Calling all Directors!
Are you a director of one of the following entities?
- A company,
- Registered Australian body, such as an incorporated association,
- A registered foreign company or,
- Aboriginal & Torres Strait Islander corporation,
If so, you will need to obtain a Director Identification Number DIN (Director ID) by the dates below.
What is a Director ID Number?
A Director Identification Number (DIN) is a 15-digit number given to a director or someone who intends to be a director and has identified themselves with the Australian Business Registry Services (ABRS).
It’s the director’s responsibility to apply for their Director ID. It is free to apply. There will only ever be one Director ID given to you as a director. This remains with the director regardless of whether they change companies, stop being a director, change their name, or move interstate or overseas.
Why do you need a Director ID?
In simple terms, you need this so creditors, shareholders, employees, consumers, administrators and regulators know the names and specific details of directors of a company.
Having a Director ID will achieve the following:
- Prevent the use of false or fraudulent director identities
- Make it easier for external administrators and regulators to trace directors’ relationships with companies over time.
- Identify and eliminate director involvement in unlawful activity, such as illegal phoenix activity.
Important Dates to Apply By:
Applying for your ID number depends on your date of becoming a director.
You can apply for a Director ID from 1 November 2021.
|Date you Become a Director||Date you Must Apply|
|On or before 31 October 2021||By 30 November 2022|
|Between 1 November 2021 and 4 April 2022||Within 28 days of appointment|
|From 5 April 2022||Before appointment|
To be a director, under the Corporations Act, you must:
- Be an individual who is at least 18 years old.
- Not be disqualified from managing corporations unless the appointment is made with the permission of ASIC or the Court.
What are the director obligations regarding a Director ID?
Your Director Identification Number (DIN) obligations include:
- Applying for a DIN within the relevant timeframe for your situation.
- Applying for a DIN when directed by the Registrar to do so.
- Ensuring you only apply for no more than one DIN (unless directed by the Registrar to do so).
- Not misrepresenting your DIN to a Commonwealth body, company, registered Australian body or Aboriginal and Torres Strait Islander corporation.
- Making sure you are not involved in breaching any of the above DIN obligations.
You must meet the above obligations. Serious consequences may apply if you are unable to meet the duties required. These include:
- Possible civil or criminal penalties, or
- You may be issued with an infringement notice.
How do you apply for your Director ID?
You can apply in three easy steps:
- 1 – Set up myGovID
- 2 – Gather your documents
- 3 – Complete your application on the abrs.gov.au website once it has been set up after 1 November 2021.
If you need further information, you can refer to the following link for more details:
Remember, it is a legal requirement to obtain a Director ID, so please ensure you contact our office if there is a problem completing these steps by the due date or if you have any questions.