Director Identification Number Compliance
If you're a director of a company, including a corporate trustee, this is essential information for you!
The Director Identification Number (DIN) is a mandatory legal requirement under the Modernising Business Registers Program. Failing to apply within the required timeframe could result in serious penalties, including criminal and civil consequences.
But don’t worry—it’s a one-time application, and once you have a Director ID, you’ll keep it forever, even if you:
- Change companies
- Stop being a director
- Change your name
- Move interstate or overseas
When Do You Need to Apply?
For New Directors / New Entities
Before 1st November 2021 – No action required unless invited.
From 1st November 2021 – Apply within 28 days of appointment.
From 5th April 2022 – Apply before being appointed as a director.
For Existing Directors / Existing Entities
Before 30th November 2022 – Must apply during the transition period.
For Future Directors
If you intend to become a director, you can apply up to 12 months in advance.
Special Cases
- Corporations under the CATSI Act (Aboriginal and Torres Strait Islander Act 2006) have until 30th November 2023.
- Not-for-Profit (NFP) sector – Guidelines are still being developed.
These deadlines were officially confirmed by Senator Jane Hume, Minister for Superannuation, Financial Services, and the Digital Economy.
Pro Tip: While existing directors have until November 2022, applying early is strongly recommended!
Why Is the Director ID Important?
The Director ID helps:
- Prevent false or fraudulent identities from being used on company records.
- Improve transparency by tracking a director’s history across multiple companies.
- Stop illegal phoenix activity, where businesses avoid paying debts by shutting down and shifting assets to a new company.
Failure to comply with the DIN requirements can result in heavy penalties:
- Up to 5,000 penalty units (equivalent to $1.11 million in fines).
- Additional penalties apply for false information or multiple DIN applications.
Thank you for reading!
Should you have any queries in regards to the above please contact our office on (03) 9728 1448
The TAS Team
3/653 Mountain Highway, Bayswater VIC 3153
Dorothea Farmakis (CPA)
Director
Dorothea, our CPA Qualified Accountant (Registered Tax Agent), has over 25 years experience within international corporate firms in Accountancy, Funds Management and Asset Management for firms such as HSBC, P&O, Lend Lease and more.