Form DIR-3 KYC – Update KYC of Every Individual holding DIN

Registrar of Companies, Ministry of Corporate Affairs has specified a new form called eForm DIR-3 KYC for updating the KYC of every Individual who has been allotted a Director Identification Number (DIN).

 

The details are as below:

Governing Law:

Ministry of Corporate Affairs (MCA) vide Notification dated 5th July 2018 has amended Companies (Appointment and Qualification of Directors) Rules, 2014 by inserting Rule 12A and made Directors KYC mandatory which is effective from 10th July 2018.

eForm DIR-3 KYC is required to be filed pursuant to Rule 12A and Rule 11(2) and (3) of The Companies (Appointment and Qualification of Directors) Rules, 2014.

 

To Whom it is applicable:

It is applicable to every Individual who has been allotted a Director Identification Number (DIN).

Kindly note that appointment in any company / LLP is not required to file eForm DIR-3 KYC is not required.

An individual holding DIN is mandatorily required to file eForm DIR-3 KYC irrespective of the fact that whether he is Director /  Designated Partner in any company / LLP respectively.

 

Purpose:

Ministry of Corporate Affairs would be conducting KYC of all directors of all companies annually.

So, the purpose of the form is to verify the KYC of every Individual who has been allotted a Director Identification Number (DIN).

 

Time Limit for Filing:

The eForm DIR-3 KYC is required to be filed annually on or before 30th April after the end of the financial year.

For the year ended on 31.03.2018, the form is required to be filed on or before 31st August, 2018.

 

Fees for Filing:

The Registrar of Companies will not charge any fees for filing of eForm DIR-3 KYC, if form is filed within the prescribed time.

However, if the form is not filed within the prescribed time limit then there will be fees of Rs. 5000/- for every individual who has not filed eForm DIR-3 KYC in time.

Apart from that, the DIN of the non fillers will be De-Activated.

 

Documents to be submitted:

  1. PAN of Individual
  2. Aadhar (Mandatory for Indian Citizen)
  3. Passport (Mandatory for 1) All Foreign Citizens 2) All Indian Citizens holding Passport)
  4. Unique Email id and Mobile Number (OTP verification will be required therefore, the Mobile number and Email id should be Unique).
  5. Proof of Permanent Residential Address (Any one out of – Bank statement / Mobile / Telephone / Electricity Bill – It should not be older than two months).
  6. A valid digital signature

 

Certification:

eForm DIR-3 KYC is required to be digitally signed by the applicant director and the same is required to be certified by either Practicing Chartered Accountant or Company Secretary or Cost and Management Accountant.

P Chhajed & Co LLP, a renowned and Top Chartered Accountant Firm in Ahmedabad, is a Limited Liability Partnership Form of organization, a highest form of organization a Chartered Accountancy Firm is permitted to form.

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