From 1 July 2027, companies will be required to provide directors' director IDs to the Australian Securities and Investments Commission (ASIC) through company reporting processes, including annual reviews and notifications of director changes. The reforms are intended to improve the integrity and accuracy of Australia's business registers, reduce fraud and identity misuse, and make it easier to identify company directors.
Businesses, directors and advisers should use the lead-up period to review and reconcile director information held by ASIC and the Australian Business Registry Services (ABRS) to minimise compliance risks once the new requirements commence.
ASIC confirms next phase of director ID implementation
On 30 June 2026, the Treasury Laws Amendment (Business Registries Stabilisation and Uplift) Act 2026 (Cth) received Royal Assent, amending the Corporations Act 2001 (Cth) to require companies to provide director IDs to ASIC as part of company reporting obligations from 1 July 2027. These obligations will apply through existing reporting channels, including annual review processes and notifications relating to director appointments and changes.
ASIC has indicated that the companies register will display whether a company has provided director IDs for its directors. Additional guidance and implementation information is expected ahead of the commencement date.
Why are these changes being introduced?
The director ID regime was originally introduced to combat illegal phoenix activity, improve the traceability of individuals across corporate structures and strengthen confidence in Australia's corporate registers.
According to ASIC, the 2027 reforms are intended to:
- reduce the risk of fraud and identity misuse;
- improve the accuracy of company records;
- make it easier to identify company directors; and
- improve the quality and usability of registry information.
Following the decision to discontinue the Modernising Business Registers program, the reforms stabilise Australia's existing business registry framework and link director IDs to the ASIC Companies Register for the first time. ABRS remains responsible for verifying director identities and administering director IDs, while ASIC remains responsible for company registration, incorporating director ID information into the companies register and enforcing compliance obligations.
What do companies need to do?
While the reporting obligation does not commence until 1 July 2027, ASIC is encouraging companies and advisers to begin preparing now. ASIC recommends that companies:
- review company records to ensure they are current;
- confirm that all current directors are correctly recorded;
- update incorrect names, addresses and contact information;
- compare director information held by ASIC with information held by ABRS to identify any discrepancies; and
- remind directors to update any personal details that may have changed since obtaining their director ID.
Directors can update their information directly with ABRS and obtain a PDF copy of their director ID details through the ABRS "Manage your director ID" service.
Companies are recommended to commence a review exercise well before July 2027 to ensure they are ready to comply with the new reporting obligations.
Key takeaways
The director ID regime is moving into its next phase. From 1 July 2027, companies will be required to provide director IDs to ASIC through company reporting processes.
In preparation, companies should:
- verify that all current directors have obtained a director ID where required;
- review ASIC company records for accuracy;
- reconcile ASIC and ABRS records;
- update outdated personal details and contact information; and
- develop internal processes for collecting and maintaining director ID information.
Failure to prepare early may result in additional administrative burden and potential compliance issues once the new requirements commence.
How we can help
Russell Kennedy's Corporate and Commercial team will continue to monitor for further updates from ASIC and can assist companies, directors and advisers to:
- review governance and corporate records;
- identify discrepancies between ASIC and ABRS records;
- advise on director ID obligations;
- prepare compliance frameworks ahead of the 1 July 2027 commencement date; and
- respond to regulatory issues arising from director identification requirements.
With the commencement date now confirmed, organisations should use the period before 1 July 2027 to ensure their corporate records are accurate, consistent and ready for implementation.
Contact Andrew Parlour, Jaqueline Wilson, Kate Littlewood, Ellen O'Neil or a member of the Corporate and
Commercial Advisory team
for further advice.