Modernising Business Register - Director ID
Background
The Australian Government is implementing changes to consolidate multiple business registers as part of its ‘Digital Economy Strategy’. Director Identification Numbers is one of the first initiatives under the Australian Business Registry Services.
Role of IPA members
Director Identification requires you to prove who you are and so can only be applied for by the Director themselves. Assistance can be sought from an ASIC registered Agent or Trusted Advisor.
Once applied for there will be no further requirement to apply again and the Director Identification Number is unique and ‘for life’
Why Director Identification Numbers?
To assist with combating the use of false identities by Directors and to counter illegal phoenixing activity, the Australian Government introduced Director Identification Numbers from November 2021.
Who needs to register?
Directors and Alternate Directors of Australian companies, Aboriginal and Torres Strait Islander corporations, registered Australian bodies and foreign companies.
Sole Traders and Partners and company secretaries who are not directors do not need to apply.
Persons that are Directors of many companies will only need to register once
Deadlines
New directors have to move fast
| Who? | When? |
| Existing Directors (Corporations Act 2001) | 30/11/2022 |
| Existing Directors (CATSI Act 2006) | 30/22-2023 |
| New Directors – appointed 1-11-2021 to 4-4-2022 | Have until 28 days after appointment |
| New Directors – appointed after 5-4-2022 | Apply prior to appointment |
| New Directors (CATSI Act 2006) – appointed 1-11-2022 | Apply prior to appointment |
What do I need?
- MYGOVID
- Information that the Australian Taxation Office already holds (for instance, TFN)
- Supporting documentation to verify your identity
Ways to apply
- Online (recommended by ABRS)
- Phone
- Paper
How do I register/Steps
There are three steps to the application
Penalties
Failure to complete the application for a Director Identification Number by the time frame can result in criminal or civil penalties. Penalties will also apply for proven cases of providing false identity information or intentionally applying for multiple director identification numbers.
IPA Resources
Technical Advantage
- Deadline for Director Identification Number applications announced
- Director ID applications now open
Webinar
Held on 3 February 2022 Recorded version
Submission
The IPA made a submission to The Treasury