An extension to apply for the director ID is likely due to the process involved and the large numbers of people yet to meet the deadline.

One million company directors have yet to apply for a director ID a week before the deadline to do so expires.

SMSF trustees and their advisers need to exercise meticulous attention to detail when looking to electronically approve documents for a fund.

Former directors will no longer be required to obtain a director identification number under draft changes released by the ATO.

The requirement for directors of an SMSF corporate trustee to obtain a director ID number can exist even if the super fund has been wound-up.