What is Director ID and why is it needed?
The Director Identification Number (Director ID) is a unique 15-digit number which assists with verifying the identity of individual company directors (similar to a Driver’s Licence).
Company directors in Australia are now required by law to verify their identities prior to 30 November 2022. This means that once identities of directors are verified, each director will have one Director ID even if they change names, stop being a director, or move interstate or overseas.
These changes have been introduced to ensure that:
- Identities of directors are not used falsely or fraudulently;
- Regulators and administrators can track director’s dealings with companies over time; and
- Directors who are involved in illegal/unlawful activities are identified and eliminated.
Applying for your Director ID
If you are a director of a company, you can apply for your unique Director ID to on the Australian Business Registry Services website. You will only have to apply for this once and you will retain Director ID forever.
Please note: The deadline to verify director’s identification is approaching fast as you have until 30 November 2022 to apply for your Director ID.
If you do not apply for your Director ID by 30 November 2022, you may be liable under the Commonwealth Criminal Code, and penalties may apply.
For more information regarding Director ID, please click here.
Important Notice: The information in this article is current as at 21 November 2022. It is for general purposes only and should not be considered or relied upon as legal advice. The law is complex and you should always obtain specific legal advice about your circumstances from a qualified legal practitioner. If you require legal advice, please contact our office to see how we can help.
Written by Anannya Mazumder, Lawyer – Wilson Lawyers.