On 5 October 2021, new legislation was introduced by the federal government, partly as a way of identifying directors engaging in unlawful activity such as illegal ‘phoenixing’ and tracking directors who act across multiple companies
What is a Director Identification Number (“DIN”)?
A DIN is a 15-digit unique identifier that must be held by all directors of companies, and other registered Australian bodies. Once a director has applied for and obtained a DIN, they keep that DIN forever as their personal identifier.
When must you apply for a DIN?
When a director must apply for a DIN is determined based on when they were appointed as a director:
- Company directors appointed on or before 31 October 2021 have until 30 November 2022 to apply for a DIN
- A person appointed as a director between 1 November 2021 and 4 April 2022 has 28 days from the date of their appointment to apply for a DIN
- A person appointed as a director from 5 April 2022 will be required to have a DIN prior to their appointment
If a person is intending to become a director in the future can apply for a DIN however, the DIN will be automatically cancelled if they are not appointed a director within 12 months of receiving the DIN.
If you are a director under the Corporations (Aboriginal and Torres Strait Islander) Act 2006 (Cth), then the following dates apply:
- Company directors appointed on or before 31 October 2022 have until 30 November 2023 to apply for a DIN
- A person appointed as a director from 1 November 2022 will be required to have a DIN prior to their appointment
How do you apply for a DIN?
No one can apply for a DIN on behalf of another as there are certain steps to verifying your identity. The Australian Business Registry Service (ABRS) is responsible for administering the DIN regime and applications can be made online HERE for individuals who have a myGovID. Should you not have a myGovID, applications can be submitted by phone on 13 62 50 or by paper application.
What are the penalties for not having a DIN?
ASIC is responsible for enforcing DIN offences set out in the Corporations Act 2001 and both civil and criminal penalties may apply.
How can Nevett Ford help?
For more information on DIN and director duties and responsibilities, please contact our Corporate and Business Team on +613 9614 7111 or email at melbourne@nevettford.com.au.