In June 2020, the Federal Government passed legislation intended to improve the integrity of Australian business registers and to create a central Commonwealth Business Registry.
A key component of the changes is the new mandatory Director Identification Numbers (director ID). Director IDs are being introduced to prevent the use of false or fraudulent director identities.
Director Identification Numbers
A director ID is a unique 15 digit identifier that directors will need to apply for by verifying their identity. Directors will apply for a Director ID once and will keep it forever, even if they stop being a director, become a director of another company or multiple companies, or move overseas.
Who Needs an ID?
- a company, a registered Australian body or a registered foreign company under the Corporations Act 2001 (Corporations Act); or
- an Aboriginal and Torres Strait Islander corporation registered under the Corporations (Aboriginal and Torres Strait Islander) Act 2006 (CATSI Act).
This includes directors and alternate directors of the following, regardless of where you live:
- Australian company – proprietary and public, including corporate trustees;
- Aboriginal and Torres Strait Islander corporation;
- charity or not-for-profit organisation that is a company or Aboriginal and Torres Strait Islander corporation;
- registered Australian body, for example, an incorporated association that is registered with the Australian Securities and Investments Commission (ASIC) and trades outside the state or territory in which it is incorporated. These entities will have an Australian Registered Body Number (ARBN); and
- foreign company registered with ASIC and carrying on a business in Australia. These entities will have an ARBN.
The fastest way to get a director ID is to apply online using the myGovID app. It’s free and you only need to apply once.
Contact Australian Business Registry Services on 13 62 50.