There has been an update to the requirements of directors for Australian Companies. All directors will now require a Director Identification Number (DIN).
A DIN is a unique identifier administered by ASIC that a director will apply for once and keep forever, it needs to be linked to all of an individual’s directorships with ASIC. The intention is to help prevent the use of false or fraudulent director identities.
You need a director ID if you’re an eligible officer of:
| Date you become a Director | Date you must apply |
|---|---|
| On or before 31 October 2021 | By 30 November 2022 |
| Between 1 November 2021 and 4 April 2022 | Within 28 days of appointment |
| From 5 April 2022 | Before appointment |
If you were already a director on or before 31 October 2021, you have until 30 November 2022 to apply. That’s still the case even if you become a director of another company after 31 October 2021.
To be eligible to be a director of a company, you must be at least 18 years of age and consent to taking on the role and responsibilities of a director.
You cannot be a director if you:
The director ID requirement does not replace or change existing requirements to keep company records updated. For example, directors must still notify their company of changes in address or other details. The company will still need to notify ASIC of any changes to the public record.
ASIC’s enforcement role covers director ID offences under the Corporations Act 2001. The penalties for not complying with DIN requirements may be expensive, so we would encourage you to act within the timelines set out above.
As a director of a company you will need to apply for a DIN , please note:
As noted above, we are unable to lodge a DIN application on your behalf, but as always, as a client of Romanis Cant if you need our assistance we are here to help.
