You will need a Director Identification Number (Director ID) if you’re a director of a company, a registered foreign company or Australian body. This includes directors of SMSF corporate trustees, that is, anyone with a SMSF that currently has a corporate trustee or will move to a corporate trustee in the future. A sole trader will not need a director ID.
A Director ID is a unique identification number assigned to a director. It only needs to be applied for once and is valid indefinitely. The use of Director IDs aims to improve data integrity and confidence of information.
What are the deadlines?
| Date director appointed | Application deadline |
| On or before 31 October 2021 | By 30 November 2022 |
| Between 1 November 2021 – 4 April 2022 | Within 28 days of appointment |
| From 5 April | Before Appointment |
How to apply for a Director ID
You will need to personally apply for your Director ID as it requires personal identification verification. There is no cost to apply.
Instructions on how to apply for a Director ID can be found on the ABRS website.
For an overview of Director IDs, go to the ATO website.
What do I do with my Director ID?
Once you have successfully registered and received your Director ID, no action is required from you at this stage. It is expected, in September 2023, that the ASIC register will be transferred to the new Australian Business Registry Services (ABRS), who will be responsible for administering the Director ID initiative. This will be when your Director IDs will come into play, and be linked to the companies you are a director of.
Questions?
If you are a TAG client that this impacts, we will be in touch with you in early 2022 to ensure this is actioned.
If you have any questions, please contact your TAG advisor on 9886 0800 or via email.
What should you do now?
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Disclaimer: The information contained is general in nature. Professional advice should be sought before acting on any aspect on this page. Financial planning services provided by TAG Financial Advisors Pty Ltd (ABN 77 154 205 017 AFSL 415632), a wholly owned subsidiary of TAG Financial Services Pty Ltd (ABN 67 075 374 686). Copyright 2021. Please do not reproduce without the expressed written consent of the author.