The Australian Business Registry Services now requires all company directors to apply for a Director Identification Number (DIN). If you are a company director, this post explains what you need to do, how to apply and when you need to complete the process. If you have any questions or require assistance, please contact your FMD Adviser or your accountant.
What is a Director Identification Number (DIN) ?
This is a unique 15 digit identifier that a director will apply for once and keep forever, regardless of whether they become a director of another company, cease to be a director, change their name or move interstate or overseas.
Why do company directors now require a DIN?
The DIN is a measure that limits the opportunities for a company and its directors to engage in untoward activities. This new measure requires all directors to confirm their identity before receiving a DIN.
When do I need to apply for a DIN?
When you need to apply for a DIN depends on when you became a company director.
If you became a director:
• On or before 31 October 2021 - you need to apply for a DIN by 30 November 2022;
• Between 1 November 2021 and 4 April 2022 - you need to apply for a DIN within 28 days of appointment;
• From 5 April 2022 - you need to apply for a DIN before appointment as a director
How can I apply for a DIN?
Directors can apply for a DIN by logging into Australian Business Registry Services (ABRS). To log in to ABRS online you’ll need to use the myGovID app. Directors who do not have a myGovID account will need to visit How to set up myGovID to create an account.
What proof of identity do you need to apply for a DIN?
In order to apply for the DIN, you will be required to have the following on hand: a standard or strong identity strength myGovID, your tax file number, your residential address as held by the ATO; and information from two documents to verify your identity (for example, bank account details, an ATO notice of assessment, superannuation account details, a dividend statement, a Centrelink payment summary or a PAYG payment summary).
General advice disclaimer: This article has been prepared by FMD Financial and is intended to be a general overview of the subject matter. The information in this article is not intended to be comprehensive and should not be relied upon as such. In preparing this article we have not taken into account the individual objectives or circumstances of any person. Legal, financial and other professional advice should be sought prior to applying the information contained on this article to particular circumstances. FMD Financial, its officers and employees will not be liable for any loss or damage sustained by any person acting in reliance on the information contained on this article. FMD Group Pty Ltd ABN 99 103 115 591 trading as FMD Financial is a Corporate Authorised Representative of FMD Advisory Services Pty Ltd AFSL 232977. The FMD advisers are Authorised Representatives of FMD Advisory Services Pty Ltd AFSL 232977.