In this video I’ll be walking you through how to apply for your Director ID.
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From 1st of November, it is now a legal requirement for all new and existing directors to register for a Director ID. A Director ID is a unique 15 digit numerical identifier that a director will apply for once and keep forever. Your Director ID will remain the same even if you stop being a company director, change your name or move overseas. Directors must apply for their direct ID themselves. Unfortunately we can't apply on your behalf so simply follow this guide.
To apply for your director ID it’s a 3 step process.
Step 1 is ensuring that you have a mygovID. Note that myGovID is different from myGov myGovID is an app. You download the myGovID app to your smart device. It lets you prove who you are and log in to a range of government online services, including myGov.
myGov is an account. Your myGov account lets you link to and access online services provided by the Australian Taxation Office (ATO), Centrelink, Medicare and more.
You can essentially think of mygovID as your key into your government accounts. If you already have a mygovID you can skip to step 2.
To get your mygovID first install the app on your smart device from the apple store or google play store. Open the app and follow the prompts to enter your personal details. Once you've reached the home page you will then need to prove your identity in order to achieve a standard identity strength at the very least. You’ll need 2 pieces of ID information such as a drivers license or medicare number to do so. When you submit your info, be patient as it may take a few minutes to verify. Once you have obtained your standard identity strength you can move ahead to the next step.
The next step is to gather your documents. Examples of the documents you can use to verify your identity include:
-bank account details
-an ATO notice of assessment
-super account details
-a dividend statement
-a Centrelink payment summary
-a PAYG payment summary (this is different to your income statement, -and/or your PAYG instalment activity statement).
Note that these are your personal details and not those of your company.
Next we move onto step 3 which is to apply for your director ID
You’ll first be taken to the this page where you’ll enter your mygovID email. Open up your mygovID app and enter in the given code to verify it’s you.
Next you’ll quickly need to submit your proof of record ownership
Read the prompts and agree to the terms if you want to process.
Check your details given by the ATO and click next. Then you’ll need to provide 2 pieces of information to confirm it’s you. Remember these are your personal details and not those of the company. Fill those in and submit.
You’ll then be taken to the director ID page. Read the prompts and confirm that you’re an eligible officer or in tend to be within the next 12 months.
Confirm and enter your personal details. Click next and then tick the declaration to acknowledge that your details are correct.
If you get a prompt saying that your email is unable to be verified, just double check you’ve entered it correctly. It may still show, but that’s ok, you can still proceed. Click submit and then you’ll be issued a director ID on the spot. Make note of this number and keep it safe.
The Field Group Accounting
This document contains general advice only and is prepared without taking into account your particular objectives, financial circumstances and needs. The information provided is not a substitute for legal, tax and financial product advice. Before making any decision based on this information, you should speak to a licensed financial advisor who should assess its relevance to your individual circumstances. While The Field Group believes the information is accurate, no warranty is given as to its accuracy and persons who rely on this information do so at their own risk. The information provided in this bulletin is not considered financial product advice for the purposes of the corporations Act 2001.
