DIR-3 – KYC | eform to Update Director DIN eKYC

As MCA is updating and cleaning it records on daily basis by wiping and striking out defaulting or shell companies, the newest step MCA has taken in this journey is to update its registry records by mandating the KYC of all Directors.

MCA has recently notified Companies(Appointment and Qualification of Directors) Fourth Amendment Rules, 2018 dated 5th July 2018 and mandate to conduct KYC verification of all directors who got their DIN as and before 31st March 2018 by filing DIR-3 KYC form online.

What is DIR-3 KYC form?

DIR-3 KYC is an e-form which now needs to be filed by every director annually as a part of KYC updating drive of Ministry of corporate affairs.

DIR-3 KYC is different from DIR-3 form which previously used in company registration process to get Director Identification number (DIN). Now, DIR-3 is used to appoint any additional director (not having DIN) in any existing company only.

Who has to file DIR-3 KYC Now?

As per MCA notification, all the directors who got their DIN by or on 31st March 2018 and the same are in approved status needs to file DIR-3 KYC form before 31st August 2018.

Is DIR-3 KYC is mandatory for Disqualified Directors Also?

Yes, MCA has mentioned in its notification that, DIR-3 KYC is mandatory for Disqualified Directors also whose DIN got deactivated due to any reason.

What main points need to take care while filing DIR-3 KYC e-form?

• Director should mandatorily use Unique personal Mobile Number and Personal Email ID and the same would be duly verified by One Time Password (OTP).
• The form should be filed by every Director using his own Digital Signature Certificates (DSC).
• The form DIR-3 KYC should be duly certified by a practicing professional (CA/CS/CMA).

DIR-3 KYC for Foreign National Director

In Case, Director having DIN is foreign national and not having Pan Card with them, then Director name in DSC needs to be matched with his/her name entered while filing the form DIR-3 KYC and,
In case the PAN /Name in DSC does not match with PAN/Name entered in the form, then the director having DIN would be required to update the DSC with PAN/Name as specified in the form.

What happens if DIR-3 KYC not filed before 31st August 2018?

As discussed above, DIR-3 KYC needs to be filed before 31st August 2018, if the required form is not filed till due date the MCA21 system will mark all approved DINs allotted on or before 31st March 2018 as ‘Deactivated’ with the reason stated as ‘Non-filing of DIR-3 KYC’.

After the expiry period, if the Director wants to re-activate his DIN, he needs to end up paying a Penalty of Rs. 5,000 and needs to file the required form i.e. DIR-3 KYC.

Conclusion

DIR3-KYC is very Simple form, but at the same time, details needs to be filled very carefully and timely i.e before the due date. Hubco.in can help you in updating your Director Identification Number (DIN) by filing DIR-3 KYC in Rs. 1599 only – Click here now to book

In case of any questions, you can post your query here.