ASIC new requirements for Director identification number
As part of ASIC’s digital business plan and to prevent the use of fraudulent director identities, the Australian government has introduced the requirement for all company directors to have a Director Identification Number (Director ID). It is a 15-digit unique identifier that every director will have to apply for. Company directors can apply for Director ID as soon as today, depending on the day they became directors.
· People who became directors on or before 31 Oct 2021 must apply for Director ID by 30 Nov 2022.
· Those who became directors of a company between 01 Nov 2021 and 04 Apr 2022 must apply within 28 days of appointment.
· From 05 Apr 2022, directors must apply for Director ID before their appointment.
An application for Director ID must be done by the director themselves. Although accountants cannot apply on the client’s behalf for the Director ID, Powell Enterprises can help you understand the new requirements.
Director ID can be applied by following the below steps:
1. Setup MY GOV ID
2. Gather the required documents prior to commencing your application including proof of identity.
3. Complete your application
Once the Director ID has been set up, directors can log in to ABRS online using My gov ID to view or update details.