DIR-3 KYC-Mandatory for Directors holding DIN

[Chinki Singhal]

DIR-3 KYC - A step towards updating directors database. As a part of updating its directors database, The MCA has notified the format of E-form DIR-3 KYC under new Rule 12A, vide the ‘Companies (Appointment and Qualification of Directors) Fourth Amendment Rules, 2018', via notification dated July 05, 2018

Who is required to file DIR-3 KYC?

For Financial year 2018-19 - Any person who has been allotted “Director Identification Number (DIN/DPIN)” on or before 31st March 2018 and the status of such DIN is ‘Approved’, needs to file form DIR-3 KYC to update KYC details in the system on or before 31st August 2018.

For Financial year 2019-20 onwards - 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’.

Documents/Information required to file with DIR-3 KYC: -

In case of Indian National:-

1. Valid Mobile Number for OTP Verification.
2. Valid E-Mail ID for verification and correspondence.
3. Self Attested Copy of PAN Card.
4. Self Attested Copy of Voter ID Card if any.
5. Self Attested copy of Aadhaar Card.
6. Self-attested Permanent Address Proof (Utility Bills issued by respective government authorities not older than 2 months)
7. Self-attested Present Address Proof, if present address different from permanent address.
8. Passport, If have Valid Passport.

In case of Foreign National:-

1. Valid Mobile Number for OTP Verification(foreign based mob no).
2. Valid E-Mail ID for verification and correspondence.
3. Self-attested Copy of Passport
4. Self-attested Permanent Address Proof (Utility Bills issued by respective government authorities not older than 2 months);
5. Self-attested Present Address Proof, if present address different from permanent address.

Note: -

1. In respect of Foreign Nationals, applicant's name in DSC would be matched with his/her name on Passport & entered while filing the Form DIR-3 KYC;
2. In case of directors who are Foreign Nationals, identity & address proof shall be duly attested by Foreign Public Notary/ Apostillisation/ Consularization.
3. The E-form DIR-3 KYC shall be duly certified by Practicing Chartered Accountant, Practicing Company Secretary or Practicing Cost Accountant.
4. Mandatory to file for all Directors even for disqualified directors

Fees for filing E-form DIR – 3 KYC DIR-3 KYC under Rule 12A of Companies (Appointment and Qualification of Directors) Rules, 2014 -

1. Fee payable till the 30^th April of every financial year in respect of e‐form DIR‐3 KYC as at the 31st March of immediate previous year. Not Applicable and Fee payable in delayed cases is ₹ 5000/‐
2. For the current FY (2018-2019), no fee shall be charged by the govt till August 31, 2018 and delayed fee of ₹ 5000/- shall be charged on or after September 1, 2018.

Crux:-

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’ a fee of ₹ 5000 shall be payable.

Process of Filing Form DIR-3 KYC

1. The Board is required to seek information/documents from all the directors. Board can also advise directors who have resigned from the Board to comply with this new requirement of act
2. Avail DSC of applicant as prescribed by the authority, if director does not already have DSC
3. All the information, original documents along with form shall be sent to practicing professional for certification.
4. Practicing Professional needs to ensure the information, say personal credentials and documents to be attached and then, Form DIR-3 KYC would be filed.

Please note that For the current FY (2018-2019) the last date for filing the form is August 31, 2018.If not filed within the specified deadline a fee of ₹ 5000 will be charged by the govt as a fine while submitting the form.

Hope the information will assist you in your Professional endeavours. In case of any query / information, please do not hesitate to write back to us at [email protected].