In an earlier blog, we discussed the introduction of the director ID number [director Identification], what it is, who actually needs one, when applications need to be submitted, and briefly touched on how to apply for a director ID number. Since then, there have been significant updates we’re going over the most current steps here.
How do you apply for a director ID number?
To apply for a director ID number, the easiest method is to apply online via abrs.gov.au and follow the steps detailed on the website [You can also apply via phone or a paper form, but you will need to provide certified copies of documentation to pass proof of identity requirements]
The first step to applying online is to verify your identity via setting up your myGov ID app [not to be confused with your myGov account]. To set up your myGov ID app, you will need to have your ID documents handy such as:
- Drivers Licence
- Medicare Card
- Birth Certificate
The second step is to apply for your director ID number by clicking on the ‘apply now with myGov ID’. During this process, you will be asked for information to further verify your details with the ATO. If you do have a ‘myGov account’ linked to ATO online services, we would suggest getting this information up on the screen. The director ID number online application process directly speaks to the ATO and the details entered during the director ID application process MUST match current ATO details. If you do not have a ‘myGov account’ with access to ATO online services, you can call us to confirm your current ATO details [we can access this only if we are your tax agent].
Once your identity has been verified, your unique director ID will be provided to you. Once you have your director ID, PLEASE PROVIDE IT TO US so we can update our system to ensure that when director identification numbers go live, your director ID will be linked to your respective company.
Reminders for Invigor8 Accountants and Advisors clients and takeaway factors
If you are one of our clients and we are the registered ASIC agent for your company, we are always here to help! But we cannot apply for your director ID for you.
If you are a Director of a Company that we are the registered ASIC Agent for, PLEASE SEND US YOUR DIRECTOR ID! We will need this to link you to the company/ies you are a Director of.
It is important you are aware of your requirements in relation to applying for a director ID as civil and criminal penalties will apply if individuals fail to apply within the prescribed timeframes, intentionally apply for more than one director ID or provide a false director ID.
Failing to apply for a director ID when required imposes substantial penalties [up to $13,200 criminal and $1.1m civil] which is a very expensive mistake you want to avoid!
In addition to these important changes with the director ID, it is also important you stay up to date with the ATO changes to communication which you can read more about here.
Thank you again to businessDEPOT for the helpful insights.
General Advice Disclaimer
The information provided on this website is a brief overview and does not constitute advice, whether financial, accounting, taxation, legal or any other type of advice. We endeavour to ensure that the information provided is accurate however information may become outdated as legislation, policies, regulations and other considerations constantly change. Individuals must not rely on this information to make a financial, investment or legal decision. Please consult with an appropriate professional before making any decision.