A few months ago, we told you that the Australian Business Registry Service would be launching its Director Identification Number system later in the year – and here it is!
If your appointment was on or before 31 October 2021, you must apply for a Diretor ID before 30 November 2022. Directors appointed from the 1 November 2021 onwards will need to apply within 28 days of appointment.
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What is it?
This Director ID will require all directors to confirm their identity and will be a unique identifier for each person who consents to being a director. It is intended to help regulators curtail illegal activities like phoenixing by mapping the relationships between entities and trace a director’s history with companies over time.
What does this mean for me?
When looking for Directors to appoint, consider if they already have a Director ID, and if not, whether they can apply for a Director ID within the timeframe given.
Generally, all directors will need to apply for a Director ID (including alternate directors). Sole traders and those in partnerships are exempt, but otherwise, directors in public companies, private companies and not-for-profits alike will need one.
How can I get it?
Acting directors must apply personally on the ABRS website. Your lawyer unfortunately cannot do this on your behalf because you will need to verify your identity with myGovID and supply personal information, however we are on-hand if you would like some advice on what you will need to include.
Please note that a myGovID is different from a myGov log in. myGovID is an app you can use to log in to government services like myGov and ABRS.
What do I need?
- myGovID (here’s how to set it up)
- Your TFN
- Your residential address (as in the ATO’s records)
- 2 of any of these ID verification documents: bank account statements, an ATO notice of assessment, super account statements, dividends statement, a Centrelink payment summary, or a PAYG payment summary
What if I can’t get a myGovID?
In order to set up your GovID you will need to have at least a Standard identity strength on the app to apply for the Director ID online, so keep an eye out for this if you are finding accessing the app difficult.
If you can’t get can’t access the App then, you may apply for a Director ID by phone if you have a TFN and any 2 of those ID verification documents mentioned above.
Otherwise it’s good to know, you may apply with a paper form. This is a slower process, so take this into consideration given the time constraint.
Nothing! You’re good to go. There’s currently no obligation to update ASIC with the ID – and we’ll let you know if this changes.