This includes directors of SMSF and Family Trust Trustee Companies
The new rules for company directors came into operation on 1 November 2021. All directors, including directors of a self-managed superannuation fund (SMSF) or of a family trust trustee company are required to have a director identification number (DIN).
The DIN is a 15-digit unique and permanent identifier given to a director (or someone who intends to become a director) who has verified their identity. It is issued by the Australia Business Registry Services (ABRS) to combat and prevent fraud, and to streamline how businesses register, view and maintain their business information with the government.
Eventually, every director will hold a single DIN, regardless of the number of directorships held. If you are a director, or acting as an alternate director, you are required to register.
When will you need a DIN?
When you are required to apply for a DIN depends on the date you became a director.
| Date you became a director | Date you must apply |
| On or before 31 October 2021 | By 30 November 2022 |
| Between 1 November 2021 and 4 April 2022 | Within 28 days of appointment |
| From 5 April 2022 | Before appointment |
How to apply for your DIN?
You can apply for a DIN at abrs.gov.au/directorID – it is free of cost and you only have to do it once.
You must apply for your DIN personally as you need to verify your identity. No one else can apply on your behalf.
Whilst First Samuel is unable to apply for a DIN on your behalf, please contact your Private Client Adviser should you have any queries regarding this requirement.
What to do with your DIN
Once you have your DIN, you should keep it as secure as you would a bank account number. You are required to provide it to the company secretary of any company of which you are a director, and may choose to provide it to an accountant, ASIC registered agent or tax professional for record keeping purposes.
What happens if you don’t apply for your DIN
Where a director refuses, or is unable to comply, ASIC may impose penalties and could act to cease the directorship. Where the company is acting as a trustee for an SMSF this may cause a breach of the SMSF trustee/member rules and may require the member to leave the fund.
If you are considering establishing an SMSF or Family Trust, your First Samuel Private Client Advisor can assist you in the process.