ASIC: New ID Requirements for Directors

ASIC has recently announced a new requirement for identity verification for company directors. Following a successful application, directors will be given a ‘director ID’ that will be connected permanently with the individual. All directors of a company, registered Australian body, registered foreign company or Aboriginal and Torres Strait Islander corporation will need a director ID.

Application deadlines vary depending on when directors were appointed:

  • Existing directors have until 30 November 2022 to apply.
  • Directors appointed between 1 November 2021 and 4 April 2022 must apply within 28 days of their appointment.
  • From 5 April 2022, intending directors must apply before being appointed.

You can submit an application via the Australian Business Registry Services website here.

Read more from ASIC here.

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