Director ID's are Here

Director ID Mandated

For Company Directors

Calling all company directors. An announcement from the Australian Securities and Investments Commision (ASIC) states that all company directors are required to apply for a Director ID. In order to distinguish directors and avoid cases of fraud identities, a unique identifier will be applied to directors to use forever.

What is Director ID?

To verify your identity as a company director, a 15-digit identification number will be allocated to directors indefinitely, even if you stop being a director or other circumstances change such as moving overseas or switching companies.

This initiative was introduced as part of the Government’s Modernisation of Businesses Registers (MBR) Program, meaning less fraudulent activity will occur due to the greater security that the Director ID offers.

In regard to privacy, your Director ID will not be accessible by the public or anyone unless permission is given by the director. Directors of foreign companies, Aboriginal and Torres Strait Islander Organisations, registered Australian bodies or even corporate trustee of self-managed super funds, will have to apply for a Director ID. However, you do not need one if you are running a business as a sole trader or haven’t been appointed the position of director through the Corporations Act.

As a precaution it is important to think of your Director ID as similar to a Tax File Number, in that they should not be revealed without necessity.

How To Apply?

It is free to apply for a Director ID. The process of applying is similar to applying for a Tax File Number, however it must be you and you only who applies for it. First navigate to the Australian Business Registry Services’ website- abrs. gov.au/directorIDapply. Then click the button that says ‘Apply now with myGovID’ and login using your myGovID details. If you don’t have a myGovID account, you can easily sign up via the site- myGovID.gov.au. Or you can download the myGovID app and apply via that platform.

Next, you will be asked some questions to verify your identity. To fast-track this step, have your Tax File Number and residential address prepared and ready to go.

Once you’ve answered those questions, you will be required to fill out a quick Director ID application form. Once you have done this you can click submit and will immediately be issued your unique Director ID, displayed on your screen. If you are unable to apply for the ID online, there are other non-digital options available.

It is ideal to give your Director ID to whoever's responsible for keeping your records on file and your company agent.

When You Must Apply By Corporation Act Directors

When you were appointed director When you must apply by

Existing directors By 30 Nov 2022 New directors (between 1 Nov 2021 & 4 Apr 2022) Within 28 days of your appointment

Intending directors Before being appointed (only from 5 Apr 2022)

1. Go to the ABR - abr.gov.au

2. Set up your myGovID account

3. Click 'apply now with myGovID'

4. Verify your identity by filling in your details

5. Fill out the online application form

6. Click submit and recieve your Director ID on screen

So, if you are a director of a company and still have yet to set up your Director ID, log on to the ABRS website and navigate your way to the business section to apply. Keep your own business as well as fellow businesses safe by applying now. Do not miss your application cut-off date or you will face heavy fines or even jail time!