The Australian Business Registry Service (ABRS) is responsible for the implementation and administration of the new Director Identification Number (Director ID) regime.
A Director ID is now required for anyone who is a director or alternate director of:
- a company, registered Australian body, or 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).
It is a criminal offence if directors do not submit their applications on time.
What is a Director ID?
A Director ID is a verified 15-digit identifier designed to prevent fraudulent director identities and unlawful activity. It is unique to the individual and remains the same even for directors of multiple companies, or if directors move interstate or overseas. It is free to apply.
When do I have to apply by?
Directors or alternate directors under the Corporations Act appointed on or before 31 October 2021 must apply for a Director ID by tomorrow, 30 November 2022.
Any directors appointed between 1 November 2022 and 4 April 2022 had a deadline of 28 days from their appointment to apply. If you became a director from 5 April 2022 or intend to be a director, you must now apply for a Director ID before being appointed.
Directors or alternate directors of companies under the CATSI Act have a different time frame in which to apply.
How do I apply?
If you live in Australia and do not have a myGovID, you will need to create one. At least two Australian identification documents will be required – for example, your driver’s licence and Medicare card.
In order to apply for a Director ID, you may need to provide (along with your myGovID) your tax file number, residential address as held by the Australian Tax Office (ATO), and information from at least two documents to verify your identity – these documents can include (but are not limited to) bank account details the ATO has on record, a PAYG payment summary, or a dividend statement.
If you cannot get a myGovID (as you live outside of Australia or for other reasons), you will need to apply by phone or fill out the paper application form.
What happens if I miss the deadline?
Directors are required to apply for a Director ID in the applicable timeframe. You can, however, apply for an extension of time if required. Failure to apply for a Director ID by the deadline is a criminal offence that carries a maximum penalty of $13,200 (criminal) or $1,100,000 (civil) for individuals. Applying for multiple Director IDs and misrepresenting a Director ID are both also criminal offences. This is enforced by ASIC.
For information about the Director ID or for advice, please contact:
Jaimi Johanson, Associate
(03) 8600 8893 or firstname.lastname@example.org
Note: This update is a guide only and is not intended to constitute legal advice.