The Australian Government has announced the introduction of a new mandatory Director Identification Number (DIN/director ID) as part of the Modernising Business Registry (MBR) Program. The roll-out will start from November 2021.
The DIN will provide accountability and traceability of a director’s relationships over time, across all companies and will provide information on a director’s involvement in what may be repeated unlawful activity, including illegal phoenix activity.
Key points
- A DIN will be a legal requirement for all new and existing directors to hold
- A DIN is a unique 15 digit numerical identifier that an existing or intending director will apply for once and keep forever
- Only one DIN will be issued to each individual, once their identity has been verified
- The issued DIN will remain the same even if that person stops being a company director, changes their name or moves overseas
- This will apply to directors of a company, body corporate or corporation.
- It is not applicable to secretary’s
- Alternative directors are also required to apply for a DIN
- Directors must apply for their direct ID themselves. No one can apply on their behalf, including registered agents and accountants
How to apply for a DIN
Directors will need to apply online at https://www.abrs.gov.au/director-identification-number/apply-director-identification-number, from November 2021 and will require a MyGovID (an app you download on your smart device, different from MyGov) to complete the application process.
For information on how to set up a MyGovID please go to https://www.mygovid.gov.au/set-up
When will a director need to apply for a DIN?
Transitional arrangements will allow directors to become familiar with the new requirement. When you need to have a director ID will depend on when you were appointed as a director.
Corporations Act 2001 (Corporations Act) | |
Appointment of directors | When they need to apply |
Existing directors appointed on or before 31 October 2021
|
By 30 November 2022
|
New directors appointed between 1 November 2021 to 4 April 2022 (inclusive) | Within 28 days of appointment |
New directors appointed from 5 April 2022 | Before appointment |
Corporations (Aboriginal and Torres Strait Islander) Act 2006 (CATSI Act) | |
Appointment of directors | When they need to apply |
Existing directors appointed on or before 31 October 2022
|
By 30 November 2023 |
New directors appointed after 1 November 2022 | Must apply before appointment* |