What is a Director ID?
A Director identification number (Director ID) is a unique identifier you need to apply for once and will keep forever. It will help prevent the use of false or fraudulent director identities.
Directors will need to verify their identity as part of a new director ID requirement.
Directors need to apply for their own Director ID as you will be required to verify your identity with the ATO so Tax Agents are unable to complete this on behalf of clients. You are unable to have someone apply on your behalf.
Director ID transitional arrangements
From 5 April 2022, new directors appointed for the first time now must obtain their director ID prior to their appointment. Under the current arrangements, new directors appointed for the first time between 1 Nov 2021 and 4 April 2022 have 28 days to apply for their director ID.
If you were appointed to director prior to 31 October 2021, you have until November 2022 to apply for your DIN.
You can apply for your Director ID via the methods below.
To set up your myGovID, click here.
For more information on the phone and mail options, click here.
For information about proof of identity documents, click here.
For more information and to stay up to date with the latest news click here.
Severe penalties may apply
Civil or criminal penalties may apply if a director fails to apply for their DIN within the required timeframe which could be upto 5,000 penalty units.
Penalty units are currently measured at $222 per unit, which means fines of up to $1.1 million may apply.
Additionally, further penalties may be imposed on directors who knowingly apply for multiple Director Identification Numbers, misrepresent their identification numbers to a Government or registered body or provide false information during their application process.
How RSM can help you?
If you have any questions or require further assistance, please contact your local RSM office today.