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In this edition we answer your questions about Director ID's and provide a quick guide to help you apply. 

Director ID Q&A

Q: What is a Director ID? 

A: A Director ID is a unique identification number that a director will keep forever. 

Q: I don't run a business but I am a director of a trustee company for a Self Managed Super Fund or a Trust, do I need a Director ID? 

A: Yes, you are required to have a Director ID. As an existing director you have until 30 November 2022 to apply.  

Q: I am a sole trader, do I need to apply for a Director ID? 

A: No. Only directors of registered companies need to apply. 

Q: My company has foreign Directors, do they need to apply?

A: Yes. Foreign directors of Australian companies have the same requirements, however they must apply via a paper form. 

Q: Why are Director ID's required? 

A: They are required to verify the identity of directors. They will help to prevent the use of fake director identities and make it easier for government regulators to trace relationships with companies over time. 

Q: When do I need to apply by? 

A: For directors appointed on or before 31 October 2021 you must apply by 30 November 2022.

If you are appointed between 1 November 2021 and 4 April 2022, you must apply within 28 days of appointment.

From 5 April 2022 you must apply prior to appointment. 

Q: What are the penalties for non-compliance? 

A: Civil and criminal penalties will apply where individuals fail to apply for a Director ID within the prescribed timeframes, intentionally apply for more than one Director ID, provide a false Director ID or are actively involved in the contravention of any of the above offences. 

Q: What is myGovID?

A: To apply, directors will need to use ABRS online services which is accessed via a myGovID account. MyGovID is not the same as myGov. Please click here to access our quick guide to setting up your myGovID account.

Q: What do I do once I have applied for my Director ID?

A: Once you have received your Director ID you need to ensure you keep a record of it. All FMA clients should email their Director ID to info@fmapartners.com.au

How to Apply

If you are an Australian resident director, you will need to complete a number of steps and have a number of identification documents available and ready. Click below to access our quick guide. 
Director ID Application Quick Guide
Foreign directors of Australian companies have the same requirements and deadlines as Australian resident directors, however, the verification process is only accessible in paper form. Click here to access. 

The completed forms and accompanying documents (one primary and two secondary forms of identification, certified) will need to be sent by mail to Australian Business Registry Services using the details provided. 

Here to Help

As always, the FMA team are across the detail and ready to answer any questions you may have. 

Contact our office on +61 2 9540 6888 or via email at info@fmapartners.com.au 
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