From November 2021, directors (and their alternates) will need to verify their identity as part of a new director ID requirement.
A director ID is a unique identifier that a director will apply for once and keep forever.
This applies to directors if their organisation is a company, registered foreign company, registered Australian body or Aboriginal and Torres Strait Islander corporation.
When you must apply for your director ID depends on the date you become a director.
The following table sets out the relevant dates for Corporations Act directors:
|
Date you became 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 |
Importantly, you don’t need a director ID if you are:
- a company secretary but not a director
- a director of a registered charity with an organisation type that is not registered with ASIC to operate throughout Australia
- an officer of an unincorporated association, cooperative or incorporated association established under state or territory legislation, unless the organisation is also a registered Australian body.
Directors must apply for their director ID themselves because they will need to verify their identity. No one can apply on their behalf.
The fastest way to apply is online via myGovID. If you:
- don’t have a myGovID, you can find information on how to download the app at www.mygovid.gov.au/set-up
- have a myGovID, you don’t need to do anything until November when you can apply for your director ID.
The ABRS is responsible for the implementation and administration of director ID. ASIC will be responsible for the enforcement of associated offences.
Further information and applications for a director ID can be made at the ABRS website - https://www.abrs.gov.au/
If you need further information or advice specific to your circumstances, please get in touch with the team at Cutcher & Neale.
