DIR 3 KYC

posted in: Companies Act, Compliance | 2

DIR 3 KYC Due Date Extended : Penalty of Rs 5,000 applicable if DIR 3 KYC filed after October 6, 2018.

In a relief for the directors who are yet to complete their DIR 3 KYC. The Ministry of Corporate Affairs allowed another 15 days to complete the process. Such directors can do so after paying a reduced fee of Rs 500/-.

However, For those who file the e-form DIR-3 KYC between September 21 to October 5, the fee would be Rs 500/-. And from October 6, the fee would be Rs 5,000/-, MCA issued a statement.

Post Last Modified on: 2018-09-21 13:17:59

DIR 3 KYC – Introduction

DIDIR 3 KYCR 3 KYC forms notified vide  the Companies (Appointment and Qualification of Directors) Fourth Amendment Rules, 2018 dated 5th July 2018.

KYC is short for Know Your Customer and is usually heard of in banks. It involves identification and verification of its stakeholders/clients. MCA has now introduced KYC forms. As a result, KYC norms are now applicable to directors and companies as well. MCA has introduced these forms for updating its directors database. This is an annual compliance and these details have to be filed every year.

Every individual holding a DIN (Directors Identification Number) will have to file the form.

 

Directors having a valid DIN on or before 31st March, 2018 have to file form DIR 3 KYC. The due date for filing is 31st August, 2018. If the form is not filed before the due date, penalty of Rs. 5,000/- is applicable.The form requires the signature of a CA/CS/CMA.

For FY18-19

File DIR 3 KYC at Rs. 899/-

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FAQs

Who needs to file DIR-3 KYC?

Every individual holding a DIN (Directors Identification Number) has to file the form. Any one holding a DIN before 31st March of a year has to file the DIR 3 KYC before 30th April.

What is the Due Date for filing DIR 3 KYC?

The due date for filing DIR 3 KYC is 30th April. However, due date for filing DIR-3 KYC for DINs allotted on or before 31st March 2018 is 31st August 2018.

Example 1: – If DIN allotment is before 31st of March, 2019, then file DIR-3 KYC before 30th April, 2019.

Example 2: – In case DIN allotment is on or before 31st of March, 2018 then file DIR-3 KYC on or before 31st August, 2018.

What are the Documents required for filing the DIR 3 KYC form?

  1. DSC of Director, which has to be duly registered;
  2. PAN card;
  3. Aadhar card (with updated Mobile number with UIDAI); (Mandatory for Indian Nationals)
  4. Passport (Compulsory if the director has it);
  5. Electricity Bill, Mobile Bill, Bank statement of Director (latest by 2 Months) of his/her present address;
  6. Latest Passport size photo;

Further, all documents should be self attested by the director.

What are Consequences of not filing DIR-3 KYC/ What happens if DIR-3 KYC is not filed?

If the return is not filed, the DIN of the director will be deactivated. That is, from the ‘Approved’ status in MCA it will mark it as ‘Deactivated’.

What type of DSC to use?

While filing KYC form, stakeholders should use PAN based DSCs. In case of Indian Nationals DSC should contain PAN as specified in the form. In respect of foreign nationals, applicant’s name in DSC would be matched with his/her name entered while filing the form(DIR-3 KYC). In case the PAN /Name in DSC does not match with PAN/Name entered in the form, they would be required to get a DSC with PAN/Name as specified in the form.

Where can the forms be downloaded? Download form DIR 3 KYC –

You can download the PDF forms form here.

Can the De-activated DINs be re-activated?

The de-activated DINs can be Re-activated only after filing of E-form DIR-3 KYC. Additional fees will be applicable in this case.

Are Disqualified Directors required to file DIR 3 KYC? Are Directors not holding Directorship required to file DIR 3 KYC?

Filing of DIR-3 KYC is mandatory for all individuals holding a DIN. It is also mandatory for Disqualified Directors or Directors not holding any Directorship.

Who is responsible to file the DIR 3 KYC form?

It is the responsibility of the individual, and not the responsibility of the company, to ensure that the form is filed on a timely basis.

Do we have to file DIR 6 before DIR 3 KYC?

Yes. File DIR 6 before filing DIR 3 KYC. The address needs to be upto date for completing the KYC process.

Does the address have to be updated before filing DIR 3 KYC?

Yes. As mentioned above, file DIR 6 before filing the KYC form. The address proofs provided in the KYC form should match with the address in the MCA portal.

How much is the MCA fees for filing DIR 3 KYC?

Rs. 0/-. The MCA does not charge any fee for filing of DIR 3 KYC.

What to do in case of Duplicate/Multiple DINs?

In respect of an individual who is in possession of Duplicate/Multiple DINs, he can retain the oldest DIN only. DINs obtained later have to be surrendered.

Is it possible to surrender a DIN or Deactivate a DIN?

For an individual with a single DIN, if it is/was once associated with any LLP or Company, it is not eligible for surrender. However, if the DIN wasn’t associated, then it is possible to surrender it.

How to surrender or deactivate a DIN?

File form DIR-5 for surrender of DIN. On approval of form DIR-5, all existing/erstwhile associations of the surrendered DIN shall be automatically mapped to the retained DIN.

We can be easily reached at communications@goforfiling.com incase you have any questions about the article.

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2 Responses

  1. PUJA AGARWAL

    Sir I filled my DIR – 3 KYC AS PER MY AADDAR CARD AS PER MCA DATA MY ADDRESS DATA IS DIFFERENT FROM MY AADHAR DATA. SO , RECOMMEND ME HOW CAN I RECTIFY THIS.

    THANKING U

    • admin

      Its not necessary to match the address of the Aadhaar Card with the address mentioned in the MCA. The only thing to do is to ensure that the supportings attached while filing DIR 3 KYC match with the address on MCA.
      Note that these include your bank statements and passport among others.

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