From November 2021, all Australian company directors need to apply for a Director Identification Number (DIN). Once issued, directors will keep the identifier forever, regardless of whether they change companies, move overseas or wind up the business.
So what’s a Director Identification Number (DIN)?
A Director Identification Number (DIN) is a unique 15-digit identifier number given to directors who have verified their identity with Australian Business Registry Services (ABRS) that a director needs to keep forever (like a TFN). This identifier will be used by regulators to trace directors’ relationships with companies over time, helping them stamp out fraud and other illegal activity.
Who must apply?
You need a Director Identification Number (DIN) if you are a director or alternate director of a:
- Company
- Aboriginal and Torres Strait Islander corporation
- Corporate trustee (e.g. of a self-managed super fund)
- Charity or not-for-profit organisation that is a company or Aboriginal and Torres Strait Islander corporation
- Registered Australian body
- Foreign company registered with ASIC and carrying on business in Australia (regardless of where you live)
What’s the deadline?
When you need to apply depends on the date you were appointed as a director:
- If you were appointed before 31 October 2021 … you must apply between 1 November 2021 and 30 November 2022
- If you were appointed between 1 November 2021 and 4 April 2022 … you must apply within 28 days of your appointment
- If you were appointed after 5 April 2022 … you must apply before your appointment can be recorded on the ASIC register
If you can’t apply by the deadline date, you can request an extension. Failure to meet your obligations may lead to civil or criminal penalties, currently up to $1.1 million in penalties and 12 months imprisonment.
How do you apply?
You need to apply for your own Director Identification Number (DIN). Your accountant can’t do it for you. This is something you need to do because you need to prove your identification.
The quickest way to do this is to apply online using the myGovID app. This is not the same as a myGov account.
Once your myGovID is set up, the process to get your DIN is pretty quick. I did it for myself in less than 5 minutes.
- Set up myGovID
- Go to the new Australian Business Registry Services website
- Then click on “Director Identification Number” then “apply now”
If you can’t get a myGovID you can apply by phone 13 62 50 or apply via a paper-based applications using a downloadable form Application for a director identification number.
What information do you need to apply?
You will need the following information handy when you apply:
- Your tax file number
- Your residential address as held by the ATO
- Information from two documents to verify your identity
Examples of the documents you can use to verify your identity include:
- Bank account details
- An ATO notice of assessment
- Super account details
- A dividend statement
- A Centrelink payment summary
- A PAYG payment summary
While Accounting Excellence can’t apply for a director ID on your behalf, we can take care of all your accounting, tax advisory and bookkeeping needs. Get in touch with Accounting Excellence today by emailing info@universeaccountants.com.au or calling 0431 981 005.
Please note that this is intended to provide general information only and it is not designed to be a substitute for professional advice.
