Company officeholder duties
New ID requirement for directors
Company directors are now required by law to apply for a director identification number. Find out more about director identification number.
All company officeholders need to understand their legal obligations under the Corporations Act 2001. This includes keeping accurate financial records, passing solvency resolutions, and keeping company details up to date.
Log in to the company officeholder portal
- Your company and the law
- Director identification number
- What books and records should my company keep?
- Do you need to lodge financial reports with ASIC?
- Is your company in financial difficulty?
Your company and the law
Being a company officeholder is different to being the holder of a business name. Company officeholders (directors and secretaries) have a number of responsibilities, including those set out in the Corporations Act 2001.
More information about officeholder obligations
Director identification number (director ID)
All directors of a company, registered Australian body, registered foreign company or Aboriginal and Torres Strait Islander corporation are required by law to apply for a director ID.
More information about director ID requirements
What books and records should my company keep?
Company officeholders need to make sure they keep proper company records. This can include financial records, deeds, the members register, and minutes of meetings.
Learn more about what kinds of records you need to keep
Does my company need to lodge financial reports with ASIC?
Public companies, registered schemes, large proprietary companies and some companies limited by guarantee all need to lodge financial reports.
More information about who has to lodge financial reports
Is my company in financial difficulty?
Some signs that your company might be in financial difficulty include:
- poor cashflow
- ongoing losses
- issues obtaining finance
If you think your company is in financial difficulty, it's important to get professional accounting and legal advice as soon as possible.
Learn what to do if your company is in financial difficulty