All directors now required to register for a Director Identification Number

All directors now required to register for a Director Identification Number

All directors now required to register for a Director Identification Number

08 Dec 2021

All directors now required to register for a Director Identification Number  teaser If you’re involved in running a company, corporation or another similar entity, chances are you need to sign up to get your own unique ID.
 
What is a DIN?
A Director Identification Number (DIN) is a 15 Digit Identifier given to a director (or someone that intends to become one soon) who has verified their identity with The Australian Business Registry Services (ABRS).
 
The purpose of the director ID is to prevent the use of false director identities, to make it easier to trace directors’ relationships with companies over time, and to make it easier to identify and eliminate director involvement in illegal activity, such as illegal phoenix activity. The ATO estimates the annual direct economic impact of illegal phoenix activity to be between $2.85 billion and $5.13 billion.1
 
You only need to apply once and you keep the same DIN forever, even if you change companies, stop being a director, change your name, or move interstate or overseas.

Who needs a DIN?
Directors (and alternate directors acting in that capacity) from the following entities will require a DIN:
  • A company
  • Corporate trustee (e.g. self-managed super fund)
  • Aboriginal & Torres Strait Islander corporation
  • Registered Australian body
  • Registered foreign company
  • Charity or not-for-profit organisation that is a company or Aboriginal & Torres Strait Islander corporation
You must apply for your own director ID, no one can apply on your behalf.

When do I need to apply?
  • If you became a director on or before October 31, you must apply by November 30, 2022.
  • If you become a director between November 1, 2021 and April 4, 2022, you must apply within 28 days of appointment.
  • From April 5, 2022, you will need to apply before your appointment.
Failure to meet your director ID obligations and apply in line with these timelines could see you receive an infringement notice, or even civil or criminal penalties.

How can I get a DIN?
To apply for a DIN, head to the application page on The Australian Business Registry Services website (click here), and follow the 3 easy steps;
  1. Set up a myGovID account
  2. Gather the required identification documents
  3. Complete the application from within the myGovID app
The whole process with all the documents at hand should take less than 5-minutes to complete.
 
For more information visit the ABRS website, or get in touch with one of our advisors on 9321 3362.
 
  1. https://www.ato.gov.au/General/The-fight-against-tax-crime/Our-focus/Illegal-phoenix-activity/The-economic-impact-of-potential-illegal-phoenix-activity/
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