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How to Acquire a Director Identification Number (DIN)?

The Director Identification Numbers (DINs) are now available. There will be no more surprises and no more pondering how it will all come together. Next, remember to follow the below instructions to obtain one.


Read on to learn about getting a DIN and where you can get accounting services.


What is a Director Identification Number (DIN)?


In short, it's a unique 15-digit number that a director must obtain and keep so that ASIC knows who you are and that you're not a made-up person or using stolen information.


There is only one DIN that you can use for all businesses for which you are a director, including trustee corporations for your family trust or self-managed super fund.


When Is It Necessary to Get A DIN?


It is reliant on when you started as a director:


  • If you were appointed on or before 31st October 2021, you must apply for a DIN by 30th November 2022.

  • If you were appointed between 1st November 2021 and 4th April 2022, you must apply for a DIN within 28 days of the appointment.

  • If you were appointed from 5th April 2022, you must apply for a DIN before the appointment.


What Is the Procedure for Obtaining a Director Identification Number?


To begin with, your accountant on the Gold Coast will not be able to assist you in this step. This is something you must do since you must demonstrate your identity.


There are a few options for obtaining a DIN, including the following:


Make Use of MyGovID


Getting a DIN is a breeze if you already have MyGovID set up. It can take less than 5 minutes to do it. If you don't have a MyGovID yet, the process can be tedious for you. However, you can ease the procedures by following these steps:


  1. Visit the new website of the Australian Business Registry Services.

  2. Then, under "Director Identification Number," choose "apply now."

  3. Select "How to set up MyGovID" from the drop-down menu.

  4. Then take out your wallet and rummage through your drawers for your vital documents, such as your birth certificate and passport.

  5. Then, to create your MyGovID, follow the on-screen instructions.


What to Do Once You've Created A MyGovID


  • Return to this page. Then, click the green button that indicates "apply now with MyGovID."

  • Your MyGovID and ATO information will be pre-filled, so all you have to do now is put in your date of birth, postal address, phone number, and any previous names to complete the declaration.

  • After completing all of these steps, you'll receive your Director Identification Number right away (DIN). Take a screen photo of it, print it out, and scribble it down. Then submit that number to your Gold Coast tax accountant or whoever handles ASIC administration for your business. They'll have to enter it into the corporate register of your firm.


How to Get a DIN Over the Phone


You can apply by phone if you can't (or don't want) to receive a myGovID with a standard or strong identity strength.


If you have the following, you can apply by phone:


An Australian TFN – The data required to confirm your identity, such as;


  • An ATO Notice of Assessment

  • Bank account details

  • Centrelink payment summary

  • Dividend statement

  • PAYG Payment summary

  • Residential address as held by the ATO

  • Superannuation account details


For directors in Australia, the phone number is 13 62 50, accessible from Monday through Friday, with access times from 8:00 a.m. to 6:00 p.m. The number for directors phoning from outside Australia is +61 2 6216 3440.


Fill Out the Form


On the other hand, if you can't apply online or over the phone, you can use the 'Application for a Director Identification Number' printable form (NAT 75329).


This is a more time-consuming procedure, and you'll have to give certified copies of your documents to prove your identification.


So, if you already have a MyGovID, this should be simple; if not, select the best of the worst and get started. Before the deadline, you must apply for your Director Identification Number. Failure to do so will result in a hefty fine of $1,110,000 and a year in prison.


Conclusion


Every Director/Designated Partner, whether they are appointed in an existing Company/Limited Liability Partnership or a newly created Company/Limited Liability Partnership, must have a Director Identification Number (DIN).


New Wave Accounting provides end-to-end accounting and bookkeeping services that help firms develop and flourish on the Gold Coast. Our Gold Coast tax accountants thoroughly understand each sector to provide customised solutions for our customers. If you need accounting services, contact us!






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