March 8, 2019

Every Director to submit there KYC every year with ROC in DIR 3 KYC FORM

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After allotment of Director Identification Number (“DIN”), there are possibilities of change in director’s particulars filed with Ministry of Corporate Affairs (“MCA”). Though there are provisions about intimation of such change, but persons usually fails to make such compliance.

Therefore, for the purpose of regular updation of Director’s particulars in database of registrar, MCA has introduced concept of KYC documents filing every year. For this purpose, directors are required to file DIR 3 KYC form every year.

Rule 12A read with Rule 11(2) and (3) of The Companies (Appointment and Qualification of Directors) Rules, 2014 governs provisions related to filing of DIR-3 KYC.

This article contains details of eform DIR-3 KYC in FAQs form as follows:

What is e-Form DIR-3 KYC?

E-Form DIR-3 KYC is an annual form required to be filed by directors for the purpose of updation of information with MCA.

Who is required to file e-Form DIR-3 KYC?

Transitional Provisions (F.Y. 2017-18): Every Individual holding DIN on 31st March, 2018 and status of such DIN is “Approved”, is required to file DIR 3 KYC. Subsequent period (F.Y. 2018-19): Every individual who has been allotted with DIN and who is holding DIN as on 31st March and status of such DIN is “Approved” is required to file this form.

What is the due date to file this form?

For F.Y. 2017-18- Due date to file the form was 15th September, 2018. However, on 21st September, MCA extended such date by further 15 days, i.e., 5th October, 2018 vide MCA notification. FY 2018-19 onwards: This form is required to be filed on or before 30th April of the immediate next financial year, i.e., directors holding DIN on 31st March, 2019 is required to be file this form by 30th April, 2019.

What is legal fee for filing this form?

F.Y. 2017-18- Fee of Rs. 500 was applicable on filing of DIR-3 KYC between 21st September, 2018 till 5th October, 2018 (both days inclusive). F.Y. 2018-19 onwards – No fee is payable for filing this form.

What are consequences of non-filing of e-Form DIR-3 KYC within stipulated time?

Non-filing of e-Form DIR-3 KYC results in deactivation of DIN. After due date, status of DIN starts appearing as “Deactivated” on MCA portal. Consequently, such director can’t sign any form for and on behalf of the company in which he is director and he also can’t form new company till the time such non-compliance continues.

Is there any late fee applicable for filing such before beyond due date?

Yes, in case of filing of DIR-3 KYC beyond due date, an additional fee of Rs 5,000 is required to pay.

What details are need to provide in e-Form DIR-3 KYC?

Information to be entered in DIR-3 KYC is: a) DIN b) Director’s Name- Director’s name is to be entered as per PAN database as MCA will crosscheck these details. c) Father’s Name- Father’s name should be same as mentioned in PAN. d) Nationality-Persons of foreign nation will select the nationality as given in passport e) Date of Birth f) Income Tax PAN- Same will be verified by clicking on “Verify Income Tax PAN” button g) Aadhar Number- Not Mandatory h) Voter’s Identity Card Number- Not Mandatory i) Passport Number*- Not Mandatory j) Personal Mobile Number#- Same will be verify through One Time Password (“OTP”) k) Personal Email ID#- Same will be verify through One Time Password (“OTP”) l) Permanent residential Address m) Present residential Address- It is required to be enter if it is different from permanent residential address It is mandatory to provide either Aadhar Number or Voter’s ID number or Passport Number Different mobile number and email Id is required for every DIN.

What all documents are required to attach while filing form e-Form DIR-3 KYC?

Following documents are required to attach with e-Form DIR-3 KYC a) Proof of permanent address. Either of following documents may serve this purpose, if they are in name of applicant:Passport Voter ID Card Ration Card Driving Licence Electricity Bill Telephone Bill Aadhar Card b) PAN Card c) Aadhar Card/Passport/Voter ID Card

What are other requirements that has to be kept in mind while filing this form?

Attachments to the form are to be certified by a practicing chartered accountant/company secretary/cost accountant.

Does attached form is also required to be counter signed by a practicing Chartered Accountant?

Yes, e-Form DIR-3 KYC is required to be digitally signed by a practicing Chartered Accountant/Cost Accountant/Company Secretary.

Does a dis-qualified director required to file DIR-3 KYC?

Every DIN holder is required to file DIR-3 KYC where status of DIN is “Approved” as on 31st March. Disqualification is not a criteria to decide filing. Accordingly, a disqualified director is also required to file DIR-3 KYC.

If incorrect information is furnished while filing DIR-3 KYC, is option of revision of multiple filing available?

Option of multiple filing or revision is not available for DIR-3 KYC.

If a director is holding more than 1 DIN, then does DIR-3 KYC is required to be filed for every DIN?

Companies Act, 2013 does not allow holding of multiple DINs. Accordingly, any director holding multiple DINs will be first required to hold oldest DIN and surrender all latest DINs through filing of DIR-5. Subsequently, DIR-3 KYC can be filed for retained DIN.

What is the process to file DIR-3 KYC in brief?

a. Download the form DIR-3 KYC from MCA Portalb. Enter DIN of Director and press “Pre-fill” button to enter basic informationc. Enter above discussed informationd. Attached discussed documentse. Get e-form certified from practicing professionalf. Upload form on MCA portal. Post uploading, system will generate a SRN which can be used for future correspondence.e. Email for approval of Form will be received on registered mail id.

Read more about all Compliance for companies registered under ROC

DISCLAIMER: The views expressed are strictly of the author and VJM & Associates LLP. The contents of this article are solely for informational purpose. It does not constitute professional advice or recommendation of firm. Neither the author nor firm and its affiliates accepts any liabilities for any loss or damage of any kind arising out of any information in this article nor for any actions taken in reliance thereon.

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