- 5 November 2021
- Posted by: runningthenumbers
- Categories: 2021, Accounting, Company
The government has initiated a new system that attaches a unique identifying number to an individual who is a company director. If you are a company director you will need a director identification number by November 2022. You can apply for a director ID from November 2021.
What is a Director Identification Number?
A director has one number permanently attached to them, and this is used for identification purposes for any or all companies they are a director of. The new Australian Business Registry Services (ABRS) will administer the director ID register, which will gradually integrate all government business registers into one easily accessible register with greater security. The director ID numbers will mean better transparency of appointed directors of companies but also increased privacy protections.
What Do You Need To Do?
When you must apply for your director ID depends on the date you become a director.
- Existing directors have until November 2022 to register for a director ID number.
- New directors appointed between 1 November 2021 and 4 April 2022 must apply within 28 days of being appointed as a director.
- New directors appointed from 5 April 2022 must obtain a director ID number before a director appointment.
- Prospective directors can apply for a director ID up to 12 months ahead of the appointment.
The easiest and fastest way to apply is online via ABRS.
- You’ll need a myGovID account to apply for your director ID number online. This creates an authenticated digital identity you can use when accessing government services online.
- Apply through Australian Business Registry Services, (ABRS). You’ll need proof of identity documents such as tax file number, ATO notice of assessment or bank details.
- You’ll then need to complete the application process from the ABRS webpage, which will link your myGovID account to the application. If the application is verified successfully, you’ll receive your director ID straight away.
Directors – you will have to complete this process yourself as you must verify your identity as part of the application – nobody else can apply on your behalf.
You can also apply via paper form or telephone.
Start gathering your identification documents now in preparation for applying in November. Set up your myGovID, if you haven’t already, and take note of when you need to get your ID number. There’s no reason not to get your ID number now – be proactive! This is also a great time to update your ABN details and ASIC details.
Talk to us if you’d like to know more about director ID numbers and company director obligations.