Were you appointed as a company director before 31 October 2021? If so, you only have a few months to apply and meet the new directors ID requirements. You must have your director ID by 30 November 2022 . On the other hand, new directors will need to apply for a director ID before they are appointed from the company.
Who can apply for a director ID?
Persons in Australia who can apply for a director ID include eligible officers who are directors of:
- a company,
- an Australian registered body corporate,
- a registered foreign company, or
- an indigenous corporation can apply for directors ID.
If you are not an eligible officer yet but intend to become one within 12 months, you can pre-apply for it.
However, there are few conditions to be an eligible director. You must be an individual, at least 18 years of age, and have not been disqualified from managing a corporation (unless permission is granted from ASIC, ORIC, or with leave of the court).
How do I apply for a director ID?
Directors must apply for a director ID themselves, and they can do it through myGovID. When you apply for a director ID, you will need to provide:
- a tax file number (TFN),
- residential address as held by the ATO, and
- two documents to verify your identities.
Documents that can verify your identify include:
- an ATO notice of assessment,
- super account details, or
- a Centrelink payment summary.
There are also other options of applying for a director ID over the phone or in paper form.
If I am going to be a director, when should I apply for my director ID?
If you become a director:
- between 1 November 2021 and 4 April 2022, you must apply within 28 days of your appointment.
- after 5th April 2022, you must apply before appointment.
Do other penalties apply ?
ASIC can apply heavy penalties for:
- Applying for multiple director IDs and/or
- Misrepresenting director ID
Penalties range from $26,640, 1 year imprisonment or both (criminal) and $1,100,000 (civil).
Although we can’t apply for a director ID on your behalf, we can help you decide if you need to apply.
Source: https://www.abrs.gov.au