Director Identification Numbers (DINs) are Here
Starting 1 November 2021, all directors are required to have a Director Identification Number (DIN). Directors of many Australian businesses have 12 months to apply for this unique identifier. The requirement to have DINs is a part of initiatives as the ASIC, the ABR, and the ATO to continue their ongoing merging process.
Aside from getting your identification number as the director of your company, these IDs are designed to ensure a fair business environment. The ID numbers, like Australian Business Numbers (ABN), for example, improve data integrity. They also help achieve a sense of security for clients and customers since they know who the directors are.
Should You Apply for a Director Application Number?
Here is the answer. If you’re a director of any of the following, you should begin the application process immediately:
- A company, either local or foreign registered
- A registered Australian body
- An Aboriginal business
- A Torres Strait Islander business
Meanwhile, if you’re a sole trader, you will not need to apply. To get your Director Identification Number, you should apply at the Australian Business Registry Services (ABRS). This additional step may be a bit discouraging for busy directors like you, but don’t fret. The entire process only requires about 15 minutes of your time. Finding your passport, which has remained dormant for two years, can take a lot longer. And once you receive your DIN, you get to keep it forever.
When Should You Apply?
As mentioned above, the lodging of applications has already begun. However, it should be noted that the date to apply depends on the exact date of your directorship. Therefore:
- If you have been appointed as director of your company on 1 November 2021 or later, you are required to apply within the next 28 days.
- If you have become the company director on or before 31 October 2021, you have until 30 November 2022 to lodge your DIN application.
- If you’re about to be a director starting 5 April 2022, you are required to hold your DIN before the appointment.
Take note of the dates to ensure you apply on time.
How Do You Apply?
The application process for getting your Director Identification Number should not intimidate you. It’s so easy and can be done in less than half an hour. Please do remember that no one can apply for you. That means you cannot ask an employee or even your tax agent to do the work for you. You can, however, talk to your tax agent or a BAS or ASIC agent to get assistance in understanding the DINs.
So, if you’re ready to apply, here are three options to do it:
1. Via the myGovID app
If you have not downloaded the myGovID app yet, begin with that step. Choose from the links below:
- To download the app through the Apple App Store for iPhones
- To download the app through the Google Play Store for Android phones
Launch the app, enter your ID, and link it to the ABRS site. Log in your details to start your application. You will be required to connect your myGovID to the ABRS and provide your Tax File Number and residential address. You should also be ready with two documents to verify your identity and the information you have given, such as:
- Bank Account Details
- Super Account
- PAYG Payment Summary
- A Dividend Statement
- Centrelink Payment Summary
- ATO Assessment Notice
Complete the ID application from there.
2. Via Phone
Please note that this method only applies to those with a Tax File Number (TFN). Apply directly through the Australian Business Registry Services site on their ‘Apply for your director ID’ page. Once again, you will need to provide proof of identity before you can proceed.
3. Via Form
A form is available for download if you cannot apply via phone or online. This process, though, can take longer. Plus, you will still have to verify your identity, just like the other two options. If you do not have a TFN or are working for a foreign business, you may have to select this method of application.
Do you have any queries about the DIN application process? We’re here to help with your corporate secretarial duties as you focus on getting your identification number. Get in touch with our friendly team for more information.