From November 2021, directors will need apply for a director identification number (director ID) to verify their identity in order to meet new requirements introduced by the government.
This new requirement will apply to directors of companies, corporate trustees, foreign companies registered with ASIC, Aboriginal and Torres Strait Islander corporations, charity or non-profit organisations that are registered as a company, and incorporated associations that are registered with ASIC.
So, what is a director ID and why do you need one?
A director ID is a unique 15-digit identifier that you apply for once and keep forever. Director IDs have been introduced to prevent the use of false or fraudulent director identities, to detect and eradicate director involvement in unlawful activity, and to simplify the process of tracking director relationships with companies over time.
If you were appointed as a director on or before 31 October 2021, you must apply for your director ID by 30 November 2022. If you are appointed between 1 November 2021 and 4 April 2022, you must apply within 28 days of being appointed. Beyond 5 April 2022, aspiring directors will need to apply before they are appointed.
You can apply for your director ID online by downloading and verifying your identity on the myGovID app (please note, this is different to your myGov account). Following that, you can complete your application for a director ID. Alternatively, you may apply over the phone or with a paper form.
More information about director IDs and how to apply can be found on the Australian Business Registry Service’s website https://www.abrs.gov.au/director-identification-number
Author
Danielle Nelson
