The Modernising Business Registers program will introduce director identification numbers (director ID) for company directors. A director ID is a unique identifier that a director will keep forever. A director ID will provide traceability of a director’s relationships over time, and across companies, to help regulators and external administrators to investigate a director’s involvement in unlawful activities, including illegal phoenix activity.
The need for Responsible People to have a director ID will only affect charities that have directors (eg companies, ORIC registered companies, ARBNs).
The earliest date director IDs will come into effect is late 2021. Affected charities will be contacted before directors need to apply for a director ID.
At this point, Responsible People don't need to take any action.
More details about director IDs can also be found on the ATO website www.ato.gov.au/General/Gen/Modernising-Business-Registers/.
Story updated: 6 May 2021