As highlighted in our November 2021 article New Requirement for Directors to Register for a Director Identification Number, company directors are required by law to apply for a director identification number (‘director ID’).
A director ID is a unique identifier that directors apply for once and keep forever. ASIC suggests that the implementation of the director ID system will help prevent the use of false or fraudulent director identities.
All directors of companies, registered Australian bodies, registered foreign companies or Aboriginal and Torres Strait Islander corporations will need director ID’s.
What you must do
- 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.
You must apply through the Australian Business Registry Service. Before you apply for a director ID online, you need a myGovID with at least a Standard identity strength. The documents you will then need to provide will be dependent on your existing myGov Identity Strength.
A note of caution
ASIC published an Alert on 28 October 2022 warning that scammers are pretending to be ASIC and are approaching Registry customers via email.
The alert warns consumers that:
- ASIC has received reports that scammers have been using look-alike domains to pretend to be ASIC and approach Registry customers via email.
- The emails ask Registry customers to pay fees and give personal information to renew their business or company name.
- These emails often have a link that requests your ASIC user names and passwords and may infect your computer with malware if you click the link.
An email is probably a scam and is not from ASIC if it:
- asks you to make a payment over the phone
- asks you to make a payment to receive a refund
- asks you for your credit card or bank details directly by email or phone
- asks you to pay fees that are different to the fees on our website
- arrives outside of ASIC’s timeframes – ASIC will only issue a renewal notice 30 days before your renewal date.
ASIC notifications will come from the email address ASIC.Transaction.Nofirstname.lastname@example.org. Sometimes scams will try to use very similar looking email addresses to ASIC’s.
For more information on the company director system, or for advice on Director Identification Number registration, please get in touch with Holman Webb’s Business, Corporate and Commercial Group today.