Written by Craig Smith, Ashfords' Business Services Partner
Update 30/11/22: The ABRS has confirmed that Directors will not be penalised for late registration
if they apply for their Director ID by 14 December, 2022.
From 1 November 2021, directors can apply for the new Director Identification Number (Director ID) introduced by ASIC.
All directors will be required to hold a Director ID to verify their identity as part of new ASIC requirements.
What is a Director ID?
A Director ID is a unique 15 digit number, that confirms a director's identity has been verified with the Australian Business Registry
Services.
Directors will only ever have one ID, which they will keep forever.
The Director ID is designed to improve transparency as it will help prevent director identity fraud and identify directors involved in
illegal activities.
Who needs a Director ID?
Any individual who is an eligible officer (director) of:
- A company
- A registered Australian body
- A registered foreign company under the Corporations Act 2001 and carrying on business in Australia
- Corporate Trustee, e.g. of a Self Managed Super Fund
- Charity or not-for-profit organisation that is a company
How do Directors apply?
Lodge an application via the Australia Business Registry Services
website.
If you haven’t already, we recommend setting up your myGovID app and gathering the relevant
documents to verify your identity.
The documentation required is a tax file number, residential address as held by ATO, and two further documents to verify your identity.
These verification documents could be a bank statement, ATO notice of assessment, superannuation account details, Centrelink payment
summary or a PAYG payment summary, for example.
When do Directors need to apply?
Applications are open now on the ABRS. Both existing and new directors will need to apply by the
following dates:
Corporations Act Directors
Date of Directorship
|
Application Date
|
|
On or before 31 October 2021
(existing & new directors)
|
By 30 November 2022
UPDATE: Directors will not be penalised if they register by 14 December, 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 of Directorship
|
Application Date
|
| On or before 31 October 2022 |
By 30 November 2023 |
| From 1 November 2022 |
Before appointment |
If Ashfords manage your corporate affairs, please get in touch with your trusted advisor with proof of your Directors ID Number and
the date of issue in pdf form.
