Did You Know…

The director ID number deadline expires on 14 December 2022?

Last year we reported that ASIC introduced director ID numbers to prevent the use of false or fraudulent director identities (amongst other reasons). Since the requirement was introduced, over 1.8million directors have applied for a director ID.

Under the scheme, directors appointed on or before 31 October 2021 had until 30 November 2022 to apply for their director ID number. However, taking a ‘pragmatic compliance approach’, the Australian Business Registry Services Registrar, Chris Jordan, recently announced a two-week extension to this application period.

What does this mean?

Directors appointed on or before 31 October 2021 are now required to apply for a director ID number by 14 December 2022 (if they haven’t already), or they may otherwise be faced with an infringement notice, civil and/or criminal prosecution.

Under a draft legislative instrument, persons appointed as a director on or before 31 October 2021, though have resigned on or before 1 December 2022, are excused from having to obtain a director ID number. This does not apply in circumstances where a person is later appointed as a director on or from 1 December 2022 (in which case they will need to apply for a director ID number prior to their appointment).

Applications for a director ID number can be made using the myGovID application.

For more information, please visit https://www.abrs.gov.au/director-identification-number