DIR – 3 KYC (KYC FOR DIRECTORS) 2020-07-11T18:58:23+05:30

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    DIR – 3 KYC FOR DIRECTORS 

    KYC (Know your Customer) is a method for identifying and verifying the identity of the clients in a business. The central government has made it mandatory KYC for Directors as well. Similar to bank KYC, the government wants to know the Directors from KYC for directors and expect them to submit a yearly intimation about their profile through KYC for directors and specify any changes in the details. It is a new form introduced by the MCA (Ministry of Corporate Affairs).

    DIN (Director Identification Number) which is 8 digit number for directors and it is compulsory to be obtained by each and every individual who intends to become a director in a company.

    Every director/designated partner holding DIN as on 31st March of the financial year has to file an e-form DIR-3-KYC for directors on or before 30th June of next immediate financial year.

    CONSEQUENCES OF NON-FILING OF DIR-3 KYC  (KYC FOR DIRECTORS)

    Director/ Designated Partner with deactivated DIN cannot incorporate a new Company or LLP in future
    The MCA (Ministry of Corporate Affairs) will deactivate the DIN of director/ designated partner for non-filing of DIR-3 KYC
    The Company / LLP in which you are Director / Designated Partner will not be able to file any Forms like Change in Directors, ROC Annual Returns etc which may result in striking off of the Company/LLP
    The Director/Partner will be at risk during fund raising, loan proposals and future prospectus of any Company/LLP as it will create a negative impression
    The De-activated DIN shall be re-activated only after penalty fee of Rs. 5,000 for each Director

    PROCEDURE FOR DIR – 3 KYC (KYC FOR DIRECTORS)

    DOCUMENTS REQUIRED FOR DIR – 3 KYC (KYC FOR DIRECTORS)

    • Copy of Pan card
    • Copy of Adhaar card
    • Copy of Passport (Mandatory if having)
    • Proof of permanent address (any one ) :
    1.  Electricity bill / Telephone Bill
    2.  Driving License / Election Card / Adhaar Card / Ration Card
    • Digital Signature of the Director
    • Unique Mobile Number and Email id

    GOT QUESTIONS? GET A FREE CONSULTATION

    FAQ

    For Financial year 2019-20 – Every Director who has been allotted DIN on or before the end of the financial year, and whose DIN status is ‘Approved’, would be mandatorily required to file form DIR-3 KYC before 30th April of the immediately next financial year.

    After expiry of the respective due dates, system will mark all non-compliant DINs against which DIR-3 KYC form has not been filed as ‘Deactivated due to non-filing of DIR-3 KYC’

    Name (as per PAN database), Father’s Name (as per PAN database), “Date of Birth (DoB)” (as per PAN database), PAN Number (mandatory for citizens of India), Personal Mobile number and Personal Email Address and Permanent/ Present address.   Further, Aadhaar is mandatory, if it is assigned. If not, then Voter ID or Passport or Driving Licence shall be attached. Accordingly, copy of any one of the above selected information is to be attached.

    Yes. It is mandatory to enter your personal mobile number and personal email ID in the form DIR-3 KYC and the same has to be verified by an OTP process. Further, the mobile number and email ID must be unique such that it is not already linked with some other person in the DIN holders’ database.

    Send OTP button will be enabled only after successful Pre-scrutiny of the form. After successful Pre-scrutiny, user has to click on ‘Send OTP’ button.

    The DIN holder and a professional (CA/CS/CMA) certifying the form are the two signatories in form DIR-3 KYC.Please note that in case of Citizens of India, the PAN mentioned in the DSC is verified with the PAN mentioned in the form.In case of foreign nationals, the name in the DSC affixed should match with the name entered in the form. DSCs affixed on the form should be duly registered on the MCA portal.

    Yes. Any person who has been allotted DIN and where the status of such DIN is ‘Approved’, is required to file form DIR-3 KYC. Hence, disqualified directors are also required to file form DIR-3 KYC

    Form DIR-3 KYC, if filed within the due date of the respective financial year, no fee is payable. However, if filed after the due date, for DIN status ‘Deactivated due to non-filing of DIR-3 KYC’a fee of Rs.500(Rupees Five Hundred Only) shall be payable from 21st September to 05th October 2018(Both days inclusive). From 06th October onwards a Fee of Rs.5000(Rupees Five Thousand Only) becomes payable.

    Form DIR-3 KYC can be filed for status ‘Deactivated due to non-filing of DIR-3 KYC ’ on payment of fee as above.

    Yes. All information as entered in the form DIR-3 KYC shall be updated in the DIN holders’ database.

    Please refer to Instructions kit of DIR-3 KYC

    System will not allow multiple filing of form DIR-3 KYC for an applicant. In case KYC is already filed for a DIN, and such DIN is entered again, system throws an error that the form is already filed.

    In case the DIN holder is a resident of India, the address must be an address in India and mobile number must be an Indian mobile number.

    In case DIN holder is non-resident, foreign address and foreign number shall only be allowed.

    Send OTP button remains disabled till successful pre-scrutiny of the form. After successful pre-scrutiny, the form must be saved and only after saving the form, the ‘Send OTP’ button gets enabled. Further, please note that, once OTP is successfully sent to the valid mobile number and email ID entered in the form, ‘Send OTP’ button gets disabled. OTP is valid for 30 minutes

    You can check the Spam folder in your mailbox for the OTP received.

    In cases the director who is supposed to file the e-Form does not file it by the 31st of August 2018 on MCA 21 portal, the department will mark the DIN of such director as ‘Deactivated’ with the reason shown as ‘Non-filing of DIR-3 KYC’.

    If the director wishes to re-activate his DIN in future by filing the missed out E-Form DIR-3 KYC, he can do so after paying a late fee of 5,000 rupees. This fee would be payable on or after September 1, 2018.

    No. Every DIN holder whose DIN has been ‘Deactivated due to Non-filing of DIR-3 KYC’ has to necessarily file DIR-3 KYC first along with applicable fee. Once the form (DIR-3 KYC) is filed, it is approved on STP basis. On approval, the system will automatically ‘reactivate’ the DIN. Non-compliant DIN’s status would remain ‘Deactivated due to Non-filing of DIR-3 KYC’.

    As per above rules, all cases of DIR-3 KYC filed from 6th October 2018 onwards will attract a fee of Rs.5000.

    In case you have multiple DINs then you need to retain the oldest DIN and surrender all the latest DINs by filing DIR -5 eform. Please download the latest form DIR-5 from portal and try again.

    You are required to file DIR-5 first indicating therein all the DINs that you need to surrender (latest ones) and retain the oldest DIN. Please download the latest form DIR-5 from portal and try again

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