step-by-step guide on how to apply for your director ID, please visit the Australian Business Registry Services (ABRS) website.
