Director identification numbers
It’s time to apply

Summary

As part of the 2020 Budget Digital Business Plan, the government announced the introduction of a requirement for all directors to register for a unique director identification number (director ID) that is intended to mitigate illegal ‘phoenixing’ activity and provide more transparency.

This has now been legislated and you’ll need to apply for your director ID. 

In Detail

Company directors are now required to verify their identity as part of the new director ID requirement that has been implemented. A director ID is a unique number that each director must apply for once and keep forever. We outlined some of the reasons behind the new regime in an earlier article you can see here.

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

Timing

There are different deadlines for applying depending on when you were appointed as a director:

• Existing directors have until 30 November 2022 to apply.
• 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.

While existing directors have time to apply, we suggest that all directors complete this step now so it doesn’t get forgotten as the penalties are severe should the director ID not be obtained by the deadline.

How to Apply

Unfortunately applying for a director ID must be completed by the director themselves and so we aren’t able to process the application on your behalf but it is a simple and painless process. To assist, we’ve provided below a straightforward summary on the steps required:

Step 1 – Set-up myGovID

A myGovID is separate to the existing myGov account you may already have. You’ll need to download the myGovID app and verify your identity so that your identity strength is at least ‘standard’.  You’ll need two forms of identity to satisfy the requirements so it’s a good idea to have your passport, drivers license and Medicare card handy. 

You can find out more detailed steps on setting up a myGovID account at this link. 

Step 2 – Apply for your director ID

You can apply for your director ID using the below link:

Apply Now

The first step is to get access to the system using your newly created myGovID. Once you’ve input your email address that is associated with your myGovID you should receive a notification on your phone from the myGovID app. You’ll be given a code that you need to either accept or input into the app and you should then be taken to the application. 

To apply, you’ll need your TFN, place of birth and the other regular information. 

Once submitted your director ID should be displayed on the screen.  If you’re a client of Day One Advisory, take a copy of this and send it to us so we can update your records with ASIC. If you’re not a client of ours, make sure you provide this number to the person that manages your corporate register or update ASIC yourself.

That’s it, you’re all caught up and nothing else is required. If you have any issues with the application please don’t hesitate to reach out.