Do you have a Self-Managed Super Fund (SMSF) or Company?
Have you registered for your Director Identification Number (DIN)?
If not, you MUST set up a DIN by 30 November 2022 to avoid a $13,200 fine!
A director ID is a unique identifier that a director will apply for once and keep forever – which will help prevent the use of false or fraudulent director identities.
All directors of a company, registered Australian body, registered foreign company or Aboriginal and Torres Strait Islander corporation will need a director ID.
Shareholders, employees, creditors, consumers, external administrators and regulators are entitled to know the names and certain details of the directors of a company.
All directors of a company are required by law to verify their identity before receiving a director ID. This is important because it will help to:
– prevent the use of false or fraudulent director identities
– make it easier for external administrators and regulators to trace directors’ relationships with companies over time
– identify and eliminate director involvement in unlawful activity, such as illegal phoenix activity.
Please review the following links to set up your DIN. If you run into issues, please give us a call and book in to see Nick, who can assist you with this. If you need to make an appointment with Nick in our Sutherland or Picton offices, a modest fee of $90 + GST will be payable.
Please call Nick on (02) 9545 0488.
Please follow the set-up instructions explained below:
https://www.abrs.gov.au/director-identification-number/apply-director-identification-number
For more information on what a Director ID is:
https://www.abrs.gov.au/director-identification-number/apply-director-identification-number
For more information on Director ID penalties:
https://asic.gov.au/for-business/running-a-company/company-officeholder-duties/director-identification-number/#faq3
