What is Director KYC (DIR-3 KYC) and procedural norms of filing e-form DIR-3 KYC with MCA?

Director KYC (DIR-3 KYC) (1)

A director of an LLP and Company has a Unique Identification number, called as Director’s Identification Number (DIN). It is given at the time of incorporation of LLP or Company or can be applied separately by filing application for DIN. Thus, every director is mandatorily required to possess DIN.

Earlier on, it was one-time process but the MCA has mandated every director to update the Director’s registry annually by submitting KYC details through the e-form DIR-3 KYC because the MCA found that the details given by the directors at the time of applying DIN were either not correct or not updated. Therefore, it became very difficult for MCA to enforce the various statutory compliances and regulatory actions especially in the case of fraud or non compliance.

There upon, the MCA introduced the compulsory e-filing of KYC by directors having valid DIN with the following objectives –

    • To assure that the updated details are available in the records of MCA
    • To deactivate the DIN of the directors which are not being used by the directors and whose updated details are not available with the MCA.

 

Who is required to file Director’s KYC form DIR-3 KYC?

Every individual who has been allotted DIN on or before the end of the relevant Financial Year i.e. 31st March and whose DIN Status is approved on the MCA Portal is mandatorily required to file e-form DIR-3 KYC on or before 30th September of the immediately succeeding financial year.

 

How to file DIR-3 KYC Form?

A Director who is doing the Director’s KYC for the first time or who wants to update any of his details is required to file the form DIR-3 KYC. It is an e-form which can be downloaded from the MCA portal. There is Rs. 0 fee applicable on filing Director’s KYC.

 

Steps to file DIR-3 KYC Form –

Download the form

Subsequently, open the form and fill the DIN and then all the details shall be prefilled in the form. Thereafter, following details are required to filled –

    • Full Name
    • Father’s Name
    • Date of Birth
    • Nationality
    • Resident of India or not
    • PAN No. and then verify the PAN. When all the details are filled as per the PAN then it will show that PAN is verified successfully.
    • Whether you have Aadhaar or not? If yes, then write the Aadhaar number.
    • Whether you have a passport or not? If yes, then write the Passport Number.
    • Phone Number and Mail ID. There is an option to verify the phone number and mail id which shall get enabled only after the successful prescrutiny.
    • Address
    • Attach documents –
    • Proof of Address (Mandatory document)
    • Copy of Aadhaar (Mandatory document, if Aadhaar number is given)
    • Copy of Passport (Mandatory document, if Passport number is given)
    • Fill details of CA/CS/Cost Accountant/ Management Accountant who is certifying the form.

Thereafter, click on check form if it is successful then attach the DSC of Director and then of Certifying person.

Then Click on prescrutiny, if it is successful then verify OTP button shall be enabled. Lastly click on verify OTP and then fill OTP.

Upload the form on MCA portal.

 

Steps to file Form  DIR-3 KYC web on MCA Portal–

If the director has already filed DIR-3 KYC form in any of the previous years and who does not want to update any details, then the Director’s KYC can be done through web KYC service. For this, the director is required to follow following steps –

  1. Login to MCA Portal and then Go to MCA Services and click on DIN services. There shall be an option of DIR-3 KYC web, click on that.
  2. Enter the DIN of the applicant
  3. Click on prefilled, all the details shall be prefilled automatically and thus prefilled number and mail id shall be shown.
  4. Click on send OTP and then enter the OTP received on phone and mail both.
  5. Lastly, verify the OTP and click on submit.

 

Implications of not filing DIR-3 KYC Form

If the director who is required to file DIR-3 KYC Form, fails to file the form within the prescribed time-limit that is on or before 30th September, then the director’s DIN status shall be changed from approved to “deactivated” due to “Not filing of DIR-3-KYC Form”.

Moreover, a penalty of Rs.5,000 shall be imposed on the director on filing of DIR-3 KYC Form after the expiry of due date.

 

Conclusion

If you are looking for a Team of Chartered Accountants to file Director’s KYC and to guide you through the process then contact your Trustworthy Advisors Manthan Experts by dialing at +91-9643-969-969 or mail at info@manthanexperts.com.

Click Here To Seek Assistance


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