Introducing your Director ID requirements - ALK Financial Group Pty Ltd

From 1 November 2021, Australian Company Directors are required by law to verify their identity with the Australian Business Registry Service (ABRS) and obtain a Director ID.

A Director ID is a unique identifier that will help prevent the use of false or fraudulent director identities. This will allow regulators such as the ATO and ASIC to track the activity of directors and identify and eliminate director involvement in unlawful activity, such as illegal phoenix activity.

Who needs to apply?

You are required to register and obtain a Director ID if you are an eligible officer (director or an alternate director who is acting in that capacity) of a:

– company, a registered Australian body or a registered foreign company under the Corporations Act 2001 (Corporations Act);

– an Aboriginal and Torres Strait Islander corporation registered under the Corporations (Aboriginal and Torres Strait Islander) Act 2006 (CATSI Act).

How to Apply

To obtain a Director ID, you will need to complete the identification requirements through myGovID.

myGovID is an application designed to allow users to authenticate with the Australian Government websites and services and was developed by the Australian Taxation Office (ATO) and the Digital Transformation Agency (DTA).

The identification process (which must be completed by the director) requires you to verify your identity using a combination of identification documents and existing ATO held information including:

your tax file number (TFN)
your residential address as held by the ATO
information from two documents to verify your identity, which may include:
- bank account details
- an ATO notice of assessment
- super account details
- a dividend statement
- a Centrelink payment summary
- a PAYG payment summary (this is different to your income statement, and/or your PAYG instalment activity statement)

Once you have obtained your myGovID with a Standard or Strong identity strength, you may log in and apply for your Director ID.

To apply for your Director ID with the ABRS, please click here.

When to Apply

Applications for Director ID are now open.

Corporations Act Directors:

When you must apply depends on when you were appointed as a director:

Existing directors have until 30 November 2022 to apply.
Directors appointed between 1 November 2021 and 4 April 2022 must apply within 28 days of their appointment.
From 5 April 2022, intending directors must apply before being appointed.

The new ABRS is responsible for administering the Director ID initiative.

Under the Corporations Act 2001, ASIC will be enforcing the Director ID requirement with criminal and civil penalties imposed for directors who fail to register for a Director ID by the nominated due date.

Who needs to apply?

How to Apply

When to Apply

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