The Australian Business Registry Service’s (ABRS) Director ID program made it compulsory for all Australian company directors to verify their identify by applying for a director ID number.
The roll out began in 2021, with all existing Australian company directors having from 1 November 2021 till 30 November 2022 to apply.
With this 30 November 2022 due date now fast approaching we thought it would be a good time to discuss the potential penalties that can be applied against directors who do not meet their director ID obligations.
The ABRS will provide support and guidance to directors to assist them to understand and meet their director ID obligation. ASIC’s enforcement role covers four new director ID offences under the Corporations Act 2001.
If you are unsure if you have meet your Director ID requirements, or need assistance please contact our office.
Our Application guide can be downloaded below
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