If your SMSF will have a company trustee, all members must have a Director Identification Number (Director ID) before setting up the SMSF.
How to get a Director ID
Follow these instructions to get your Director ID:
Set up myID;
Download the app here: https://www.myid.gov.au/how-set-myid
Note: myID is different from your myGov account.
Prove your identity via the app:
Gather your documents;
Complete your application.
Apply with your myID via the ABRS here:
https://abrs.gov.au/persons/ui/secure/start/applyForDirectorID?action=applyfordirectorid
The application should only take a few minutes.
Provide your Director ID number to Grow below or enter it during your SMSF application when setting up a new SMSF.
When you must have a Director ID
When you must get a Director ID will depend on when you became a director of a company:
Date you become a director | Date you must apply for a Director ID |
On or after 5 April 2022 | BEFORE you become a director |
1 November 2021 to 4 April 2022 | Within 28 days of becoming a director |
Before 31 October 2021 | Before 14 December 2022* |
Frequently Asked Questions
Do I need a Director ID?
Yes. If your SMSF has or will have a trustee company, you need ta Director ID.
Really?
Yes.
Even if you have no plans to become a director of another company apart from your SMSF trustee company, you still need a Director ID.
Do all directors of my SMSF trustee company need a Director ID, or just one?
All directors MUST obtain their own individual Director ID.
I have my Director ID. What now?
It is only needed when you apply to become a director of a different company in the future. Please keep it safe.
You can provide Grow your Director ID here: Update Details > Director ID
What happens if I don't get a Director ID?
You may receive a strongly worded letter or email from Australian Business Registry Services.
ASIC is enforcing the Director ID requirement and apparently can issue a fine for up to $13,200.
Can Grow apply for a Director ID for me?
No.
You must do it yourself by setting up and using myID which will able you to log in and access Government services in the future.
myGovID is different to your personal myGov account.
I already obtained a Director ID when I set up another (non-SMSF) company. Do I need another Director ID for the SMSF?
No.
It is one Director ID per individual.
I should have already got my Director ID but I have not. Will I be fined?
Unlikely, but ASIC can issue a fine of up to $13,200 if you don't apply for your Director ID when instructed.
Should I set up my SMSF with individual trustees so I don't need to worry about getting a Director ID?
That depends on your situation and the investments the SMSF will hold.
More information: Corporate trustee vs individual trustees SMSF
My SMSF has individual trustees. Do I need a Director ID?
Not unless you are a director of another company unrelated to the SMSF.
Why do I need a Director ID when I only act as director of my SMSF trustee company?
Valid question.
It's to help prevent illegal phoenix activity.
More information: https://www.abrs.gov.au/director-identification-number/about-director-id