Companies Act / ROC

MCA new update -Know your clients (KYC) OF DIRECTOR

www.carajput.com; KYC

Know your customer (alternatively, know your client or ‘KYC’) is the process of a business identifying and verifying the identity of its clients.

When is required to File e-Form DIR 3 KYC?

According to Ministry of Corporate Affairs Rule 12A of Companies (Appointment and Qualification of Directors) Rules, 2014, the below person needs to file form Director Identification Number –DIR-3 KYC:

  • The person holds Director Identification Number as on 31st March of any FY
  • when any change in the Know your customer (KYC) like passport, mobile number, PAN details, address proof & email ID.
  • Disqualified Directors
  • A person having multiple Director Identification Number, after surrendering the multiple DINs’

Central Government has extended the KYC for Directors as well.

Just like Bank KYC, where governments want to know the Director and expect them to submit a yearly intimation about KYC and any changes, if any, in the details.

It’s a form first time introduced by the Ministry of Corporate Affairs (MCA) wide its notification dated July 5, 2018, by issuing an amendment to Companies (Appointment and Qualification of Directors) Rules.

What are Things to be kept in mind while filing DIR-3 e-Form KYC

  • In the case of the Director have to provide his Mobile No & email id while filing this e-form. This information will be verified by an OTP.
  • Directors will have to use their DSC sign for e filing this e-Form
  • The Directors will have to ensure that e-Form is certified by practicing the profession like a CA or CWA or CS,

This form should be duly certified by a practicing professional (CA/CS/CMA).

Filing of DIR-3 KYC would be mandatory for disqualified directors also.

There is no filing fees for DIR-3 KYC, however, if the form is filed after the due date, there is a penalty fee of Rs. 5,000 perform.

Who is needed to File e-Form DIR 3 KYC?

Every Director who has been allotted DIN on or before 31st March 2018 and whose DIN is in ‘Approved’ status, would be mandatorily required to file form DIR-3 KYC on or before 31st August 2018.

Otherwise, LATE FEES PENALTY 5000 FROM 1 Sept 2018 AND DIN WILL BE DEACTIVATED.

Basic Guidance on filing Eform DIR-3 KYC

When we required to filing the eForm DIR 3 -KYC form, the following important point to be noted :

Important points to be noticed:-

  • Filing of DIR-3 KYC would be mandatory for Disqualified Directors also.
  • e-Form DIR – 3 KYC, need to file based on DIRECTOR IDENTIFICATION NUMBER (DIN), so even though, if any Director holding multiple Directorship in Company.
  • then also they need to File e-Form DIR – 3 KYC, only once according to their DIN.

CheckPoints while Filling Form DIR-3-KYC:-

  • Unique Personal Mobile Number
  • Personal Email ID.
  • Duly verified by OTP on Email ID and Mobile No.
  • The e-Form should be required to be certified by Practicing Company Secretary, Practicing Chartered Accountant , Practicing Cost Accountant

Documents Required for Form DIR-3-KYC :

  • DSC of Director duly Registered;
  • Self-attested PAN card;
  • A Self-attested Aadhar card with the updated Mobile number with UIDAI;
  • The Self-attested Electricity Bill, Mobile Bill, Bank statement of Director (latest 2 Months) of his/her present address;
  • Latest Passport size photo;
  • DIN declaration cum KYC.
  • Passport (mandatory for foreign national holding DIN.

Information required for filing DIR-3 KYC FORM:-

  • DIN
  • Nationality
  • Personal Mobile No.
  • Personal Email ID
  • Having a Valid Passport
  • Residential status

What are the Attachments to be made while filling the forms?

The Eform filling applicant must upload the below documents.  You make sure to get the below E-forms attested too before filling with MCA form uploading:

  • Copy of Aadhaar Card.
  • Conditional attachments.
  • Proof of present address.
  • A Copy of Passport.
  • Proof of Permanent address.

Note:

  • Any other optional attachments should be DSC signed by the applicant of E Form.
  • DIR-3 KYC Will be deployed from 10.07.2018. it is applicable to all Individuals holding DIN.
  • THE first DIR3 KYC is needed to be filed by all Individuals who have been allotted DIN on or before March 31, 2018, need to file DIR-3 KYC on or before August 31, 2018.
  • Thereafter, DIR-3 KYC needs to be filed every year by all Individuals on or before April 30th every year
  • After the expiry of the due date by which the e-KYC form is to be filed, the MCA-21 system will mark all approved DINs (allotted on or before March 31, 2018) against which DIR-3 KYC forms have not been filed as ‘deactivated’ with a reason as ‘non-filing of DIR-3 KYC’.

Certification of e-form DIR-3 KYC.

  • Ensure that a chartered accountant/cost accountant practical or corporate secretary digitally signs the eForm. The practitioner’s details must be entered and the digital signature attached.
  • Click on the “Submit” button after a thorough proofread.

Step-by-step Process to File DIR 3 KYC Form

Step 1: Download the form from MCA

Step 2: Fill in the DIN details- Process after filling out the E-form DIR -3

Creating SRN: When the eForm DIR-3 KYC has been successfully submitted, a user SRN will be generated. For future MCA communication, this SRN is to be used.

Step 3: Furnish the Required Details in the DIR- 3 KYC Form

All the later Communication with email

An email will be sent to the applicant’s personal email identification with the approval of the receipt of the form. Once you receive your e-mail approval, you have completed the eForm KYC DIR-3.

What is the consequence of nonfilling of DIR-3 KYC within Due Date:

  • In the event a Director who should submit the e-Form does not submit it on the MCA 21 portal by 30 September, the department shall mark such manager’s DIN as ‘Deactivated because a DIR-3 KYC has not been filed.’
  • If the director wishes to re-activate his DIN in the future by filing the missed out eForm DIR-3 KYC, he can do so after paying a late fee of Rs 5,000.
  • This fee is due on or after 30 September of the year the DIR-3 eForm is to be filed. The directors must submit this form annually.

KYC File Director (DIN-3 KYC) – Prior to 14 Aug 2022

MCA KYC update.

  • Avoid a penalty now! The form KYC Directors(DIR-3 KYC) shall be — if DIN shall be allocated by or before March 31, 2022 — a mandatory ROC filing.
  • We offer an online process of 100%. The last day of filing is 30 September 2022 for director KYC.
  • Ministry of Corporate Affairs Due date for Director Identification Number KYC is 30/09/2022
  • kindly get all Know your customer (KYC) done within the time failing which there will be late fees of ₹ 5000/-.
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