Director Identification Numbers

The Federal Government has imposed new identification requirements on both current and future company directors in Australia. From 1 November 2021, directors will need to verify their identity as part of a new director ID requirement.
 
A director ID is a unique identifier that a director will apply for once and keep forever. It will help prevent the use of false or fraudulent director identities. This applies to directors if their organisation is a company, registered foreign company, registered Australian body or Aboriginal and Torres Strait Islander corporations.
 
Directors must apply for their director ID themselves because they will need to verify their identity. We are unable to apply on your behalf, this is something clients will need to do themselves.
 
Australian Business Registry Services (ABRS) is responsible for the implementation and administration of Director ID. ASIC will be responsible for the enforcement of associated offences. ARBS can be accessed at http://www.abrs.gov.au

Applications commenced from 1 November 2021.

Please note that clients will require several identification items to obtain a MyGov ID and then to apply for a Director ID. The ABRS website contains details of acceptable forms of identification.
 
Timeframes 

• Persons who are directors on or before 31 October 2021 – due by 30 November 2022
• Persons who become directors between 1 November 2021 4 April 2022 – within 28 days of appointment
• Persons who become directors after 5 April 2022 – before appointment as Director.

Next Steps – Apply For Your Director ID

Step 1  Set up myGovID  http://www.mygovid.gov.au/set-up
Step 2  Gather your Documents
Step 3  Complete your Application
https://www.abrs.gov.au/director-identification-number/apply-director-identification-number

You will need to have your tax file number (TFN) and your residential address as held by the ATO.
 
You will also need information from documents to verify your identity. You will be asked 2 Questions based on details from the following list of documents: 

• Bank Account details – BSB and Account number for the account that the ATO has on record for you personally
• Notice of Assessment – details such as the reference number on your latest Notice of Assessment
• Super Account Details
• Dividend Statement – SRN as per the dividend statement
• Centrelink Payment Summary
• PAYG Payment Summary

As always, if you have any concerns or would like more information or assistance on the above, please speak to your MNH Advisory Services team member.

You are receiving this email as you are a client of MNH Advisory Services Pty Ltd. The information (including taxation) contained within this document is of a general nature only and neither represents nor is intended to be advice on any particular matter.