DIR-3 KYC
DIR-3 KYC is a form that must be filed annually with the Ministry of Corporate Affairs (MCA) in India to verify the identity and address of directors holding a Director Identification Number (DIN). This process ensures that the information in the MCA database is accurate and up-to-date. The requirement was introduced to maintain transparency and prevent fraudulent activities by ensuring that only authentic individuals hold positions as directors.
Benefits of Filing DIR-3 KYC:
Compliance: Ensures that the director remains compliant with MCA regulations and avoids penalties.
Accurate Records: Keeps the MCA’s records up to date with the latest personal and contact information of directors.
Prevent Fraud: Verifies the identity of directors and ensures that inactive or fraudulent DINs are deactivated.
DIR-3 KYC Services
DIR-3 KYC Services are professional services offered by corporate consultants, Chartered Accountants (CAs), Company Secretaries (CSs), legal firms, and online platforms to assist directors in complying with the DIR-3 KYC filing requirements in India. These services help directors ensure that their personal and contact information is accurately submitted to the Ministry of Corporate Affairs (MCA) within the required time frame to avoid penalties and maintain the active status of their Director Identification Number (DIN).
Key Points of DIR-3 KYC:
Applicability: Every individual who has been allotted a Director Identification Number (DIN) and whose DIN is active must file the DIR-3 KYC form annually. It applies to all directors of Indian companies.
Information Required:
Personal Details: Name, father’s name, date of birth, PAN (Permanent Account Number), Aadhar number (for Indian nationals), and passport number (for foreign nationals).
Address: Both permanent and current address information.
Contact Information: Personal mobile number and email address, which will be verified using OTP (One-Time Password) during the form submission process.
Digital Signature: The form must be signed using a Digital Signature Certificate (DSC).
Certification: A practicing Chartered Accountant (CA), Company Secretary (CS), or Cost Accountant must certify the KYC form.
Filing Deadline:
The DIR-3 KYC form must be filed annually before September 30th of each year.
Consequences of Non-Filing:
If the director does not file the DIR-3 KYC by the due date, the DIN will be marked as “Deactivated due to non-filing of DIR-3 KYC.” The director will not be able to file any documents with the MCA or be appointed in any company until the KYC is completed.
Re-activation of the DIN can be done by filing the DIR-3 KYC form along with a late fee of ₹5,000.
KYC for Directors with Multiple DINs:
If a person holds multiple DINs, KYC must be filed for each active DIN separately.
Types of Filing:
DIR-3 KYC (Form): This is required to be filed if the director is filing for the first time or if there are changes in details like mobile number or email address.
DIR-3 KYC Web: If the director has already filed the form in a previous year and there are no changes in personal details, the director can complete KYC online through a simplified web-based process.
Steps to File DIR-3 KYC:
Preparation: Collect all the necessary information, such as identity proofs (PAN, Aadhar, Passport), address details, and ensure your mobile and email are active for OTP verification.
Download Form: Visit the MCA website to download the latest DIR-3 KYC form.
Filling the Form: Complete the form with accurate personal, contact, and address information.
Digital Signature: Affix your Digital Signature Certificate (DSC) to the form.
Certification: Get the form certified by a practicing CA, CS, or Cost Accountant.
Upload: Submit the form online through the MCA portal.