Background: The Ministry of Corporate Affairs (MCA) recently issued a notification regarding Company’s Third Amendment Rules, 2019 and the Company’s Fourth Amendment Rules, 2019 on 25 July 2019. According to the notification, Form DIR-3 KYC has to be filled by anyone who holds a Director Identification Number (DIN) and is filing their KYC details for the very first time or by someone who has already filed for a KYC but wants to update their details. The last date for filing the e-form is 30 September 2019. Anil Ganga in this article explains all about e-Form DIR-3KYC.

As per the latest amendment of the Companies Act, 2013, the Company’s (Appointment and Qualification of Directors) Third and Fourth Amendment Rules, 2019 have been notified w.e.f 25 July 2019. Under the notification, every DIN (Director Identification Number) holder need to provide their KYC to MCA / ROC via mca.gov.in in e-Form DIR-3KYC on or before 30 September 2019.

E-form DIR-3 KYC is to be filed by an individual who holds Director Identification Number (“DIN”) or Designated Partner Identification Number (DPIN) and is filing his/her KYC details for the first time or by the DIN/DPIN holder who has already filed his KYC once in E-form DIR-3 KYC but wants to update his details. No fees is required to pay to MCA, but if delayed beyond 30 September 2019, then INR 5,000 penalty shall have to be paid for each DIN.

The Director Identification number or DIN is an eight digit unique identification number issued by the central government for an existing director of a company or anyone who wishes to be the director of a company. Earlier, filing e-Form DIR-3 was sufficient to get a DIN but in a recent move by MCA, Know Your client (KYC) is mandatory to be submitted along with filing the e-form.

No fees is required to pay to MCA, but if delayed beyond 30 September 2019, then INR 5,000 penalty shall have to be paid.

Requirements for filing Form DIR-3KYC

1. Digital signature of the DIN holder

2. Self-signed PAN and Aadhaar card

3. Self-signed passport, driving license and voter ID etc, if available.

4. Functional email and phone number

5. Certification by CS/CA

Also read: Government proposes major labour law changes for ease of compliance

Why is KYC required?

KYC is an integral process that every business follows. KYC helps businesses in keeping a record of the identity of a customer/client before getting n to business. The MCA is collecting KYC of all DIN Holders / Directors to effectively communicate the developments and to make repository of KYCs.

Who must file?

1. All DIN holders

2. Even the Directors who are disqualified are required to file the same

3. DIN holder who is not yet a Director in any company shall also file this form

4. DIN holder who previously filed Form DIR-3KYC can simply update their KYC in Form DIR-3 KYC web.

5. To update the details / changes in the particulars of the DIN holder like change in address, phone number, email etc shall also be updated by filing the Form DIR-3 KYC

Also read: How to apply for Digital Signature Certificate & its benefits

What are the penalties for non-filing?

1. INR 5,000 penalty for delayed filing

2. Deactivation of the DIN 

How to file DIR-3 KYC?

1. Download the e-Form DIR-3 KYC here.

2. Fill the form completely

3. Sign digitally using digital signature

4. Get it certified by a CS / CA

5. Upload on www.mca.gov.in

Note: Views expressed here are purely for general purpose, shall not treat as Advise. 

Also read: Bar Codes: Advantages and required application documents

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