ASIC Director ID Deadline Approaching

All directors of a company, registered Australian body, registered foreign company or Aboriginal and Torres Strait Islander corporations are now required to obtain a director ID.

A director ID is a unique identifier that a director will apply for once and keep forever and is aimed at preventing the use of false or fraudulent director identities.

Directors of a company will appear on the company’s ASIC extract, a listing of the company details that is held with the Australian Government.

The deadline for applying for a director ID depends on when you become a director:

• Existing directors have until 30 November 2022 to apply;
• From 5 April 2022, intending directors must apply before they are appointed.

Directors will need to apply for their director ID themselves, so their identity can be verified. Their authorized tax, BAS or ASIC agent can’t apply for a director ID on their behalf.

There is a process to go through to apply for a director ID. If you require any assistance, please do not hesitate to contact your accountant at Lockwood Partners.