Director Identification Number Registration
As from 1 November 2021 a new initiative for company directors (including directors of not-for-profit companies limited by guarantee) commences
Each director is obliged to have a Director Identification Number (director ID) which would be similar to an entity needing an ABN. That number will be unique to the director and apply whenever they occupy any position of director on any board. It will be attached to the director permanently, even if they are no longer a director, or if they change their name, or move interstate or overseas. Any Forms of Consent to act as Director should include a prompt that the director provide their Director Identification Number.
Relevant deadline dates are set out in the table below:
|DATE YOU BECOME A DIRECTOR
|DATE YOU MUST APPLY
|On or before 31 October 2021
|By 30 November 2022
|Between 1 November 2021 and 4 April 2022
|Within 28 days of appointment
|From 5 April 2022
Directors who fail to apply within the required time frame face criminal or civil penalties of 5,000 penalty units, or $1.11 million. Directors of a CATSI organisation can face up to $200,000 worth of penalties. Penalties will also be in force for conduct that compromises the new requirements, such as providing false identity information to the registrar.
Applications for the director ID are free of charge and are now open through the Australian Business Registry Services (ABRS). The easiest way to apply is by downloading the myGovID to a smart device and entering details of two identity documents such as bank account details, superannuation account details and ATO notice of assessment, among others.