SMSF Corporate Trustee DIN Obligations
- Arnold Shields
- Mar 15, 2023
- 2 min read
Updated: May 16
If you’re a director of a Self-Managed Superannuation Fund (SMSF) with a corporate trustee, you are now legally required to obtain a Director Identification Number (DIN). This requirement forms part of a broader government initiative to strengthen corporate governance in Australia.
What is a DIN?
A Director Identification Number (DIN) is a unique and permanent identifier issued to a director. It remains with them for life, no matter how many companies or roles they hold. This applies to all company directors in Australia, including those of SMSF corporate trustees.
For new directors (appointed after 29 March 2018): You must apply for a DIN before appointment.
For existing directors (appointed before 29 March 2018): The deadline to apply was 28 September 2023.
Why Does the DIN Matter?
The introduction of the DIN system is designed to:
Combat illegal phoenix activity and director identity fraud.
Improve transparency and accountability within Australian businesses.
Enable regulators, stakeholders, and investors to track a director’s history of appointments and resignations.
For the SMSF sector, it brings an added layer of integrity and simplifies compliance oversight.
What Happens if You Don’t Get a DIN?
Failure to apply for a DIN can lead to significant civil or criminal penalties, including fines issued by ASIC. Directors must act now to ensure they are fully compliant with the Corporations Act 2001.
How to Apply for a DIN
The application process is online, quick, and free. You’ll need:
Your myGovID (standard or strong identity strength)
Personal details such as full legal name, date of birth, and contact information
Documents to verify your identity (e.g., bank details, ATO notice, super account, or dividend statement)
Steps:
Set up a myGovID.
Visit the Australian Business Registry Services (ABRS) website.
Complete the online DIN application form.
Once approved, your DIN will be issued instantly and emailed to you.
Do You Need Help?
At Dolman Bateman, we specialise in helping SMSF clients navigate their compliance responsibilities. If you're unsure whether you or your fellow directors need a DIN, or need help getting one, we're here to assist.
Disclaimer:
The information provided in this article is general in nature and does not constitute personal financial, legal or tax advice. While every effort has been made to ensure the accuracy of this content at the time of publication, tax laws and regulations may change, and individual circumstances vary. Dolman Bateman accepts no responsibility or liability for any loss or damage incurred as a result of acting on or relying upon any of the information contained herein. You should seek professional advice tailored to your specific situation before making any financial or tax decision.
