ASIC has announced changes to director identification number (Director ID) reporting requirements that will take effect from 1 July 2027.
From this date, companies will need to provide the Director ID of each director when submitting certain company information to ASIC. The changes form part of broader reforms aimed at improving the accuracy of Australia's business registers and reducing the risk of fraud and identity misuse.
While the new requirements do not begin until 2027, now is a good time for companies to review their records and ensure all directors have obtained a Director ID.
A Director ID is a unique 15-digit number issued to an individual who is a director, or plans to become a director, of an Australian company.
The number stays with the director permanently, even if they change companies, stop being a director, move interstate or change their name. Directors only ever receive one Director ID.
Director IDs are administered by the Australian Business Registry Services (ABRS) and were introduced to help prevent the use of false or fraudulent director identities.
Currently, companies are not required to provide Director IDs when lodging company information with ASIC.
From 1 July 2027, companies will need to provide Director IDs to ASIC through company reporting processes, including annual reviews and when notifying ASIC of certain changes to director details.
These changes are intended to:
The changes apply to:
If a company has multiple directors, it will need to provide the Director ID for each current director.
Although the reporting requirements do not commence until 2027, businesses can take several practical steps now to prepare.
Check that your ASIC records accurately reflect:
Identifying and correcting discrepancies now may help avoid issues when the new requirements commence.
All directors of Australian companies are required to have a Director ID. If a current director has not yet obtained one, they should apply through the ABRS.
We recommend that companies keep a secure internal register containing:
Having a central record will make it easier to meet ASIC reporting requirements and respond to future compliance obligations.
When appointing a new director, confirm they have obtained a Director ID before appointment and ensure the details are recorded in your company records.
For clients using Boyce Corporate Registry Services, we can assist with reviewing ASIC records, identifying discrepancies and maintaining accurate company information.
If Boyce does not currently manage your company records, we can still assist with reviewing your ASIC registrations and discussing the steps required to prepare for the 2027 changes.
Preparing now can help reduce administration later and ensure your company is ready when the new reporting requirements commence.
If you would like assistance reviewing your company records or understanding how these changes may affect your business, get in touch with your local Boyce office or contact our Corporate Registry Services team.
