A director ID is a unique identifier that a director will apply for once and keep forever – which will help prevent the use of false or fraudulent director identities.
All directors of a company, registered Australian body, registered foreign company or Aboriginal and Torres Strait Islander corporation will need a director ID.
ASIC is responsible for enforcing director ID offences set out in the Corporations Act 2001. It is a criminal offence if directors do not apply on time and penalties may apply.
When to apply
When people must apply for their director ID depends on when they first become a director.
For directors of companies regulated by ASIC and registered under the Corporations Act 2001:
- Intending new directors must apply before being appointed.
- Directors appointed on or before 31 October 2021 have until 30 November 2022 to apply.
- New directors appointed for the first time between 1 November 2021 and 4 April 2022 had 28 days from their appointment to apply.
- While the deadline to apply for Director ID is 30 November 2022, if you apply by 14 December 2022, there will be no further action in relation to late application.
Directors of companies regulated by the Office of the Registrar of Indigenous Corporations and registered under the Corporations (Aboriginal and Torres Strait Islander) Act 2006 have a different time frame in which to apply.
Frequently asked questions
1. Are there any changes to existing company notification requirements?
No. The director ID requirement does not replace or change existing requirements to keep company records updated. For example, directors must still notify their company of changes in address or other details. The company will still need to notify ASIC of any changes for the public record.
2. Am I required to provide my director ID to ASIC or companies?
When you receive your director ID, you should give it to your tax/ASIC agent or Aboriginal and Torres Strait Islander corporation. This might be your company secretary, another director, a contact person or an authorised agent of the company.
If you’re appointed as a director of any other companies or Aboriginal and Torres Strait Islander corporations in the future, you should give your director ID to your tax agent.
There is no requirement to provide your director ID to ASIC unless otherwise requested.
3. What are the director ID offences and penalties?
ABRS will provide support and guidance to directors to assist them to understand and meet their director ID obligation.
ASIC’s enforcement role covers four new director ID offences under the Corporations Act 2001.
Offence |
Legislative section |
Maximum penalties for individuals |
---|---|---|
Failure to have a director ID when required to do so |
s1272C |
$13,200 (criminal); $1,100,000 (civil) |
Failure to apply for a director ID when directed by the Registrar |
s1272D |
$13,200 (criminal); $1,100,000 (civil) |
Applying for multiple director IDs |
s1272G |
$26,640, 1 year imprisonment or both (criminal); $1,100,000 (civil) |
Misrepresenting director ID |
s1272H |
$26,640, 1 year imprisonment or both (criminal); $1,100,000 (civil) |
4. Do I need to apply for a director ID if I am no longer a director?
Currently, recently resigned company directors who no longer hold the role on or after 1 December 2022 are required to apply for a director ID. However, ABRS has released Draft Corporations (Eligible Officer Exclusion – non-individuals and resigned directors) Determination 2022 for public consultation. Although the legislative instrument is subject to final determination, directors who have recently resigned from their director roles are not expected to apply for a director ID.