Director ID – What is it and what do you need to do?
The Director ID regime was implemented as a way to prevent the use of false or fraudulent director identities, make it easier for external administrators and regulators to trace directors’ relationships with companies over time, and identify and eliminate director involvement in unlawful activity, such as illegal phoenix activity.
All existing directors of Australian Companies (including Directors of corporate trustees of SMSF’s and Discretionery Trusts) should be aware that the deadline for application for a Director ID is looming.
Existing company Directors have until 30th November 2022 to attend to this requirement.
The application process itself is easy and can be done online through the new Australian Business Registry Services (ABRS).
Once you receive it, your 15-digit identification number will be permanently linked to you even if you change companies, stop being a director, change your name or move interstate or overseas.
Each director needs to submit a separate application for their own director ID.
Step 1.
To apply for your director ID, you first need to set up myGovID (this is different to a myGov login).
The MyGovID is an app that you need to download onto your smart device and confirm your identity in using standard documents (drivers’ licence, passport, etc).
Start with your MyGovID journey here: MyGovID Application
You will be able to use your MyGovID app on your device as an authenticator to access Government websites, including the ABRS and the Australian Taxation Office.
Step 2.
Once you have established your identity with the myGovID app you must then apply for your Director ID via the Australian Business Registry Services website, by following this link: Director identification number | Australian Business Registry Services (ABRS)
To complete the director ID application, you need to provide additional information such as
- your tax file number (TFN),
- residential address,
and/or details from two additional specified documents to verify your identity, such as:
- bank account details;
- ATO notice of assessment;
- super account details;
- a dividend statement;
- Centrelink payment summary; or
- PAYG payment summary.
Step 3.
Once you receive your director ID, you need to pass it onto the record-holder of the corporate trustee, which may be the company secretary, another director, a contact person, or an authorised agent of the company.
If the corporate trustee changes or you become the director of another company, you will need to pass on this information to the new corporate trustee or the other company.
To advise our office, please email your Directors ID Notification to admin@hendersonaccounting.com.au
