As part of the Federal Government's "Modernising Business Registers" (MBR) program, it introduced a requirement that all directors apply for and hold a Director Identification Number (ID). This number is unique to each director and will be registered to that director for life.
I am an existing Director – when do I need to register for an ID?
Directors who were appointed on or before 31 October 2021 still have until 30 November 2022 to apply.
I have recently been appointed a director – when do I have to register for an ID?
Directors who were appointed for the first time between 1 November 2021 and 4 April 2022 must apply for a director ID within 28 days of their appointment
What is changing on 5 April 2022?
From 5 April 2022, any director who is appointed for the first time must apply for a director ID before they become a director.
If, however, a person was a director of any company as at 31 October 2021, they still have until 30 November 2022 to apply, even if they became/become a director of another company after 1 November 2021.
How do I apply for an ID?
The easiest way to apply is through a person's MyGov account. (If a director lives outside Australia, they will need to apply with a paper form and provide certified copies of their identity documents).
Directors will need their TFN, residential address (as held by the ATO) and appropriate documents to verify their identity.
It is important that all directors are aware of this new requirement.
Applications are processed by the Australian Business Register Services (ABRS), and their website contains further information.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances. Madgwicks is a member of Meritas, one of the world's largest law firm alliances.