Company directors need to verify their identity and apply for a director ID as part of a new statutory requirement that came into effect on 1 November 2021.
A director ID Is a unique 15-digit identifier given to directors who have verified their identity with Australian Business Registry Services (ABRS).
This identifier will be used by regulators to trace directors’ relationships with companies over time, helping them stamp out fraud and other illegal activity.
Once issued, the director will keep their unique identifier for life, even if they change companies, stop being a director, change their name or move overseas.
What’s the deadline?
When you need to apply depends on the date you were appointed as a director:
Intending new directors must apply before being appointed
- If you were appointment on or before 31 October 2021, you have until 30 November 2022 to apply
- If you were appointed between 1 November 2021 and 4 April 2022, you have 28 days from your appointment to apply
Please note, you need to apply for your director ID yourself to verify your identity.
If you can’t apply by the deadline date, you can request an extension. Failure to meet your obligations may lead to civil or criminal penalties.
Blaine Hattie is a business lawyer and principal at Sutton Laurence King Lawyers
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