New requirements for Directors from 5 April 2022
Are you planning to set up a new company and be the company director? Or are you planning to set up a new Self-Managed Super Fund where your company would be a trustee and you would be the director?
Do you know that legislation has passed in June 2020, whereby from 5 April 2022 onwards it is mandatory that all directors of a company to have a Director’s ID (Director identification number, or DIN) before you are allowed to be appointed as a director?
How to apply for Director’s ID?
The application process is very simple and can be done online using your MyGov ID. The process is free and can be done via the Australian Business Registry Business (ABRS) website.
You will also require the following information when applying for the Director’s ID:
- your tax file number (TFN)
- your residential address as held by the ATO
- information from 2 documents to verify your identity.
Examples of the documents you can use 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 or your PAYG instalment activity statement).
If you have difficulty in getting your myGovID to work, you can apply by phone:
If you’re in Australia, phone 13 62 50.
If you’re calling from overseas, phone +61 2 6216 3440.
Or you can apply via paper application form and supply all the certified copies of your document that verify your identity. More information can be found here: https://www.abrs.gov.au/director-identification-number/apply-director-identification-number
