The Australian Government has announced the introduction of a new mandatory Director Identification Number (DIN/director ID) as part of the Modernising Business Registry (MBR) Program. The roll-out will start from November 2021.
The DIN will provide accountability and traceability of a director’s relationships over time, across all companies and will provide information on a director’s involvement in what may be repeated unlawful activity, including illegal phoenix activity.
Key points:
- A DIN will be a legal requirement for all new and existing directors to hold.
- A DIN is a unique 15 digit numerical identifier that an existing or intending director will apply for once and keep forever.
- Only one DIN will be issued to each individual, once their identity has been verified.
The issued DIN will remain the same even if that persons stops being a company director, changes their name or moves overseas. - This will apply to directors of a company, body corporate or corporation.
- It is not applicable to secretary’s.
- Alternative director’s are also required to apply for a DIN.
- Directors must apply for their direct ID themselves. No one can apply on their behalf, including registered agents and accountants.
How to apply for a DIN
We’ve created a DIN Application Guide to help you with this process.
Directors will need to apply online at https://www.abrs.gov.au/director-identification-number/apply-director-identification-number, from November 2021 and will require a MyGovID (an app you download on your smart device, different from MyGov) to complete the application process.
For information on how to setup a MyGovID please go to https://www.mygovid.gov.au/set-up
When will a director need to apply for a DIN?
Transitional arrangements will allow directors to become familiar with the new requirement. When you need to have a director ID will depend on when you were appointed as a director.
Please Note: Many of the comments in this publication are general in nature and anyone intending to apply the information to practical circumstances should seek professional advice to independently verify their interpretation and the information’s applicability to their particular circumstances.