Director Identification Number. Do you have yours yet?
21 December 2021
- Company directors need to verify their identity as part of a new director identification number (director ID) requirement
- A director ID is a unique identifier that a director will apply for once and keep forever – which will help prevent the use of false or fraudulent director identities.
- When you must apply depends on when you were appointed as a director.
All directors of a company, registered Australian body, registered foreign company or Aboriginal and Torres Strait Islander corporation will need a director ID.
Corporations Act directors
When you must apply depends on when you were appointed as 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.
- From 5 April 2022, intending directors must apply before being appointed.
The new Australian Business Registry Services (ABRS) is responsible for administering the director ID initiative.
ASIC is responsible for enforcing director ID offences set out in the Corporations Act 2001. It is a criminal offence if you do not apply on time.
Source: The Australian Securities and Investments Commission (ASIC)