New Director ID Requirements
The Australian Government now requires all current and prospective Directors to apply for a unique identification number (‘DIN’). This DIN becomes part of your identity as a director, with you being required to provide it to the record-holder in your current company and any company you are appointed to in the future.
Directors will only ever have one DIN in which they will keep it forever even if they:
- Change companies; or
- Stop being a director; or
- Change their name; or
- Move interstate or overseas.
You need a director ID if you are appointed as a director or are acting in that capacity for:
- A company, a registered Australian body, or a registered foreign company under the Corporations Act 2001 (‘Corporations Act’); or
- An Aboriginal and Torres Strait Islander corporation registered under the Corporations (Aboriginal and Torres Strait Islander) Act 2006(‘CATSI Act’).
You do not need a director ID if you are:
- A company secretary but not a director.
- Acting as an external administrator of a company.
- Running a business as a sole trader or partnership.
- Referred to as a ‘director’ in your job title but have not been appointed as a director under the Corporations Act or the CATSI Act.
- A director of a registered charity with an organisation type that is not registered with ASIC or ORIC to operate throughout Australia.
- An officer of an unincorporated association, cooperative or incorporate association established under state or territory legislation, unless the organisation is also a registered Australian body.
Accordingly, all directors are required to verify their identify with the Australian Business Registry Services prior to receiving a DIN. This is important as it will help prevent the use of fraudulent director identities, assist external administrators, and identify and eliminate director involvement in unlawful activity.
Pursuant to this new initiative you are required to apply for your director ID depending on the date you became or become a director (see below).
Date you become a director
- On or before 31 October 2021
- Between 1 November 2021 and 4 April 2022
- From 5 April 2022
Date you must apply
- By 30 November 2022
- Within 28 days of appointment
- Before appointment
Should you have any question in relation to the above or if you require our assistance in that regard, please do not hesitate to contact our office.