You’ve probably heard and read a lot lately about the new Director ID Number that all Australian Directors must have. It’s important as the deadline of 30 November 2022 for existing directors is getting closer.
The good news is you only have to apply once for your Director ID Number and that is the number you use for all your director appointments. You do need to make sure your details are kept up to date though. Note: A person is only allowed the one Director ID Number.
For those director appointments happening now, whether for a new company or an appointment to an existing company, you must have your Director ID Number before an appointment can be made.
It’s a director’s sole responsibility to apply for a Director ID Number and it should be supplied to a company so they have a record in company documents.
But what does it mean if you don’t have your Director ID Number?
There are some pretty serious consequences and ASIC have been granted powers under the Corporations Act 2001 to prosecute offences.
The penalties are:-
For more information on how to apply please go to https://www.abrs.gov.au/director-identification-number