DIR-3 KYC FAQ

The Ministry of Corporate affairs (MCA) have also undertaken the process of KYC which means “Know your customer” of DIN holders as like all banks and financial institutions know their client’s identity by verifying their personal details like Mobile number, E-mail Id, PAN, Passport. In the process of DIR-3 KYC the details of Directors having Director Identification Number (DIN) are verified. For verification of details of Directors the f E-form DIR-3 KYC is filed with the Ministry of Corporate affairs. DIR-3 KYC of directors helps the ministry to know any non-compliance or fraud committed by them. KYC of DIN holders ensures Ministry that true and correct particulars are uploaded on the registry of MCA.

Table of contents

What is DIR-3 KYC form?

Director identification number (DIN) means an unique identification number which was provided to an individual who is become director or is an existing director of a company. DIN is obtained by the director by making an application in eForm DIR-3, but after MCA amendment, it is mandatory to all directors having DIN to submit KYC details in the Form DIR-3 KYC. The requirement of filing of Form DIR-3 KYC is mandatory from 31st March, 2018. Every individual having DIN or DPIN as on 31st March of Financial Year must submit the E-Form DIR-3 KYC to the Central Government on or before 30th September of immediate next Financial Year.

Who Needs to File e-Form DIR 3 KYC?

Every individual having DIN or DPIN as on 31st March of Financial Year must submit the E-Form DIR-3 KYC to the Ministry of Corporate Affairs after meet the following conditions:

  • Director Identification Number (DIN) was allotted to them by or on 31st March 2018
  • DIN is in approved status

What is the due date of filing DIR-3 KYC form and consequences of non-filing Form DIR-3 KYC?

As per the [Rule 11(2) Companies (Appointment and Qualification of Directors) Rules, 2014] When a Director fails to file e-form DIR-3 KYC within the due date, then DIN of such director shall be identified as ‘Deactivated due to non-filing of DIR-3 KYC’ by the Ministry. The Director whose DIN gets Deactivated can re-activate his DIN, only after file E-Form DIR-3 KYC along with a fee of Rs. 5000/-. If the Director files the -Form DIR-3 KYC within the due date then no such fee is required to be paid.

What are the Documents required to file Form DIR-3 KYC?

Following documents are required to be attaching with form DIR-3 KYC such as:

  • Self Attested PAN Card
  • Self Attested Address Proof (Passport/Aadhar Card/Voter Id/ Driving License/Bank Statement/Electricity bill which should not be older than 2 months)
  • Mobile Number
  • E-mail ID
  • Digital Signature Certificate is mandatory
  • Details of nationality

What is the Procedure of filing Form DIR-3 KYC?

The following procedure are to follow to file form DIR-3 KYC

Step 1: Download the form :First step is to download the DIR-3 KYC form from the MCA portal

Step 2: Fill in the DIN details: Directors required to fill the DIN in the KYC form, whose status is ‘Approved’

Step 3: Enter the Required Details in the DIR- 3 KYC Form

  • Name of the director, Father’s Name (As per the PAN)
  • Address of the director (Details of the Address should be verified with the PAN)
  • Nationality of the Director
  • Age Declaration (below the age of 18 years is not eligible)
  • Address Details with address proof

Step 4: PAN Verification: It is mandatory to authenticate the details with PAN database. Director must enter his PAN and then click on the ‘Verify income-tax PAN’ button. The Details are verified with the PAN database

Step 5: Provide Contact Details and OTP Verification: A director is required to give details of his mobile no. and email ID which is required to gets verified through an OTP by clicking on the ‘Generate OTP’

Step 6: Attached all the required documents: After successfully verification of the OTP the directors needs to attached all the required documents.

Step 7: Authentication of e-Form: After provide all the information the Directors needs to authenticated/ digitally signed the e-Form by a Chartered Accountant/Cost Accountant, or a Company Secretary.

Step 8: File Form DIR-3 KYC : After the successfully verification of the OTP it needs to be prescrutinized and after it requires to be submitted on the MCA portal.

What is e-form DIR-3 KYC web?

When the Director filed the E-form DIR-3 KYC in previous financial years and if there is no change in any personal details like name, address, mobile number, email ID, then he has to file the Form DIR-3 KYC web in every financial year.

Is it mandatory to file DIR 3 KYC in every Financial year?

As per the rule 12A of the Companies (Appointment and Qualification of Directors) Rules 2014 ” it is mandatory that every directors having DIN shall submit the e-Form DIR 3 KYC in every Financial year.

What is the fee to be pay for filing form DIR-3 KYC/DIR-3 KYC web?

If the Form DIR-3 KYC/DIR-3 KYC Web is filed within the due date then no fee is required.

But If the form is not filed within time then the fee of Rs. 5,000/- is required to pay.

Which form(s) to file for changes in particulars of individual DIN holder?

In case, there are any changes in the name, addressMobile number email address or any other details of the director, then it is required tofile Form DIR-6and after filing the same file form DIR-3KYC in compliance of the provisionsof the Act.

Is  disqualified directors are also required to file Form DIR-3 KYC. 

Every Director having DIN which is approved required to file Form DIR-3 KYC. It means the, disqualified directors are also required to file Form DIR-3 KYC.

Conclusion

As per rule 12A of the Companies (Appointment and Qualification of Directors) Rules 2014, “every director is required to file Form DIR-3KYC in every Financial year to the Central Government on or before 30th April of immediate next financial year. Directors are “officers in default” and in cases of non-compliance and fraud committed by the company, the Government has to impose penalty or imprisonment or both on each such officer of the company in default.

CategoryCompliance

CS Madhavi Singh Rajawat is a commerce graduate from IIS University, Jaipur and an associate member of Institute of Company Secretaries of India. She is also an LLB aspirant. Her interest lies in the field of corporate and securities laws, general corporate advisory matters and FEMA matters and compliances, litigation services, and also in NCLT related services. She has proficiency in the drafting of documents

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