Director identification number

Company directors need to verify their identity as part of a new director identification number (director ID) requirement.

A director ID is a unique identifier that a director will apply for once and keep forever – which will help prevent the use of false or fraudulent director identities.

All directors of a company, registered Australian body, registered foreign company or Aboriginal and Torres Strait Islander corporation will need a director ID.

Corporations Act directors

When you must apply depends on when you were appointed as a director:

  • Existing directors have until 30 November 2022 to apply.
  • New directors appointed between 1 November 2021 and 4 April 2022 must apply within 28 days of their appointment.
  • From 5 April 2022, intending directors must apply before being appointed.

The new Australian Business Registry Services (ABRS) is responsible for administering the director ID initiative.

ASIC is responsible for enforcing director ID offences set out in the Corporations Act 2001. It is a criminal offence if you do not apply on time.

Visit the ABRS website for more information about director ID.

Frequently asked questions

Are there any changes to existing company notification requirements?

No. The director ID requirement does not replace or change existing requirements to keep company records updated. For example, directors must still notify their company of changes in address or other details. The company will still need to notify ASIC of any changes for the public record.

Am I required to provide my director ID to ASIC or companies?

Currently there is no requirement to provide your director ID to ASIC or to the companies you’re a director of. The ASIC companies register will be transferred to the ABRS, expected in September 2023. This is when your director ID will need to be linked to the companies you’re a director of. We’ll keep you up to date with changes. For now, you should continue to use the ASIC registers as you currently do.

What are the director ID offences and penalties?

The ABRS will provide support and guidance to directors to assist them to understand and meet their director ID obligation.

ASIC’s enforcement role covers four new director ID offences under the Corporations Act 2001.

Offence

Legislative section

Maximum penalties for individuals

Failure to have a director ID when required to do so

s1272C

$13,200 (criminal); $1,100,000 (civil)

Failure to apply for a director ID when directed by the Registrar

s1272D

$13,200 (criminal); $1,100,000 (civil)

Applying for multiple director IDs

s1272G

$26,640, 1 year imprisonment or both (criminal); $1,100,000 (civil)

Misrepresenting director ID

s1272H

$26,640, 1 year imprisonment or both (criminal); $1,100,000 (civil)

Visit the ABRS website for more information about director ID.

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Last updated: 12/11/2021 02:51