From November 2021, directors will need to verify their identity as part of a new director ID requirement, introduced as one of the ways the Federal government is seeking to identify and reduce unlawful and fraudulent activity. If you are a company director, you need to take action.
What is a Director Identification Number?
A Director Identification Number (DIN) is a unique 15-digit number that will help prevent the use of false director identities. The numbers will make it easier to trace relationships across companies and help eliminate illegal behaviours such as phoenix activity.
Once you have a DIN, you will keep it even if you move to a new company.
What do I need to do?
If you are currently a director – or will be acting as a director in the future – you must apply for a director ID. The fastest way to do this is to apply online. Your application date requirement depends on the date you were appointed:
- Existing directors have until 30 November 2022 to apply. If you don’t already have a myGovID account, you will need to set this up now in preparation for the changes.
- If you are a new director – appointed between 1 November 2021 and 4 April 2022 – you will need to apply for a director ID within 28 days of your appointment.
How do I apply?
- Go to the ABRS website to learn about the director ID requirements
- Verify your identity using your myGovID credentials or create a myGovID using your smartphone and Australian identity documents. For more information, visit How to set up myGovID.
- Conduct a proof of record ownership by answering two questions about your ATO record.
- Complete a director ID application on the ABRS platform.
What if I have questions?
Our team at Accru Harris Orchard is happy to answer any questions you may have about these changes. Once you have your director ID, please let your usual Accru Harris Orchard contact know so we can update ASIC and any other records we hold for you.