The Director ID system is now in place. Please take action on this asap.
The Federal government have now set up an identification system for all company directors in Australia.
Like your Tax File Number or an ABN, it is a unique identifier used with all entities in which a person holds a director’s position. i.e. the number is ‘attached’ to the person, not the company.
The intention is that this system helps to deal with false directorships or fraudulent director identities. It will also deal with the common situation of multiple names being used for an individual (such as middle names being included or excluded with different directorships.
The number itself is a 15 digit code that adheres to international standard ISO 3166. All Australian Directors will have a number that starts with ‘036’, followed by an 11 digit unique number and a ‘check digit’ that is used to determine the validity of the number being used (This is similar to the TFN and ABN numbers in terms of validity checking)
As of November 1, 2021, everyone who was a director has until November 30, 2022, to apply for a Director ID. Anyone who becomes a company director for the first time between November 1, 2021, and April 4, 2022 must obtain a director ID within 28 days of their appointment. You MUST have a Director ID after April 4, 2022, before you are appointed to your first company director position.
Ok, so what do you need to do to get a Directors ID? It’s simple.
1. Register your details with MyGovID. You may have done this already to get your vaccination certificate, medicare details or tax information.
If not, you will need to supply various ID documents to verify yourself (such as drivers licence, passport, medicare details etc
2. Apply for the Director ID via MyGovID.
To make the process easier, I will be sending all current directors on our corporate register system an email with the details of all the companies they are associated with and the direct links to apply for a Director ID. (Note that this includes companies that are solely trustees of trusts or superannuation funds.) It will generally only take a few minutes for you to complete the process.
When you have your Directors ID, could you please forward the details to me so that I can record them in our system? This way, it will ensure that the details appear on your company’s documents as required in the future.
If you have any questions or need more information on setting up your Directors ID, please feel free to contact us!