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DIR 3 KYC

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DIR 3 KYC

INTRODUCTION

The Ministry of Corporate Affairs introduced Director KYC form in the year 2018. The intent behind this is to collect the latest data or updated the data of the DIN holders on annual basis. In this E-form every person who is holding a Valid Director Identification Number is required to file a KYC form with the ministry. This e-form is required to be signed by the Director and the Professional wherein they declare that the details are correct and updated one. Further, necessary fees and penalties has also been levied to ensure timely and correct filing.

DO’s while filing DIR-3 KYC
  1. DIN is active on 31st day of March, 2019
  2. Ensure to provide personal Email ID that belongs to the Director permanently
  3. Ensure to provide personal Mobile Number which belongs to the Director only
  4. Present and Permanent address mentioned are correct
  5. Personal details provided should match with the proofs provided by the DIN holder.
  6. Any change in personal details of the Directors to be updated through form DIR-6.
  7. Any change in Mobile Number and / or Email ID to be updated through filing of DIR-3 KYC form only.
  8. Any person who has already filed KYC form last year is required to file only DIR-3 KYC WEB
 

Dont’s while filing DIR-3 KYC

The following things are required to be kept in mind while filing KYC forms:
  1. DIN holders official Email ID should not be mentioned in the Form.
  2. DIN holders official Mobile Number should are not be mentioned in the Form.
  3. Documents attached are not scanned in low resolution
  4. Documents should not be ambiguous or hazy
  5. Misleading or incorrect information should be avoided
  6. Any information provided must not be contradicted with the proofs provided.

APPLICABILITY

Every valid DIN holders who holds DIN as on 31st March, 2019 are required to file their KYC form on or before the 30th September, 2019. Any person who failed to file their KYC in the previous year, can complete their KYC by filling DIR-3 KYC form and making payment of Rs. 5,000/- (Rupees Five Thousand only). Such person are not required to file any KYC until the next 31st March.

Forms to be filed with the Ministry of Corporate Affairs

Case I
  • -DIR-3 KYC Web

Applicable to DIN holders who had already filed DIR-3 KYC form last year and there is no change in their personal details

Case II
  • -DIR-3 KYC:

Applicable to DIN holders who are filing for the First time or whose Mobile No. and /or Email ID is required to be updated

Case III
  • -DIR 6 & DIR-3 KYC

Applicable to DIN holders who wants to update their personal detail are required to first file DIR-6 and then proceed for DIR-3 KYC.

PENALTY

To ensure timely filing and updation of Directors personal information through KYC forms, Government has levied fees as well as taken necessary stringent action against the DIN holders as well as the Company which are as follows

  1. Government fees:Nil Government fees if filed on or before the Due Date i.e. 30th September, 2019.

   Delay in filing the Forms would attract Government Fees of Rs. 5,000/-.

  1. Deactivation of DIN: The DIN shall be deactivated through MCA data due to non filing of KYC. Hence, the DIN holder cannot be appointed or reappointed in a Company, unless he completes his KYC filing.
  2. Non Filing of Forms: Company would not be able to file any forms using the DIN of the Directors who failed to file the KYC forms.
CONCLUSION

To ensure smooth working of the Company as well as sign of good corporate governance, every DIN holder is required to complete their KYC due on time and the Company should ensure that the Directors KYC is duly completed on the due date. Non – compliance involves unnecessary time and money. To save your time and money, contact us @ contact@complianceship.com or complianceship@gmail.com or whatsapp us @ +91 8010233173.

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