What do I need to know about Director ID's?
If you're the director of a company then you've probably heard a bit about Director ID's recently. Here's the important information that you need to know.
What are Director ID's?
Director ID's are a unique identification number that will apply to each individual as a director. You only ever need to apply for it once and it's yours forever - similar to a TFN or ABN. They're put in place to prevent the use of false or fraudulent director identities, they allow for easily mapping the relationship between individuals and entities, allowing for traceability of a director's relationships across companies over time. They're also useful for government regulator sto investigate director's involvement in repeated unlawful activity including illegal phoenix activity.
How does one apply for a Director ID and what information is required?
Director ID applications are being operated by the ABRS (Australian Business Registry Services), who have created a page on their website detailing what needs to be done to apply for a Director ID https://www.abrs.gov.au/director-identification-number/apply-director-identification-number the link to start your application can be found at the bottom of this page.
When is the due date for having a Director ID?
If you're currently the director of a company already, you have until 30 November 2022 to apply for your Director ID.
If you're being appointed as director of a company between 1 November 2021 and 4 April 2022, you must apply for your Director ID within 28 days of appointment.
For those being appointed as a director from 5 April 2022 onwards, you will need to apply for a Director ID before being appointed.
It is a criminal offence if you do not apply on time.
Who can be contacted if someone has difficulties applying or requires assistance?
ABRS have a contact us page with their contact details and can be assist with setting up myGovID or Director ID's, their contact page is https://www.abrs.gov.au/contact-us