Authored by: Siobhan Kennelly
A reminder about the recent amendments to the Corporations Act requiring all company directors, or anyone intending to become a director to obtain a Director Identification Number (“DIN”). All persons who are appointed as directors from 5 April 2022 must apply for a DIN prior to appointment. Persons who were directors of companies prior to 1 November 2021 must apply for a DIN prior to 30 November 2022.
Persons who were appointed between 1 November 2021 and 4 April 2022 were required to apply for a DIN within 28 days of appointment and that period has now expired. The Australian Business Registry Services (“ABRS”) is currently identifying those newly appointed directors who have not applied for a DIN within that 28 day period to make them aware of the obligation and to encourage application. ABRS has advised that initially its focus will be on education and awareness and will support directors who have not applied in time. If you are in this category, it is possible to apply for an extension of time using an online application form available on the ARBS website.
How to apply
Applications for a DIN are made to ARBS. The application must be made by a director personally and the quickest way to obtain a DIN is to apply online using the MyGov ID app to log in to ABSR.
If you already have a MyGov ID account, the process to obtain a DIN is very easy:
- provide the details of 2 “secrets” known by the ATO such as your superannuation account details and your bank account details
- confirm you are an eligible officer or intend to become one within 12 months. An eligible officer is a person who is appointed as either a director or an alternate director of a company, registered Australian body or registered foreign company under the Corporations Act or an Aboriginal and Torres Strait Islander corporation registered under the Corporations (Aboriginal and Torres Strait Islander) Act 2006)
- complete your personal details (most of this information will be auto-filled by the information already verified by your MyGov ID app).
Your DIN will be issued immediately if the application is all in order. There is currently no legal requirement to give your DIN to ASIC or to the companies that you are a director of, however ARBS advises that you should give your DIN to the person responsible for maintaining the records of any organisation that you are a director of.
It is a criminal offence if an application for a DIN is not made on time.
Foreign directors without a MyGov ID
Foreign directors living in Australia will be able to apply online if they have a MyGov ID and an Australian tax file number but if not, foreign directors will have to complete a paper application form and provide certified copies (certified by a notary public or Australian embassy/consulate staff) of their identity documents.