WHO HAS TO FILE e-FORM DIR-3 KYC?
As per the Ministry of Corporate Affair’s announcement, any director who has been allotted a DIN on or before 31st of March 2020 and whose DIN is in approved status, will have to submit his KYC details to the MCA. The purpose of filing form DIR-3 KYC is to ensure those correct particulars of an individual holding DIN is available with the Ministry of Corporate Affairs. It is mandatory compliance that needs to be fulfilled by all the directors.
The Due Date to File this form for FY -2019-20 is 30th September 2020.
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WHAT IS DIR-3 KYC?
As per the General circular issued by the Ministry of corporate Affairs dated 27.06.2019
Every person who has already filed DIR-3 KYC can complete the KYC through a simplified web-based verification form as the data will be prefilled as per their records with the Ministry.
HOW CAN ONE FILE DIR-3 KYC?
E-Form DIR-3 KYC can be submitted only when there is no change in the erstwhile filed details of the Director. The webform is a pre-filled form using the particulars filed in DIR KYC and can be filed by providing the OTP on the respective mobile and email id of the director.
If there is any change in the particulars filed with the Ministry the same needs to be updated by filing Form DIR- 6 once the form is approved one can file E-form DIR KYC.
WHAT IS DIRECTOR IDENTIFICATION NUMBER?
DIRECTOR IDENTIFICATION NUMBER is a unique identification number. This is a one-time process. Any person who intends to become a director in a Company has to obtain a Director Identification Number.
LIST OF DOCUMENTS REQUIRED:
The following documents are required for filing your DIR 3 -KYC form:
- Permanent Account Number (PAN)
- Voters Identity card/ Driving License
- Passport (mandatory if DIN holder is a foreign national)
- Aadhaar card
- Personal Mobile and
- Personal Email ID
- Digital Signature of director (applicant)
The above-mentioned documents need to be attested from Practicing Professionals like Chartered Accountant, Company Secretary or Cost Accountants. In the case of Foreign Nationals, the above-mentioned documents need to be apostilled/ attested by the prescribed authority.
WHAT HAPPENS IF KYC IS NOT FILED WITHIN THE DUE DATE SPECIFIED?
In case, the director who is supposed to file the e-Form DIR KYC does not file it by the end of the due date, the department will mark the DIN of such director as ‘Deactivated’ with the reason of ‘Non-filing of DIR-3 KYC’. The director’s data will not be prefilled in the e-forms required to be filed with ROC and can lead to non- compliance.
A penalty of Rs. 5000/- will be levied for late filing of DIR KYC.
For any queries and services related to this, you can visit our website of caonweb and contact our team of experts.
FAQs – Director KYC
Question:- Time period for validity of OTP?
Answer:- OTP sent on email and Mobile shall be valid for 15 minutes.
Question:-If foreign director resident in Indian can use Indian Mobile No.?
Answer:-Yes, if a foreign director is resident in India, can use Indian Mobile No.
Question:-What is the due date of DIR-3 KYC is for FY 2019-20?
Answer:-Due date of filing of DIR-3KYC is 30th Sep 2020.
Question:- What are the consequences of not filing DIR KYC?
Answer:- The DIN of the director shall be deactivated due to non- filing of KYC.
Question:-Whether DIRECTOR KYC is mandatory for Disqualified directors?
Answer:- Yes, this procedure is mandatory for Disqualified directors too.
Question:-What is the late fees of filing DIR-3KYC after the due date
Answer:-The late fees of filing DIR-3KYC is Rs. 5000.
Question:- Whether DIR KYC has to be filed by the person who had already filed the form last year?
Answer:- The director can file DIR KYC by providing Email and mobile OTP only in cases where there is no change in particulars.
Question: A person has Din but is not associated with any Company or LLP is he required to file DIR KYC?
Answer: YES, every person who has DIN needs to file DIR 3 KYC irrespective of the fact whether the person holds directorship or not in the Company or LLP.
Related Blog – How do I verify my Director’s KYC?