Directors – numbered for life

It’s on its way – a director ID (Director Identification Number).

A unique identifier that a director will keep forever.

The aim is to prevent the appointment of fictitious directors (Homer Simpson, Marilyn Monroe), and facilitate traceability of their profile and relationships with companies over time.

Some detail:

  • Expected to begin in the first half of 2021 (once the application system has been developed and deployed).
  • Current directors: will have 18 months to verify their identity.
  • New directors: for the first 12 months, new directors will have 28 days to verify themselves and obtain a number. After 12 months, new directors will have to have a DIN before they can be registered.
  • Creation of a new “super registry”, which would include DINs, to be operated by the ATO.

* Commonwealth Registers Bill 2019 (and associated Bills)