If you are currently a company director, or intend to be any time in the future, you will need a Director Identification Number (DIN).
You may not immediately think of yourself as a company director, but if you have a Self Managed Superfund, and that fund has a Corporate Trustee, then yes, you will need to apply for a DIN before 30 November 2022.
If this is you, then you have less than 12 months to comply with this new legislative requirement.
There are 3 main ways to apply;
- Online using your MyGovID login
- Phone
- Paper form
I have completed the Online version, and did it within about 10 minutes. That was because I read the instructions, and worked out which of the documents I would need, and also because I already had a MyGovID. If you are not sure about MyGovID and what it can do for you, check it out here: https://www.mygovid.gov.au/
On that page you will discover that myGovID is different from myGov.
The Online application page is here: https://www.abrs.gov.au/director-identification-number/apply-director-identification-number
Importantly, you need to remember that every director needs to have the Directors Identification Number. For some couples who use one email address and have one mobile phone, this could be problematic, as the government ID apps only allow one person per unique email or mobile number.
If that is you, and you are not inclined to get a new smart phone, then the phone based verification procedure might be the next best thing.
Both the online and phone verifications require you to provide details from two identity documents, as well as details for various other things that the ATO may have on file. These can include a notice of tax assessment, a bank account BSB & Account number that you had a recent tax refund paid into, super ABN & Member number details, or a Centrelink payment summary. A full list is here: https://www.abrs.gov.au/director-identification-number/apply-director-identification-number/verify-your-identity
To save yourself from frustration, it is best to look up the list and find the documents before you make the call.
A third option is to do a paper based application. That will require completing and sending the form from here: https://www.abrs.gov.au/sites/default/files/2021-10/Application_for_a_director_identification_number.pdf as well as some documents certified by a short list of acceptable certifiers found on the main page.
Importantly, your accountant or adviser cannot apply for you. It has to be done by the individual who is to be issued with a Director Identification Number.
Although we have almost a year, it is best to get started early and sort this out if you are a current company director.
