From November 2021, anyone holding a Director position or those planning on becoming a Director must apply for a Director Identification Number (DIN). A DIN is a unique identifier that a director will apply for once and keep forever to help prevent the use of false or fraudulent director identities.
Directors need to register for a DIN in order to meet their obligations under the Corporations Act 2001 (Cth) and the Treasury Law Amendment (Registries Modernisation and Other Measures) Act 2020 (Cth).
All directors of a company, registered Australian body, registered foreign company or Aboriginal and Torres Strait Islander corporation will need a director ID.
Directors must apply for a DIN themselves as they need to verify their identity. We (or anyone else) can not apply on your behalf.
When you must apply for your director ID depends on the date you become a director.
Date you become a director Date you must apply
On or before 31 October 2021 By 1 November 2022
Between 1 November 2021 and 4 April 2022 Within 28 days of appointment
From 5 April 2022 Before appointment
The penalties for non-compliance are steep. Directors who fail to obtain a DIN within the required timeframes may be issued an infringement notice and could face criminal charges and/or civil penalties of up to 5,000 penalty units (currently $1.11 million).
Click here to see details on how to apply for your Director Identification Number.
If you have any queries, please contact our office.
BACKGROUND
McLaren Hunt Financial Group is a regional accounting firm based in South West Victoria which provides a complete range of accounting, taxation, audit, agribusiness services, superannuation and financial planning services to individuals and businesses.
Our firm consists of over 60 talented individuals who deliver a high level professional service while striving to always be progressive, forward thinking, pragmatic and sensibly creative. Read more +
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PO Box 677 Warrnambool
VIC 3280
Australia
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+61 3 5562 0689
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