Quick Guide: How Do I Find My Director ID Number?
In the corporate world, the role of a director is a significant one, filled with responsibility and accountability. With the rise of digitalisation and an increase in fraudulent activities, the importance of uniquely identifying and verifying the identity of directors cannot be overstated. This is where the concept of the Director ID comes in. This unique identifier serves as a beacon of transparency and accountability, linking directors to their companies and deterring illegal activities such as phoenixing. Intrigued? Let’s delve deeper into understanding these Director ID numbers and “how do I find my director id number” to accurately manage them.
Key Takeaways
Director ID numbers are unique identifiers issued to company directors for the purpose of preventing fraudulent activities.
Individuals who meet ABRS requirements and prove their identity can apply for a Director ID online through MyGov.
Penalties ranging from fines to imprisonment may be imposed on non-compliant individuals by ASIC. Support is available from ABRS for those wishing to comply.
Outline
Understanding Director ID Numbers
A Director ID is a unique identifier issued to all qualified company directors, including each company director. It is instrumental in preventing fraudulent activities such as illegal phoenix activity, a nefarious practice involving the deliberate liquidation of companies to evade debt payments, and the subsequent resumption of business under a new company, free from those obligations.
Who is required to obtain a Director ID number, you ask? All directors of a company, registered Australian body, registered foreign company, or Aboriginal and Torres Strait Islander corporation are mandated to acquire this unique number. What’s more, this ID remains linked to the individual for their lifetime, irrespective of changes in employment, cessation of directorship, or relocation to another state or country.
When applying for a Director ID, it’s important to understand the steps to register a company in Australia to ensure compliance with all regulatory requirements.
Eligibility for Director ID
One may ponder on the eligibility criteria for a Director ID. The answer is quite straightforward. Individuals who are:
officers
directors
Aboriginal corporations
foreign directors
Individuals who meet the eligibility criteria are able to apply for a Director ID, essentially becoming their own director with a unique director identification number. The Director ID system plays a vital role in preventing fraudulent director identities, as the director id confirms a unique identifier assigned to each director.
Qualifying for a Director ID necessitates the officers to be eligible officers within a company, registered Australian body, or registered foreign entity. Additionally, they must meet the Registrar of the Australian Business Registry Services (ABRS) requirements for proving their identity. Australian company directors, even those of non-profit organisations and Aboriginal corporations, can apply for a Director ID. Fear not if you’re a foreign director, as you can obtain a Director ID in Australia by completing the application form and submitting it electronically.
Application Process
Having established who is eligible for a Director ID, the application process is the next topic of discussion. It might seem daunting, but it’s quite straightforward. Directors can apply for a Director ID number through the ABRS website. The best part is that it’s a one-time application process that doesn’t cost a penny.
A director is required to submit their driver’s license or learner’s permit and a passport that is not more than 3 years expired. After applying, directors can expect to receive their Director ID in 7-10 days, although there may occasionally be processing delays.
Explore the Director ID Guide to ensure compliance with Australian regulations. Additionally, learn about the process for a change of company name to navigate this transition smoothly.
Locating Your Director ID Number
After applying for and receiving your Director ID, one naturally wonders how to locate it. The answer is simple: use myGovID or contact the ABRS for assistance.
Using myGovID
myGovID is an application developed by the Australian Government to facilitate digital identity verification for individuals accessing government online services. It functions as a distinct digital identity for each user, offering a secure method for accessing a range of government services.
To establish a connection between your myGovID account and your Director ID, all you need to do is:
Download the myGovID app
Enter your details and set up your myGovID
Once you have a myGovID with at least a Standard identity strength, you can log in to ABRS online and connect it with your Director ID
Rest assured knowing that myGovID offers a high level of security for managing Director ID information.
Contacting ABRS
What if you don’t have a myGovID, though? Don’t worry, the ABRS is there to help. If you need assistance in finding your Director ID, you can get in touch with ABRS. They can provide support and help you locate your Director ID if needed.
You can reach out to ABRS through their designated contact numbers or through their website. They’re more than ready to assist you with any inquiries related to your Director ID.
Managing Your Director ID
Next, we will shed light on managing your Director ID. This involves two main aspects: updating your personal details associated with your Director ID and providing your Director ID to the relevant record holders. We will explore each of these aspects in detail.
Updating Personal Details
Updating your personal details for your Director ID is a breeze. You can do so through the official ABRS website. If you can’t update your details online, you can fill out the form available on their website. Remember to inform your company within seven days in case of any changes to your personal details.
