For directors that have been appointed on or after 1 November 2021, you have 28 days to register for a director identification number (DIN). For all directors appointed prior to this date, you still need to apply for a DIN. Confused about the process? We’ve simplified it for you.
Background
The new DIN regime commenced on 1 November 2021. All directors of a company, registered Australian body, registered foreign company or Aboriginal and Torres Strait Islander corporation will need to apply for their unique 15-digit DIN.
Applications for DINs opened on 1 November 2021. The deadline for DIN applications will depend on when a director was appointed.
When do directors need to apply for a DIN?
The table below sets out when directors of companies registered under the Corporations Act 2001 (Cth) (Corporations Act):
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31 October 2021 or earlier
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1 November 2021 to 4 April 2022
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28 days from the appointment date
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How to apply for a DIN
Directors will need to apply for their own DIN. The application can be lodged in three ways:
- Online: via the Australian Business Registry Services, provided that the applicant has a myGovID, Australian tax file number (TFN) and two approved identification documents;
- Phone: provided that the applicant has a TFN and two identification documents; or
- Paper form: provided that it is accompanied by two certified and approved identification documents.
What do directors need to do with their DIN?
Once a director receives their DIN, they need to provide it to the record holder (e.g. the company secretary) of each company in which they hold office. Directors are not required to provide their DIN to the Australian Securities and Investments Commission.
What happens if a director fails to comply?
Failure to comply with the DIN regime can attract significant civil and/or criminal penalties. Summarised below, the Corporations Act introduces four new offences related to DINs.
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Maximum penalties for individuals
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Failure to have a DIN when required to do so
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Failure to apply for a DIN when directed by the registrar
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Applying for multiple DINs
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$26,640, 1 year imprisonment or both (criminal)
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$26,640, 1 year imprisonment or both (criminal)
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Need help? Contact us
If you would like assistance with understanding the new DIN requirements or corporate governance and compliance requirements, please click here to be contacted by one of our team members.
