As part of the government’s Modernising Business Registers Program, from 1 November 2021, all directors will need to apply for a Director ID (formerly referred to as Director Identification Numbers or DINs). You will be issued with one Director ID that will link across all director positions and you will hold this number for life.
Any person –
- who became a director prior to 31 October 2021 must apply for their Director ID by 30 November 2022
- becoming a director after 31 October 2021 must apply within 28 days of their appointment as a director.
From 5 April 2022, all directors must have their Director ID prior to their appointment.
You will need a Director ID if you are a director of any of the following:
- Aboriginal or Torres Strait Islander Corporation;
- Corporate trustee;
- Charity or not-for-profit organisation that is a company or Aboriginal and Torres Strait Islander Corporation;
- Registered Australian body ie. an incorporated association that is registered with the Australian Securities and Investments Commission (ASIC) and trades outside the state or territory in which it is incorporated; and
- Foreign company registered with ASIC and carrying on business in Australia (irrespective of where you live)
You do not need a Director ID if you act solely as a secretary.
How to apply:
The first step is to set up your MyGovID, if you haven’t already done so. Please note, MyGovID is a different service from MyGov. You will need to achieve at least a Standard MyGovID identity strength to apply for the Director ID.
To set up your MyGovID, go to the following webpage: https://www.mygovid.gov.au/
You can set up your MyGovID app now, in anticipation for your Director ID application.
Foreign resident directors will need to set up a Basic MyGovID identity strength first and then verify their identity by submitting a paper application with certified copies of one primary and one secondary identity document. Blaze Acumen can assist you with the application at the appropriate time.
The full list of identity documents can be found under “Verify your identity” on the ABRS webiste: https://www.abrs.gov.au/director-identification-number
From 1 November 2021, with your MyGovID already set up, you will then be able to apply for your Director ID. You will need some information that will identify you with the ATO including the following:
- Your Tax File Number (TFN)
- Residential address as recorded with the ATO
- Information from two documents to verify your identity:
– Bank account details
– ATO notice of assessment
– Super account details
– A dividend statement
– Centrelink payment summary
– PAYG payment summary
You will be able to apply for your Director ID here: https://www.abrs.gov.au/director-identification-number
Alternatively contact your Blaze Acumen advisor for assistance.
For further information on the modernisation of business registers and why Director IDs are being introduced, please refer to our Client Alert issued on 29 July 2020 here: https://www.blazeacumen.com.au/no-70-director-identification-numbers-din/