You may have heard about the new rules which require directors of Australian companies to obtain a Director Identification Number (director ID). The new requirement to obtain a Director ID also applies to individuals who have an SMSF or Trust with a corporate trustee, which is why I wanted to bring this new requirement to your attention. All directors of your corporate trustee will need to apply for their own director ID by the prescribed deadline.
An application for a director ID must be made individually and only by those who are applying for the director ID. As you are required to prove your identity as part of the process, our firm, or any other third party, is not able to apply for a director ID on your behalf.
A director ID is a unique identifier that directors need to apply for, like a tax file number. If you are a director of multiple companies, you are only required to have one director ID that will be used across all companies. You will keep your director ID forever even if you change companies, resign altogether from your director role(s), change your name, or move overseas.
As part of the Government’s Digital Business Plan, it is rolling out a Modernising Business Registers program which includes the introduction of director IDs. The main purpose is to prevent the use of false or fraudulent director identities as well as to improve the efficiency of the system by making it easier to meet registration obligations and trace director activity and relationships. By improving the integrity and security of business data it is expected to reduce the risk of unlawful activity.
The director ID deadline depends on when you were first appointed as a director of any Australian company. This may or may not be when your SMSF corporate trustee company was established. Please contact our office if you are unsure which deadline applies to you.
https://www.abrs.gov.au/director-identification-number
If you do not already have a myGovID you will need to set this up before you can apply for your director ID online. You can find information on how to setup your myGovID by downloading the app at: https://www.mygovid.gov.au/set-up
You will need to gather some information that the ATO already knows about you to verify your identity. You will need your tax file number, your residential address held by the ATO, and information from two of the following documents:
Note, myGovID is different to your myGov account. Your myGov account allows you to link to and access online services provided by the ATO, Centrelink, Medicare and more, while myGovID is an app that enables you to prove who you are and to log in to a range of government online services, including myGov.
Once you have a myGovID and information to verify your identity, you are ready to apply for your director ID. You can click on the following link to start the application process. The application process is quick and should take you less than 5 minutes.
https://abrs.gov.au/persons/ui/secure/start/applyForDirectorID?action=applyfordirectorid
If you don’t have a myGovID the best way to apply for a director ID will depend on your situation.
You can apply by phone by calling 13 62 50 between the hours of 8:00am and 6:00pm Monday and Friday.
You will be required to verify your identity by providing the following details:
If you can’t apply online or over the phone, you can apply using a downloadable form – Application for a director identification number (NAT75329, PDF, 306KB). This is a slower process and you will also need to provide certified copies of your documents to verify your identity.
In addition to the information requested on the application form, you will need to provide certified copies of:
Primary documents
Copies of documents you provide to support your application must be certified as true and correct copies of the original document by an authorised certifier.
To certify your documents:
The following people can certify copies of your original identity documents as true and correct:
A certifier should never witness documents:
Copies certified by a registered tax or ASIC agent cannot be accepted, as your ongoing commercial relationship could create a real or perceived conflict of interest for them.
An authorised certifier must, in the presence of the applicant, certify that each copy is a true and correct copy of the original document. This involves:
The stamp must show the certifier’s qualification, contact details including phone number, and reference number (if applicable).
If the stamp does not include their name or contact details, they should print them underneath their signature.
Don’t send your original documents as documents you send may not be returned to you.
A document that has been altered or corrected and initialled is not acceptable.
Further information about the application process, and step-by-step instructions, can be found via this link: https://www.abrs.gov.au/director-identification-number/apply-director-identification-number
If you have any questions or would like further information about director IDs, please feel free to give the GTP team a call, or arrange a time for a meeting, so we can discuss your requirements in more detail. Although we are unable to apply for a director ID on your behalf, we would be more than happy to guide you through the process.
