Introduction of Director ID - Client letter and fact sheet
From 1 November 2021, the Government has introduced a requirement for your directors of companies to obtain a Director Identification Number (Director ID).
Within the SMSF sector, this is expected to impact over 60% of all SMSFs (nearly 700,000 individuals) who will need to apply within the prescribed timeframes.
To assist you in communicating this important information to your clients about the new Director ID requirements, we have created the following two documents that can be utilised to help explain these new laws, along with the steps to register for a Director ID:
- Cover letter - Introduction of Director ID: this is a word document that you can use with your own clients. You can tailor to suit your own needs, whether it be to send as an email or to more formally send by post.
- Fact Sheet - Director ID: this is a word document that is referenced in the cover letter and provides more detail about the registration process, penalties and more. You can add you own logo and update as you wish.
New company incorporations:
Please note that we have included a similar fact sheet into any new company orders so that directors obtain their Director ID within the prescribed timeframe.