Important information for Company Directors regarding Director ID complianceIn our recent newsletter, we shared with you that ABRS is in process of contacting new directors appointed for the first time after 1st November 2021, who have not met their obligation to apply for a director ID. As a trusted agent, you can extend your support to share this information to your clients who have not complied to the director ID so far and encourage them to apply for the director ID within the prescribed timeframes. From 5 April 2022, new directors appointed for the first time must now apply for their director ID prior to their appointment. Directors appointed prior to 1 November 2021 must apply for their director ID by 30 November 2022. You can find more information about who needs to apply for a director ID at abrs.gov.au/deadlines
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What is Director ID ? The Director Identification Number (director ID) is a unique identifier that a director will apply for once but will stay with a director for life, offering greater identity security.
Why do I need a Director ID? Director ID is the first service delivered by ABRS and will help to -
How do i apply for Director ID online? Directors must set up their myGovID with a standard or strong identity strength before they apply for a director ID. As a trusted Tax agent, you can help your clients set up their myGovID by telling them what they’ll need to prove their identity. Your clients will need at least two of the following Australian identity documents to prove their identity: • Drivers licence or learner’s permit • Passport • Birth certificate • Visa (using their foreign passport) • Citizenship certificate • ImmiCard • Medicare card You can find a list of documents you can use to prove your identity at www.mygovid.gov.au/verifying-your-identity You can find more information about applying for a director ID at abrs.gov.au/directorIDapply
What happens after I have my Director ID? Once you have your director ID, keep it safe until you need to use it. It can be shared with your accountant, company secretary, ASIC registered agent or tax professional. Accountants and Tax professionals can now add Director IDs to your Company Registration Order on our form. This will help you to update and store Director IDs for existing or newly appointed Directors while you register a new company. Any Director ID updated by you will be stored in our database and will help you save time by auto populating the Director information on the form during your next company registration for the same Director ID.
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 late 2023. This is when your director ID will need to be linked to the companies you’re a director of. ABRS will keep you up to date with changes. For now, you should continue to use the ASIC registers as you currently do.
How does it affect the current company registration process? For now, there will be no change to how you register a company with us, hence there is no requirement to include the DIN in your company application form or any changes to company forms (484, etc). This will take place in the future as the ABRS builds the new registry platform, and we will keep you up-to-date with any developments during this course. Click here to learn more about the MBR program. |
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