A quick guide on Director KYC compliance, DIR-3 KYC form to update the KYC details in the MCA database. Complete the process and due date of filing the DIR-3 KYC form.
Directors of Indian companies, it’s that time of the year again! The deadline for filing Form DIR-3 KYC is approaching swiftly. To maintain compliance with the Ministry of Corporate Affairs (MCA) regulations, it is crucial to submit this form accurately and within the stipulated timeframe. In this article, we will provide you with all the necessary information and steps to ensure you meet the due date for Form DIR-3 KYC on 30th September 2023.
DIR-3 KYC: Director Annual KYC Filing
As per the Ministry of Corporate Affairs, it is mandatory for all Directors to file DIR-3 KYC filing before 30 September 2023.
Easily file your Director KYC online. DIR-3 eKYC Filing Starts from Rs. 999/-
File till 30th September 2023. Penalty of Rs.5000 if filed after 30th September 2023.
Online Process | Fast Documentation & Filing | Free Advice on DIR-3 KYC Compliance
What is Director KYC Compliance?
With an objective to clean and up-to-date directors database, the Ministry of Corporate Affairs (MCA) is conducting KYC of all directors. KYC would be done annually through a new form DIR-3 KYC.
It is mandatory for all Directors to file their KYC form DIR-3 KYC (e-KYC) annually. The due date for this year (2022-23) is 30th Sep 2023.
DIR 3 KYC Due Date for 2023
The due date (last date) for filing the DIR-3 KYC form for 2023 is 30th September 2023. This is the last and final date for filing the Director’s annual KYC compliance.
Who is required to file the DIR-3 KYC form?
Every person who has been allotted and holds a DIN (Director Identification Number) on or before 31st March 2023. If, the status of such DIN is ‘Approved’, needs to file from DIR-3 KYC to update KYC details in the MCA system on or before 30th September 2023.
Consequences of Non-filing of DIR-3 KYC
Penalty:
On Non-filing of DIR-3 KYC (eKYC) by 30.09.2023 (for 2023), the Director’s DIN will be marked as “Deactivated” and to activate the DIN, every Director will be required to pay Rs. 5,000 as penalty.
What are the documents required for the DIR-3 KYC form
Here is the list of documents and information required for filing the DIR-3 KYC form:
PAN of Director
Proof of permanent address (Latest Bank Statement or Latest Mobile or Electricity Bill)
Copy of Aadhaar Card (Mandatory for Indian Director)
Copy of passport (if Available)
Unique Mobile No (will need OTP for Verification)
Unique Email Address (will need OTP for Verification)
Digital Signature of Director
Important points on Director KYC (DIR-3 KYC)
It is mandatory even for Disqualified Directors.
Aadhar is mandatory for Indian citizens.
Passport is mandatory for Foreign citizens.
Attestation of documents by practicing professionals is mandatory.
Personal Mobile Number and e-mail ID should not be linked to any other director or certifying professional.
A personal e-mail ID should not be an official e-mail ID. It should be personal like Gmail, Yahoo, etc.
In case of a change in address from the DIN records, first file form DIR-6 and then file form DIR-3-KYC.
All documents should be self-attested by the Director.
Certificate from each Director for engaging the professional to certify the form.
Conclusion:
Meeting the due date for Form DIR-3 KYC is crucial for directors of Indian companies to remain compliant with MCA regulations. Failure to do so can result in penalties and DIN deactivation. Make sure to complete the filing accurately and in a timely manner to avoid any complications. If you have any doubts or face challenges during the filing process, seek professional guidance to ensure a smooth submission. Don’t delay – mark your calendars and file your Form DIR-3 KYC by 30th September 2023.
FAQs On DIR-3 KYC
1. Who is required to file the Director KYC form (DIR-3 KYC)?
A director who has been allotted DIN on or before the end of the financial year is mandatorily required to comply with KYC compliance. He has to file form DIR-3 KYC before 30th September of the immediate next financial year.
2. What is DIR 3 web-based service?
Any DIN holder who has already submitted eForm DIR-3 KYC in any of the previous financial years and who does not require an update in any of his KYC details as submitted may perform his annual KYC by accessing DIR-3 KYC web service. No fee is payable up to the due date of each financial year. After the due date, a fee of Rs.5000 shall be payable.
3. I am a disqualified director, Am I required to file form DIR-3 KYC?
Yes. Any person who has been allotted a 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.
4. What is the fee for form DIR-3 KYC?
Form DIR-3 KYC, if filed within the due date of the respective financial year, no fee is payable. If the DIN holder does not file his annual KYC within the due date of each financial year, such DIN shall be marked as ‘Deactivated due to non-filing of DIR-3 KYC’ and shall remain in such Deactivated status until KYC is done with a fee of Rs.5000.
5. I am a foreign director in Indian Company. I don’t hold an Aadhar Card. Do I still need to complete the DIR 3 KYC Procedure?
Yes. If you are holding a DIN, it is mandatory that you file your DIR3 KYC. The list of documents will be the same as above (except Aadhar).
6. What are the consequences if the form is not filed on or before the due date?
If the same is filed after the due date, a penalty of Rs. 5,000/- shall be levied by the Ministry. This is a mandatory penalty and can not be avoided.
The DIN shall be deactivated. This means that you are disqualified to act as a director in any company.
7. The status of my DIN is “Deactivated.” Can I submit the DIR-3 KYC form?
On payment of the aforementioned amount, Form DIR-3 KYC may be filed for status “Deactivated owing to non-filing of DIR-3 KYC.”