You may recall our article about the introduction of director IDs in our October newsletter. The transitional period, during which many directors have 28 days to acquire their director ID from the date of their appointment, is now drawing to a close. From 5 April 2022, new requirements regarding director IDs and when you should apply will come into effect.
To avoid penalties, it is imperative that new and existing directors obtain their director IDs by the required date as outlined in the table below:
Date you became a Director Date you MUST apply for your director ID
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
Failing to obtain a director ID within the required timeframe is considered a strict liability offence, and may result in fines as high as $13,200 for a criminal offence, and up to $1,100,000 if the court deems it appropriate to impose a civil penalty.
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. For a seamless application process, we recommend that you submit your application from your desktop or laptop. 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.
Author
Danielle Nelson
