The deadline is fast approaching on 30 November 2022 for existing directors of Australian Companies to obtain a Director Identification Number (DIN).
This regime first came into effect on 1 November 2021 and requires all Australian residents and non-residents who are directors of Australian companies to register for a DIN. A Director Identification Number is a unique number issued to a director and will remain with you for a lifetime, even if you stop being a director of an Australian company.
A DIN like the Tax File Number is private and not searchable by the public for security purposes. A Director Identification Number cannot be disclosed to a third party without consent from the director it belongs to. The DIN is applied with the Australian Business Registry Services (ABRS).
Directors need to apply for their own DIN and no one can make the application on their behalf. There is no cost to apply for a Director Identification Number.
If a director fails to apply for a DIN before the deadline, they can be fined up to $13,200 as a criminal penalty, or up to $1,100,000 as a civil penalty. Directors that are found to apply for multiple Director Identification Numbers or misrepresenting DIN will be fined up to $26,640 and/or 1 year imprisonment as a criminal penalty or up to $1,100,000 as a civil penalty.
Extensions for application are available, If you can’t apply by the date you need to, you can complete an Application for an extension of time to apply for a director ID.
If you require any assistance or information with the application of your Director Identification Number, please contact our office as soon as possible.