To update your personal details via the myGovID portal, you’ll need to provide your full name, date of birth, and a personal email address. If you need to get in touch with ABRS to update personal details associated with your Director ID, you can find the contact information and necessary guidance on their website’s ‘Contact Us’ page.
Providing Your Director ID to Relevant Record Holders
Providing your Director ID to relevant record holders is an essential step in managing your Director ID. These record holders are the corporation’s record-holder, which could be the company secretary, another director, or the relevant corporation’s record holder.
When furnishing your Director ID to record holders, you need to provide the 15-digit Director ID number. This should be done as soon as you receive the ID. Providing your Director ID to the relevant record holders verifies your identity, ensures transparency and compliance with legal obligations, and enables the accurate maintenance of company records.
Responsibilities and Deadlines for Directors
Specific responsibilities and deadlines are set for directors to obtain and maintain their Director IDs. Current directors are required to submit their application for a Director ID by the deadline of 30 November 2022, while newly appointed directors are required to obtain a Director ID before their appointment.
Existing Directors
If you’re an existing director, you have until the 30th of November, 2022, to submit your application for a Director ID. The rationale behind this requirement is to comply with legal regulations that verify directors’ identities and to promote transparency and accountability in corporate governance.
But what happens if the deadline is missed? Directors who fail to obtain a Director ID before the specified deadline may be subject to significant fines and penalties due to non-compliance. So, it’s imperative to submit your application on time.
New Directors
For newly appointed directors, the requirements are slightly different. For directors who have become a director on or before 31st October 2022, you must apply by 30th November 2023. If you became a director from 1st November 2022 onwards you must apply before your appointment.
It’s critical to apply as soon as possible to avoid any potential penalties.
The application process is the same: set up a myGovID, gather the necessary documents, and complete the application through the Australian Business Register website. The necessary identification documents include a passport (current or expired no more than 3 years), driver’s license or learner’s permit, and a birth certificate.
Penalties and Enforcement
Serious consequences can ensue if directors fail to comply with the Director ID requirements. Directors may be subject to penalties of up to $13,200 under the Corporations Act or up to $1,100,000 under civil law.
A deeper understanding of these penalties and their enforcement is essential.
Offences and Penalties
There are four recently identified director ID offences under the Corporations Act 2001:
Failing to possess a director ID when obligated to do so
Failing to request a director ID when instructed by the Registrar
Applying for multiple director IDs
Misrepresenting a director ID
Each of these can lead to severe penalties.
The Australian Securities and Investments Commission (ASIC) is responsible for enforcing these penalties. Non-compliance can lead to civil offences ranging from $16,500 to $1,375,000, and criminal offences that may result in penalties of $33,000, 1 year imprisonment, or both.
Compliance and Support
Despite these potential penalties, it’s important to remember that support is available. ABRS provides assistance and guidance to directors to help them comprehend and fulfill their director ID obligations. They have customer service representatives available to address inquiries related to director ID and ABRS.
In addition to one-on-one support, ABRS offers educational materials on their website to aid in comprehending Director ID requirements. However, it’s important to note that non-compliance with director ID regulations may lead to penalties as stipulated by the law, and ABRS only takes enforcement action for more severe instances of non-compliance.
Summary
In conclusion, obtaining and accurately managing a Director ID is a crucial responsibility for all directors. The process might seem daunting, but with the right resources and support from ABRS, it’s a manageable task. Remember the deadlines for applying for a Director ID and ensure to update your personal details and provide your Director ID to the relevant record holders. After all, transparency and accountability are the bedrock of good corporate governance.
Helpful resources to read next
Frequently Asked Questions
How do I find my director ID number Australia?
By logging into ABRS online with your myGovID, you can view and check your Director Identification number, as well as your status, including the date it was issued.
Is a myGovID the same as a director ID?
No, a myGovID is not the same as a director ID. A myGovID alone isn’t sufficient to obtain a director ID; additional information and verifications are needed.
How do you check if a person is a company director?
To check if a person is a company director, conduct an ASIC search which will return real-time information related to the individual or company, including status and directors. Additionally, verifying the ACN number or ABN number through InfoTrack can provide free search results.
How much does a director ID cost?
Obtaining a director ID is free, with only one application needed.
Who is required to obtain a Director ID?
All directors of a company, registered Australian body, registered foreign company, or Aboriginal and Torres Strait Islander corporation are required to obtain a Director ID.
