The director identification number (DIN) is a unique identifier given to directors who have verified their identities with the Australian Business Registry Services.
All directors need to apply for a DIN. The easiest way to apply is online via your mygov account. The application must be made personally.
If you were already a director on or before 31 October 2021, you have until 30 November 2022 to apply for your DIN.
If you are appointed a director between 1 November 2021 and 4 April 2022, you will need to apply within 28 days of your appointment. For proposed appointments after 4 April 2022, application for a DIN must be made prior to the appointment.
Where you have provided in your estate planning arrangements for others to succeed you in the role of director of one or more private companies (via appointment of those persons as Successor Directors), we recommend that you prompt those persons to obtain a DIN as soon as possible in anticipation of those appointments taking effect.
Failure to apply for a DIN within the relevant prescribed timeframe is an offence under the Corporations Act 2001.
If you would like to discuss the implications of this new requirement in the context of your affairs and/or your succession planning, please let us know.
By: Rachael Ryan