News The Latest from Automic Group AGMs Appointed as a director since November 2021? You have 28 days to register for a DIN. By Automic IT | 24 December 2021 For directors that have been appointed on or after 1 November 2021, you have 28 days to register for a director identification number (DIN). For all directors appointed prior to this date, you still need to apply for a DIN. Confused about the process? We’ve simplified it for you. Background The new DIN regime commenced on 1 November 2021. All directors of a company, registered Australian body, registered foreign company or Aboriginal and Torres Strait Islander corporation will need to apply for their unique 15-digit DIN. Applications for DINs opened on 1 November 2021. The deadline for DIN applications will depend on when a director was appointed. When do directors need to apply for a DIN? The table below sets out when directors of companies registered under the Corporations Act 2001 (Cth) (Corporations Act): Appointment dateDeadline to apply31 October 2021 or earlier30 November 20221 November 2021 to 4 April 202228 days from the appointment date5 April 2022 or afterPrior to appointment How to apply for a DIN Directors will need to apply for their own DIN. The application can be lodged in three ways: Online: via the Australian Business Registry Services, provided that the applicant has a myGovID, Australian tax file number (TFN) and two approved identification documents; Phone: provided that the applicant has a TFN and two identification documents; or Paper form: provided that it is accompanied by two certified and approved identification documents. What do directors need to do with their DIN? Once a director receives their DIN, they need to provide it to the record holder (e.g. the company secretary) of each company in which they hold office. Directors are not required to provide their DIN to the Australian Securities and Investments Commission. What happens if a director fails to comply? Failure to comply with the DIN regime can attract significant civil and/or criminal penalties. Summarised below, the Corporations Act introduces four new offences related to DINs. OffenceMaximum penalties for individuals Failure to have a DIN when required to do so$13,200 (criminal)$1,100,000 (civil)Failure to apply for a DIN when directed by the registrar$13,200 (criminal)$1,100,000 (civil)Applying for multiple DINs$26,640, 1 year imprisonment or both (criminal)$1,100,000 (civil)Misrepresenting DIN$26,640, 1 year imprisonment or both (criminal)$1,100,000 (civil) Need help? Contact us If you would like assistance with understanding the new DIN requirements or corporate governance and compliance requirements, please click here to be contacted by one of our team members. Latest Articles News A day in the life of: Eric Merven, Customer Success Manager By Automic IT | 3 April 2024 Media Release Automic becomes number one share registry in Australia for ASX-listed companies By Automic IT | 7 March 2024 News A day in the life of: Nilendra Fonseka, Senior Product Manager By Automic IT | 27 February 2024 View all news