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Director Identification Numbers
Director identification numbers have been introduced in Australia following the commencement of amendments to the Corporations Act 2001 (Cth). It is intended that the director identification number will assist with compliance and insolvencies.
What are Director Identification Numbers?
Director identification numbers are a unique number which attaches to an individual company director for their life. They retain the director identification number even if they cease to be a director or move from the jurisdiction. It allows directors to be easily identified across multiple companies.
How do I apply for a Director Identification Number?
An application for a director identification number is made to Australian Business Registry Services. To make the application directors need to apply personally and will need to provide:
- their tax file number;
- residential address as held by the ATO;
- two documents to verify their identity.
Failure to apply as required, or any misrepresentation as to a director’s number or being the holder of a number, can expose current or prospective company directors to civil and criminal penalties.
When do I need to have a Director Identification Number by?
- Directors appointed prior to 31 October 2021 must apply for a director identification number between 1 November 2021 and 30 November 2022;
- Directors appointed between 1 November 2021 and 4 April 2022 must apply within 28 days of appointment; and
- Directors appointed after 5 April 2022 must apply prior to being recorded on the ASIC register.
If you would like more information or advice in relation to your obligations to obtain a Director Identification Number please do not hesitate to contact our office.