Attention all Company Directors – Everything you need to know about NEW Director Identification Numbers

From 1 November 2021, a new legislation was introduced that requires all company directors to obtain an identification number, known as a Director Identification Number, Director ID or DIN.

The purpose of introducing DINs is to prevent the use of fictitious director identities, assist regulators trace directors’ relationships with companies and better identify directors involved in unlawful activity.

Directors will only ever have one director ID throughout their life, no matter how many companies they have. They will keep this 15-digit identifier forever, even if they:

• change companies
• stop being a director
• change their name
• move interstate or overseas.

Each Director must apply for a Director ID by themselves, unfortunately no one (not even HQB as your tax agent) can apply on your behalf.

When do I need to apply for a DIN?

When you must apply for a DIN depends on the date you became a director (see below). However, to ensure this is not overlooked, we suggest you apply for a DIN by 30 November 2021.

• Existing Directors have until 30 November 2022 to apply
• New Directors appointed between 1 November 2021 and 4 April 2022 must apply within 28 days of their appointment
• From 5 April 2022, directors must apply before being appointed.

 Note: ASIC is responsible for enforcing director ID offences set out in the Corporations Act 2001. It is a criminal offence if you do not apply on time.

How do I apply for a DIN?

Unfortunately, we are unable to apply for a DIN on your behalf. You must apply for your own DIN to verify your identity. We can however assist you by advising you of the steps involved in each method.

Online Application

If you already have myGovID setup – the quickest method to apply would be using the online application – click here for steps to complete the online application.

Phone Application

If you do not have myGovID setup, we suggest using the phone method – click here for steps to complete the phone application.

All directors should apply for their DIN before the relevant deadline. Failure to comply with the new DIN requirements or providing false or misleading information may result in both civil and criminal penalties.

Once you receive your DIN, please provide our office with a copy for your records.

– James Davis

Posted 18.11.2021

This article is compiled as a helpful guide for your private information and is subject to copyright. We suggest that you do not act solely on the basis of material contained in this article because items are of general nature only and may be liable to misinterpretation in particular circumstances. We recommend that our advice be sought before acting on any of these crucial areas.