Director ID Changes from 1 July 2027

From 1 July 2027, companies will begin providing their directors' identification numbers to ASIC through existing company reporting processes, including annual reviews and notifications of changes to director details.

There is nothing clients need to lodge simply because of this change today.

But ASIC is encouraging companies and directors to use the time beforehand to make sure their records are accurate.

What is changing?

Director IDs already exist, and directors who are required to have one should already have applied.

What changes from 1 July 2027 is the connection between director IDs and ASIC company records.

Companies will be required to provide director IDs to ASIC through company reporting processes.

ASIC says the changes are intended to improve the accuracy of company information, reduce identity misuse and make it easier to identify relationships between directors and companies.

What should directors check now?

If you are a director of one or more companies, it is worth checking:

• each company has the correct directors recorded;
• director names are recorded correctly;
• registered office and business addresses are current;
• director addresses and contact information are up to date; and
• each director who requires a director ID has one.

This can be particularly relevant where you have several entities — for example, an operating company, trustee company, investment company or SMSF corporate trustee.

Small inconsistencies can accumulate when companies have been established at different times or details have changed over the years.

Why deal with it now?

There is no need for urgency.

The advantage of checking early is simply that discrepancies can be corrected in the ordinary course rather than discovering them when an annual review or company change needs to be processed after the new requirements commence.

ASIC has indicated that further guidance will be provided before 1 July 2027.

Have several companies or unsure whether your records are current?

If we act for your companies, we can help identify anything that should be updated ahead of the new director ID reporting requirements.

Contact us if you'd like us to review your company details.

General information only. Director ID and company reporting requirements can change. Specific advice should be obtained where required.

Tommy Li, CA

Director, Verity Advisory  |  Registered Tax Agent  |  Authorised Financial Adviser (ASIC Rep No. 1261831)  |  Member, Chartered Accountants Australia & New Zealand

Tommy is a Chartered Accountant with 20+ years advising medical professionals on tax, financial structure and practice ownership decisions. He founded Verity Advisory to provide integrated advice for doctors at career-defining financial inflection points — combining tax, lending and financial planning into a single structured approach.