Starting November 2021, directors of Australian companies will need to apply for the Director Identification Number and verify their identity as part of a new statutory requirement of Australian Business Registry Services (ABRS).
Who needs to apply for Director ID?
Applying for a Director ID is free, and you need a director ID if you are an eligible officer of a company.
When must an individual apply for a Director ID?
(a) Existing directors have until 30 November 2022 to apply; So you still have some time
(b) New directors appointed between 1 November 2021 and 4 April 2022 must apply within 28 days of their appointment.
(c) From 5 April 2022, intending directors must apply before being appointed.
Follow this link to apply for an ID
Director IDs are a unique identifier that a company you will apply for once and keep forever. Your director ID follows you as an individual, not the company. That is, the Director ID will be the same number for any future companies.
Important note: It is an offence if you do not apply on time.
The new Australian Business Registry Services (ABRS) handles administering the director ID initiative.
The ID details should be handed to the relevant corporation’s record-holder once a director have obtained their director ID. May it be the alternate director, company secretary, a contact person, or the company’s authorised agent.
The director identification number requirement DOES NOT replace existing requirements to keep company records updated. The company will still need to notify ASIC of any changes for the public record.
For more information on the company director tracking system and registering for a Director Identification Number, please get in touch with us today.