All directors of Australian companies must hold a Director Identification Number (DIN) or risk prosecution by ASIC. Below we simplify the process for how to get a DIN.
When you must obtain a DIN by depends on when you first became a director. If you were first appointed:
Failure to apply within the relevant timeframes is an offence under the Corporations Act 2001 (Cth) and can attract criminal and civil penalties.
The application process requires directors to verify their identities personally, without the use of an agent; this means that lawyers cannot apply on a director’s behalf.
Directors can apply using one of three methods, depending on whether they are located in Australia or overseas:
The Government recommends the online MyGovID application method. The process takes about 5 minutes and is the fastest method for applicants.
Edwards and Co Legal has prepared the schematic below to simplify the DIN application process and information requirements:
For more information on DINs, please see our previous articles ‘New Directors Must Now Get a Director ID Before Appointment‘ and ‘Company Directors Set to Get IDs from New Government Watchdog‘.
Edwards and Co Legal are experts in Australian corporate regulatory matters. If you have a question about DINs or other corporate regulatory matters, please contact us as below.
+ + +