In this article we discuss the important Director Identification Number (DIN) deadline directors should be aware of.
Directors appointed prior to or on 31 October 2021 have until 30 November 2022 to apply for a DIN.
The changes, which came into effect on 1 November 2021, require all directors to obtain a DIN. A DIN is a unique identifier for every director, which is allocated once and kept forever (similar to a tax file number), for the purpose of preventing the use of false or fraudulent director identities. We have previously described the DIN scheme and what is required for directors.
Directors appointed prior to or on 31 October 2021 have until 30 November 2022 to apply for a DIN. Existing directors should promptly obtain a DIN by following the steps that we have previously outlined to avoid any penalties under the Corporations Act 2001 (Cth) (Corporations Act).
Directors appointed to organisations incorporated under the Corporations (Aboriginal and Torres Strait Islander) Act 2006 (Cth) on or before 31 October 2022 have until 30 November 2023 to apply for a DIN. Directors appointed under the Corporations (Aboriginal and Torres Strait Islander) Act 2006 (Cth) from 1 November 2022 must apply for a DIN before their appointment.
Any new appointee to a board made under the Corporations Act who does not already have a DIN will need to apply for their DIN before being appointed.
Should have any queries, please get in touch with our Corporate Advisory and Governance Team.