Director Identification Number Requirements for SMSFs
Learn all you need to know about a Director ID. Who needs one? How to get one? By what deadline? And more…
Due to newly introduced legislation, all company directors are required to obtain a director ID - including directors of a corporate trustee for a self-managed super fund (SMSF).
What is a director identification number?
A director ID is a 15-digit unique identifier given to a director who has verified their identity with the Australia Business Registry Services (ABRS). It was introduced to help:
Prevent the use of false and fraudulent director identities.
Make it easier for external administrators and regulators to trace directors’ relationships with companies over time.
How to apply for a director identification number?
Anyone who is a company director or intends to become a company director can apply for a director identification number via the Australian Business Registry Services website here. On this page, you will find information on how to register online, over the phone or via a paper application depending on your circumstances.
Unfortunately registering for a director ID is not something your SMSF administrator, accountant or adviser can do on your behalf. Directors (or soon to be directors) must apply for their own director ID.
To complete the application process, you need to be able to prove your identity using a minimum of 2 identity documents such as your Australian passport and driver's licence. You will also need additional information to verify your identity such as bank account details, an Australian Taxation Office (ATO) notice of assessment, a dividend statement for shares you own in your own name, etc.
Who needs a director identification number?
The director ID requirement applies to all existing directors of a company, corporate trustee (including SMSFs), an ASIC registered foreign company, Aboriginal and Torres Strait Islander corporations, and anyone intending to become a director of an existing or new company.
You will only ever need one director ID. You don't have to apply for another one if you become a director of other companies or corporations.
When do I need to apply for a director identification number?
If you intend to set up an SMSF with Stake Super or wish to update the trustee structure of your SMSF to a corporate trustee, you should apply for the director ID before completing the application.
If you already have an existing SMSF please refer to the below table for a summary of the dates on which you need to apply for a director ID:
First appointed as director
Date you must apply by
On or before 31/10/21
Between 01/11/21 - 04/04/22
Within 28 days of appointment
Penalties may be applicable if you don’t apply for a director ID before the deadlines.
How will I receive my director identification number?
When applying online you should receive your director ID instantly. If you are applying from outside Australia and using a paper application form, your director ID will be sent to the postal address provided in the application.
What do I do with my director identification number once I have it?
Once you have obtained your director ID keep it safe. A director ID can be shared with your accountant, company secretary, ASIC registered agent or tax professional. When the ASIC companies register is transitioned to the ABRS in the future, director IDs will be linked to the companies of the director.
Keep up to date with any changes that affect director ID holders through the ABRS website.
Director identification number FAQs
How does this affect SMSF members?
This requirement only affects SMSF members who have a corporate trustee SMSF structure and therefore act as directors of that corporate trustee.
Are all Stake Super customers required to obtain a director identification number?
All SMSFs set up by Stake Super are set up using a corporate trustee structure in order to provide increased flexibility and protection. These SMSFs must obtain a director ID. Existing SMSF holders using an individual trustee structure who have transferred (or are intending to transfer) the administration to Stake Super will not need to obtain a director ID.
Do I need to provide my director identification number to ASIC?
There is no requirement to provide your director ID to ASIC, unless otherwise requested.
Who can I speak to at Stake if I have more questions?
If you have any questions about obtaining a director ID or anything about Stake Super more generally, email us at firstname.lastname@example.org and our SMSF specialists will be more than happy to help.
We do not provide financial product advice, nor recommend that a self managed super fund (‘SMSF’) may be suitable for you. There are risks and differences of an SMSF compared to an APRA regulated fund. Your personal situation has not been taken into account. Stake SMSF Pty Ltd (‘Stake Super’) is not licensed to provide financial product advice under the Corporations Act. This specifically applies to any financial products which are established if you instruct Stake Super to set up an SMSF. When you sign up to Stake Super, you are contracting with Stake SMSF Pty Ltd who will assist in the establishment of an SMSF under a ‘no advice model’.