From November 2021, company directors will need to verify their identity as part of a new director identification number (director ID) requirement.
A director ID is a unique identifier that a director will apply for once and keep forever.
This applies to directors if their organisation is a company, registered foreign company, registered Australian body or Indigenous corporation.
Directors must apply for their director ID themselves because they will need to verify their identity. No one can apply on their behalf.
The new Australian Business Registry Services (ABRS) is responsible for the implementation and administration of director ID. ASIC will be responsible for the enforcement of associated offences.
When fully established, the ABRS will bring together the Australian Business Register and over 30 ASIC registers. This work is being delivered under the government’s Modernising Business Registers program.