In a major change for directors, the new Director identification regime will shortly come into effect. Under the new regime, each director will be required to have a Director Identification Number (DIN).
What is a DIN?
A DIN is a unique identifier linked to the director which a director will apply for once and keep forever.
Does it apply to me?
This applies to directors if their organisation is a company, registered foreign company, registered Australian body or Aboriginal and Torres Strait Islander corporation.
When do I need to apply?
Directors who are appointed for the very first time (in any company) under the Corporations Act between 1 November 2021 and 4 April 2022 must apply for their DIN within 28 days of appointment. Anyone appointed as director for the first time from 5 April 2022 will need to apply for their DIN prior to their appointment, otherwise ASIC will not accept their appointment.
Existing directors (appointed on or before 31 October 2021) can apply anywhere from November 2021 until 30 November 2022. They are encouraged to sign up for their myGovID now in preparation given there are over 2 million directors needing to be transitioned to this new regime.
Can someone apply on my behalf?
Directors must apply for their director ID themselves as they will need to verify their identity. No one can apply on their behalf.
How do I apply for a DIN?
- Set up myGovID:
Download the myGovID app (this is different to the MyGov app) on your smart device. You will need a standard or strong identity strength.
- Gather your documents:
When applying for your DIN, you will need to provide your Tax File Number, residential address as held by the ATO, and 2 documents verifying your identity.
- Complete your application:
Once you have registered with a myGovID account, you can log in from November 2021 and apply for your DIN. This process should take less than 5 minutes.