Director identification number
The Treasury Laws Amendment (Registries Modernisation and Other Measures) Act 2020 amended the Corporations Act to introduce a director identification number (“DIN”) requirement. All directors of Australian companies, including corporate trustee directors of SMSFs are subject to this new DIN requirement.
Objective of this measure
The objective of this new measure is to promote good corporate conduct and assist regulators to detect and address unlawful conduct by requiring each appointed director of a registered body corporate to have a unique DIN.
Date of effect
The effective date of the relevant part of the legislation is 4 April 2021.
Application
From November 2021, all directors (or an alternate director who is acting in that capacity) of a company must apply for a director ID.
The due date for applying for the director’s ID depends on when the person becomes a director and is summarised in the table below.
|
Corporations Act directors |
|
|
Date you become a director |
Date you must apply |
|
On or before 31 October 2021 |
By 30 November 2022 |
|
Between 1 November 2021 and 4 April 2022 |
Within 28 days of appointment |
|
From 5 April 2022 |
Before appointment |
Each director must personally apply for the ID themselves by submitting an online application or a hard copy application.
Accountants and advisors cannot apply for their clients’ director IDs.
Detailed guidelines on how to apply for the ID can be accessed here: Click here to view or Click here to view video