Company directors have until 30 November to obtain a Director ID from the Australian Business Registry Services. According to the ABC, more than one million people could become ineligible to run companies by the end of this month — and face fines of up to $13,000 — if they don’t act fast. The Director ID has been introduced to crack down on ‘dummy directors’ and the practice of ‘phoenixing’. From 1 December, Director IDs will be mandatory for every director covered by the Corporations Act and must be in place by the end of November. You will need a director ID if you’re an eligible officer of: a company, registered Australian body, or registered foreign company under the Corporations Act 2001 (Corporations Act) an Aboriginal and Torres Strait Islander corporation registered under the Corporations (Aboriginal and Torres Strait Islander) Act 2006 (CATSI Act). An eligible officer is a person who is appointed as either: a director an alternate director who is acting in that capacity. 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 corporation. If you can’t apply by 30 November, complete an Application for an extension of time to apply for a director ID (NAT 75390, PDF 271KB). Find out more about the Director ID here. Need Help? Meeting your obligations as a company director and be complex and time consuming. At the Ayers Group we’re here to help. Our experts are on hand to assist with your administration and advise on compliance. Contact an expert at the Ayers Group today.