DIR 3 KYC – Introduction
DIR 3 KYC forms notified vide the Companies (Appointment and Qualification of Directors) Fourth Amendment Rules, 2018 dated 5th July 2018.
Know your customer (or ‘KYC’ in short) is the process usually heard of in banks, which involves identification and verification of its clients. With the introduction of these KYC forms, KYC norms are extended to directors and companies as well. Accordingly, these forms are introduced by the MCA as part of updating its directors database.
Every individual holding a DIN (Directors Identification Number) will have to file the form.
Every Director who has been allotted DIN on or before 31st March, 2018 and whose DIN is in ‘Approved’ status, would be mandatorily required to file form DIR 3 KYC on or before 31st August, 2018 and the process will repeat henceforth every year.
Who is required to file DIR-3 KYC?
Every individual who has been allotted a Director Identification Number (DIN) as on 31st March of a financial year shall submit e-form DIR-3-KYC.
What is the Due Date for filing DIR 3 KYC?
Every individual who has been allotted a Director Identification Number (DIN) as on 31st March of a financial year shall submit e-form DIR-3-KYC to the Central Government on or before 30th April of immediate next financial year. However, due date for filing DIR-3 for DINs allotted on or before 31st March 2018 is 31st August 2018.
Example 1: – If DIN was allotted as on the date of 31st of March, 2019, then you are required to file DIR-3 KYC before 30th April, 2019.
Provided that every individual who has already been allotted a Director Identification Number (DIN) as at 31st March, 2018 shall submit E-form DIR-3 KYC on or before 31st August, 2018.
Example 2: – If DIN was allotted on or before 31st of March, 2018 then you are required to file DIR-3 KYC on or before 31st August, 2018.
What are the Documents required for filing the DIR 3 KYC form?
- DSC of Director, which has to be duly registered;
- Self attested PAN card;
- Self attested Aadhar card with updated Mobile number with UIDAI;
- Self attested Electricity Bill, Mobile Bill, Bank statement of Director (latest by 2 Months) of his/her present address;
- Latest Passport size photo;
- DIN declaration cum KYC.
What are Consequences of not filing DIR-3 KYC/ What happens if DIR-3 KYC is not filed?
In case, a director failed to intimate his particulars in E-Form DIR-3 KYC within stipulated time in accordance with Rule 12A, then the Director’s Identification Number (DIN) of directors shall be Deactivated and the MCA21 system will mark all approved DINs against which DIR 3 KYC form has not been filed as ‘Deactivated’. MCA21 system will mark all approved DINs (allotted on or before 31st March 2018) against which DIR-3 KYC form has not been filed as ‘Deactivated’with reason as ‘Non-filing of DIR-3 KYC’.
What type of DSC to use?
While filing DIR-3 KYC form, stakeholders use PAN based DSC in case of Indian Nationals i.e., 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?
The form be be downloaded 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 along with prescribed fees as prescribed under Companies (Registration Offices and Fees) Rules, 2014
Do Disqualified Directors or Directors not holding Directorship have to file DIR 3 KYC?
Filing of DIR-3 KYC would be mandatory for Disqualified Directors or Directors not holding Directorship for the whole of the previous year also.
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.
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