For updating the details, MCA conducts Director KYC of all companies annually through E-form viz. DIR-3 KYC. Every Director to whom a DIN has been allotted on or before 31st March 2019 and whose DIN is in ‘Approved’ status, would be required to file form DIR-3 KYC on or before 30th September every financial year.
In a significant move, the Ministry of Corporate Affairs has decided to carry out the KYC (Know Your Customer) process for all directors.
As per the Ministry, the form should be filed by every director using his own Digital Signature Certificate (DSC) and should be duly certified by a practising professional Chartered Accountant, Company Secretary or Cost and Management Accountant.
KYC DOCUMENTS FOR COMPANIES FOR DIR-3 KYC
- PAN CARD
- AADHARCARD
- PASSPORT, IF AVAILABLE
- DIGITAL SIGNATURE OF THE DIRECTOR
- UNIQUE EMAIL ID AND MOBILE NUMBER
- DECLARATION SIGNED BY DIRECTOR
In the case of Foreign Nationals, documents need to be apostille/ attested by the prescribed authority.
DIRECTOR KYC PROCESS
Director KYC is a simple process which requires basic information about the Director like DIN, Name, and Address of the Director.
FORM DIR-3 KYC CERTIFICATION –
- Affixation of the Digital Signature of the Director
- Affixation of DSC of Practicing Professional i.e. CA, CS or CMA
PRE-SCRUTINY OF FORM & GENERATION OF OTP-
After successful Pre-scrutiny of the Form, the OTP (One-time Password) Button will be enabled & generated on the Personal Mobile No. and E-mail ID provided and needs to be entered & verified in the Form.
After verifying, the form needs to be uploaded to the MCA website.
Applicable Fee for form DIR-3 KYC
If Form DIR-3 KYC, is filed within the due date of the respective financial year, no fee is payable. However, if filed after the due date, for DIN status ‘Deactivated due to non-filing of DIR 3 KYC Late Fees of Rs. 5000 becomes payable.
ADVANTAGE OF DIRECTOR KYC
- Avoid DIN deactivation
- Compliance of MCA
CONSEQUENCES OF NON-FILING FEES OF DIR-3 KYC
The department will mark the DIN of such director as ‘Deactivated’ with the reason of ‘Non-filing of DIR-3 KYC’ in case, the director who is supposed to file the e-Form does not file it by the end of the due date (i.e. According to Rule 12A The Companies Appointment and Qualification of Directors Rules, 2014 dir 3 kyc web, for individuals with a DIN as of March 31st must submit Form DIR-3 KYC by September 30th of the immediate next financial year. Rule 11(2) empowers the Central Government to deactivate a DIN if the director fails to submit their particulars within the stipulated time.
DIR 3 KYC due date for FY 2023 24 (Review Year) is 30th September 2023.
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FAQS
1- What is the DIR 3 KYC?
DIR-3 KYC (Web) aims to simplify the process for verification of a director’s KYC details. immediate next financial year to validate and confirm the KYC details existing in the MCA21 database. The service is only a medium of verification of existing details and no update of information is possible through this service.
2- How to do director KYC online/ how to file DIR 3 KYC web?
- Director KYC is a simple process which requires basic information about the Director like DIN, Name, and Address of the Director.
- Affixation of the Digital Signature of the Director
- Affixation of DSC of Practicing Professional i.e. CA, CS or CMA
- After successful Pre-scrutiny of the Form, the OTP (One-time Password) Button will be enabled & generated on the Personal Mobile No. and E-mail ID provided and needs to be entered & verified in the Form.
- After verifying, the form needs to be uploaded to the MCA website.
3- Is Dir 3 KYC to be filed every year?
Requirement to file DIR-3 KYC form. Every Director who has been allotted DIN on or before the end of the financial year, and whose DIN status is ‘Approved’, would be mandatorily required to file form DIR-3 KYC before 30th September of the immediately next financial year.
4- Whether the mobile number of the foreign director mandatory, or OTP will be generated on the foreign contact no.?
It is mandatory to mention the personal contact number of the director. Therefore, in the case of a foreign Director is mandatory to mention his contact no.
Second, In the case of foreign mobile no. OTP will be generated and is mandatory to fill in the form.
5- Whether designated partner in LLP is required to file DIR-3 KYC?
As DIR-3 KYC is DIN-based, therefore, if a person is a designated partner in LLP such a person must have DIN. Therefore, he/she must file DIR- 3 KYC.
6- What is the last date for filing DIR 3 KYC 2023?
30th September 2023
7- What is the time limit for filing DIR-3?
Any person who has been allotted a Director Identification Number (DIN) up to 31st March of a Financial year is required to file this webform on or before 30th September of the immediate next financial year to update the latest KYC details of himself in the system for facilitating the enforcement function.
📢 Related Blog: DIR-3 (KYC)
📢 Related Blog: File Director KYC 2022 | Filing of DIR-3
Chartered Accountant by profession, CA Sanket Agarwal has an experience of above11 years in Cross Border compliance , Import Export , International Taxation & is a passionate content creator.