The Federal Government has new legislation requiring all company directors to have a Director Identification Number (DIN) in a bid to combat the rise of fake director registrations.
DINs are a unique identifier which will stay with an individual director forever, even when they cease to be a director.
As a company director, you’ll need to verify your identity when registering for a DIN.
When people must apply for their director ID depends on when they first become a director.
For directors of companies regulated by ASIC and registered under the Corporations Act 2001:
- Intending new directors must apply before being appointed.
- Directors appointed on or before 31 October 2021 have until 30 November 2022 to apply.
- New directors appointed for the first time between 1 November 2021 and 4 April 2022 had 28 days from their appointment to apply.
To apply, you will first need to set up a myGovID with a Standard or Strong identity strength using the myGovID.
myGovID is an app and is separate from your myGov account. It lets you prove who you are and log in to a range of government online services, including myGov.
Once you have your myGovID, you will need to apply for your DIN at the following website: https://www.abrs.gov.au/director-identification-number
You will need to have some information the ATO knows about you when you apply for your DIN:
- your tax file number (TFN)
- your residential address as held by the ATO
- information from two documents to verify your identity.
You can also apply by phone by calling 13 62 50. Make sure to have your tax file number and identification information handy.
You can also apply with a paper form, but this is a much slower process, and you will need to provide certified copies of your documents to verify your identity. To download a paper form, go to: www.abrs.gov.au
There could be financial penalties in place for not register for a DIN. If you have any questions about this important legislation, please contact our commercial team at GLG Legal. Phone: (07) 3161 9555 or email: info@glglegal.com.au to make an appointment.