DIR-3 KYC or Director KYC Form
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In today's digital age, fulfilling the legal requirements for registering and operating a startup or company involves various procedures and form filings with the Ministry of Corporate Affairs (MCA). One such important procedure is obtaining a Director Identification Number (DIN).
The DIN is a unique identification number assigned to individuals who wish to become directors of a company or who are already serving as directors. Previously, filling out the DIR-3 application was sufficient to obtain the DIN. However, the MCA has recently updated its registration process, requiring all directors with DIN registration numbers to submit their KYC (Know Your Customer) details annually in the DIR KYC form.
Who Needs to File the KYC Form?
According to recent updates by the Ministry of Corporate Affairs, any director or individual who received a DIN number by March 31, 2018, must mandatorily submit their KYC details to the MCA. This requirement also applies to directors whose applications have been disqualified.
Checkpoints for Filing the KYC DIR Form
When filling out the e-form for the KYC DIR, directors must provide their email address and mobile number for verification purposes through a one-time password (OTP). Additionally, directors should use their own digital signature during the form-filling process. To ensure the accuracy of the provided information, the form must be certified by a Chartered Accountant or Company Secretary.
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Penalties for Late Filing
Documents Required for Filing the KYC Form
When filing the KYC form, directors need to provide the following documents:
- Nationality and citizenship details, such as date of birth, gender, etc.
- Permanent Account Number (PAN)
- Voter card
- Driving license
- Aadhar card
- Personal mobile number and email address
- Permanent residential address
In addition to the above documents, the following may also be required:
- Digital signature of the applicant
- Declaration provided by the applicant
- Attested documents provided by practicing professionals, such as Chartered Accountants or Company Secretaries
Fees for Filing the DIR-3 KYC Form
No fees are applicable for filing the DIR-3 KYC form if it is submitted before the due date. However, if the due date is exceeded, a penalty of INR 5,000 must be paid.
Guide to Filing the DIR-3 KYC Form
To begin the process, download the KYC form from the Ministry of Corporate Affairs website. Once downloaded, directors with a DIN number must submit the form. In case of a deactivated account, the form can be filled by paying the penalty.
Enter the required details in the form:
- Enter the name and other credentials exactly as they appear on the PAN card. The address provided will be verified against the PAN.
- Declare your nationality, and if you are an NRI director, provide your passport details.
- The person filing the form must be at least 18 years old.
- Provide your permanent residential address, and if your present address differs, submit that as well.
- Verify your PAN by entering the PAN number and clicking on the ‘Verify Income-Tax PAN’ button.
- Enter your personal mobile number and email address, which will be verified through an OTP.
- Attach the required documents before submitting the form, including permanent and present address proofs, Aadhar card copy, and passport copy.
- The e-form must be certified by a Chartered Accountant or Company Secretary, with their digital signature provided.
The DIR-3 KYC form is an essential legal requirement for individuals wishing to register as directors of a company. Additionally, filing the KYC form annually is mandatory. For any further legal or regulatory inquiries, feel free to reach out to us for professional assistance. We, at Instafiling, are dedicated to providing the best legal support for your requirements as a director.
Directors are required to file this form annually to ensure that their KYC details are accurate and up to date. The form is applicable for all directors who have been allotted a Director Identification Number (DIN) on or before 31st March of the financial year.
DIR-3 is an application filed to obtain Director Identification Number (DIN) while DIR-3 KYC is to be filed annually by every director who already has DIN to ensure the correctness of the details.
Yes, every director who has been allotted a Director Identification Number (DIN) on or before 31st March of the financial year needs to file DIR-3 KYC every year on or before 30th September.
The main purpose of KYC is to keep the DIN active and ensure that the KYC details of the Directors are accurate and up to date.
Yes, Directors KYC is mandatory to be filed every year on or before 30th September to ensure that the DIN remains active and the KYC details are accurate.
The two types of KYC’s are form based KYC and Web based KYC.
- Form based KYC: If the KYC for Director is being filed for the first time or in case of any change in detail of the director, form based KYC is done.
- Web based KYC: In case of no change in details and for subsequent years, web based KYC is filed for the Directors which involves verification through One Time Password (OTP) on email and mobile number of Director.
Every Director who has been allotted a Director Identification Number (DIN) on or before 31st March of the financial year needs to file DIR-3 KYC every year on or before 30th September.
Yes, for web based KYC, DSC of the Director is not required. However, for form based KYC, affixing DSC of the applicant is mandatory.
There is no cost for filing DIR-3 KYC. However, if the KYC is not completed within the due date then a penalty of INR 5,000 is levied for reactivation of DIN.
To file DIR 3 KYC, login to the V-3 portal of MCA. Then click on Form based KYC or web based KYC under DIN related filings. Fill in the required details and submit the form.
The due date for DIR 3 KYC is 30th September every year.
Aadhar card serves as the proof of residence for DIR-3 or DIR-3 KYC.
No, there is no relaxation for DIR 3 KYC. Every director having Director Identification Number (DIN) needs to file DIR-3 KYC every year.
Form DIR-3 i.e application for allotment of DIN for appointment as Director in existing company shall be certified by the authorized signatory or the Director of the company in which the appointment of the applicant is being proposed as a Director.
To proceed with KYC; below mentioned checklist should be considered.
- Ensure that the director has a valid Director Identification Number (DIN) allotted on or before 31st March of the financial year.
- Collect and verify the following personal details of the director such as Full name, date of birth, gender, nationality, contact details, permanent and present residential address.
- Collect PAN card, Aadhar Card, Passport to verify the above details
- Arrange for the director’s digital signature for authentication purposes in case of form based KYC.
- Review the completed DIR-3 KYC form to ensure all required fields are filled correctly and all necessary documents are attached.
The main objective behind filing Form DIR-3 KYC is to keep the DIN active and ensure that the KYC details of the Directors are accurate and up to date.
Any person who is proposed to be appointed as a Director in any existing company and who does not have Director Identification Number (DIN) is required to file Form DIR-3 i.e application for allotment of DIN for appointment as Director in existing company.
The following documents are required to file DIR 3 KYC form:
- Aadhar Card
- PAN Card
- Passport (if the person is having)
- Driving license (if the person is having)
- Proof of present residential address if the same is different from permanent address.
A penalty of INR 5,000 (Five Thousand) is levied for not filing DIR-3 KYC within the due date.
Yes, it is mandatory to e form DIR-3 KYC every year even if the same was filed last year.
If DIR-3 KYC is not filed within the due date then a penalty of INR 5,000 (Five Thousand) is levied.
DSC is mandatory for form based KYC but the same is not required in case of web based KYC.
There is no government fee involved if DIR-3 KYC is filed within the due date. However, a penalty of INR 5,000 is levied in case it is not filed within due date.
Yes, an individual who has acquired DIN but not appointed as director in any company needs to file Form DIR-3 KYC.
DIR 3 KYC is filed if the KYC is being done for the first time or in case of any change in detail of the director while DIR 3 KYC Web is filed for KYC in subsequent years.
No, a disqualified director cannot file DIR-3 KYC. If a director has been disqualified, they should complete the necessary steps to rectify the disqualification and obtain relief or clearance from the disqualification before attempting to file the DIR-3 KYC form or resume directorship in any company.