Joseph Grassi & Associates - Penrith Property and Business Lawyers

Company Director? You will now need a director ID

A director identification number, or director ID, is a 15-digit unique identifier that a director applies for once and keeps forever. Much like a tax file number, a director ID stays with you – even if you change companies, resign, move overseas, or work across multiple companies. The introduction of this new measure aims to prevent the use of fraudulent director identities, eliminate director involvement in unlawful business activity, and make it easier to trace director activity and relationships with various companies over time.

Anyone who is currently a director or plans to become one is required to apply for a director ID. This includes all directors of a company, registered Australian body or foreign company under the Corporations Act 2001, or an Aboriginal and Torres Strait Islander corporation under the Corporations (Aboriginal and Torres Strait Islander) Act 2006. If your small business is established under a proprietary limited (“Pty Ltd”) structure, then you are a director and will be required to comply with these requirements.

Director IDs are free, and you can apply now. The easiest way to do this is online, using your myGovID to log into Australian Business Registry Services Online. To complete your application, you will be required to verify your identity. This will involve providing your myGovID, tax file number, residential address, and answering two questions regarding your ATO record.

When you must apply depends on the date you were first appointed as a director, and under which Act. The key dates are summarised in the tables below:

Corporations Act directors
Date you first became a director Date you must apply for 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

 

Corporations (Aboriginal and Torres Strait Islander) Act directors
Date you first became a director Date you must apply for director ID
On or before 31 October 2021 By 30 November 2023
From 1 November 2021 Before appointment

If you require more information or assistance applying for a director ID, please contact our office.

Apply for a director ID in 4 steps

 Step 1 – Go to the Australian Business Registry Services website to access the director ID application.

Step 2 – Verify your identity using your myGovID, or create a myGogID using your Australian identity documents.

Step 3 – Provide your TFN and answer two questions about your ATO record.  This may include information about your PAYG summary, dividends statement, or bank account details.

Step 4 – Complete a director ID application on the Australian Business Registry Services portal.

This article is for general information only and is not intended as legal advice. If you need specific help contact our office.

image_pdfimage_print
X
Scroll to Top