As part of their Digital Business Plan the government have now commenced the implementation of their Modernising Business Registers program. The first initiative of this program is to establish the new Australian Business Registry Service (ABRS) and introduce Director Identification Number’s (Director ID’s). After a progressive roll out over the next three years, the ABRS will ultimately bring together into one place the Australian Business Register (ABR) and more than 30 ASIC registers.
A director ID is a unique number that will be issued to all new and existing directors of all companies and body corporates, including trustee companies. Once allocated, a person’s director ID will remain with them for life, even if they stop being a company director, change their name or move interstate or overseas.
Director ID is being introduced to prevent directors using false names, enable ASIC and other government regulators to trace the activities of a director across multiple companies and to assist them in the investigation of repeated unlawful activity, including illegal phoenix activity.
For companies registered under the Corporations Act 2001:
For companies registered under the Corporations (Aboriginal and Torres Strait Islander) Act 2006:
The legislation governing director ID’s establishes penalties and criminal charges which could apply to directors for not making an ID application by the required time, for deliberately providing false information or for intentionally applying for more than one ID.
The new Federal Government website ABRS.gov.au is publicly available now. From 1 November 2021 this will be the platform for online applications. All applications must be made personally. It cannot be done by an agent, such as an accountant.
To receive their ID instantly, directors will need to:
Those unable to use myGovID or access online services will be able to apply by phone or paper. Paper application forms will be able to be downloaded from the ABRS website, however, applications of this nature will require certified copies of primary and secondary identity documents. For phone applications, additional identity documents will also be required.
Although we cannot apply for you, your Nexia Edwards Marshall advisor can assist you with any questions you may have about the process. Once you have received your Director ID, please share it with us. We will keep a record in our database for future reference.