Director ID’s – What you need to know now

Why the new rules?

As from November 2021, all Australian directors will be required to be registered with a Director ID – a unique identifier that will be kept indefinitely and applied across all companies. This will allow the government to verify and track the corporate history of individual directors.

The key objective of the new regime is to combat illegal phoenixing, where a company director will transfer assets to a new company to continue operating the business, leaving any bad debt with the former company and going into liquidation.

When do they apply?

Applications will open from 1 November 2021, although it’s encouraged for existing directors to get prepared immediately.

• Existing Directors – Appointed on or before 31 October 2021

  • Have until 30 November 2022 to apply

• New Directors – Appointed between 1 November 2021 and 4 April 2022

  • Must apply within 28 days of their appointment

• New Directors – Appointed from 5 April 2022 onwards

  • Must have a Director ID before their appointment

What you need to do?

Visit the Australian Business Registry Services website for detailed steps on applying for your Director ID.

Note that a MyGovID is required and can be set up here. This is different to the MyGov platform. Existing company directors are encouraged to setup their MyGovID now in preparation for registrations opening in November 2021.

Contact us

If you have any questions, or need any assistance with your Director ID please contact us.