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Director KYC
Why is Director KYC required?
Director KYC is a system established to maintain a comprehensive and up-to-date database of directors in India. This database plays a vital role in tracking directors’ legal status and ensuring the prevention of identity misuse, forgery, and fraudulent activities. Additionally, it assists regulatory bodies like the Ministry of Corporate Affairs (MCA), Registrar of Companies (ROC), and Securities and Exchange Board of India (SEBI) in effectively regulating Indian companies.
Who should file Director KYC?
All directors holding an Active DIN (Director Identification Number) must file the mandatory director KYC. This obligation applies irrespective of their current employment status. Whether currently serving as a director or having resigned or been disqualified, as long as your DIN status remains active, it is mandatory to submit the Director KYC form. The filing requirement can only be exempted when you voluntarily surrender your DIN or it is cancelled by the appropriate authority. Ultimately, it is the DIN status, not the employment status, that determines the necessity of filing Director KYC.
What is the due date for Filing DIR-3 KYC?
The deadline for submitting the DIR-3 KYC form is the 30th of September every year, corresponding to the previous financial year. For example, for the Financial Year 2022-2023 ending on the 31st of March 2023, the due date for the Director’s KYC will be the 30th of September, 2023. It is mandatory to file the DIR-3 KYC by this due date, failing which a penalty of Rs.5,000 will be imposed if the DIN KYC is filed late. Additionally, the DIN of the director shall be deactivated by the ROC until the DIN KYC is filed.
What are the forms filed for Director’s KYC?
| E-Form DIR-3 KYC | Web-based DIR-3 KYC Form |
|---|---|
The e-Form DIR-3 KYC is an online form on the MCA website used for Directors’ KYC filing. It is essential for first-time filing and updating any changes in KYC details. Fill out all details explicitly. Subsequent filings without new changes offer a simpler option. | The Web-based DIR-3 KYC Form is used for filing Directors’ KYC after the initial filing using e-Form DIR-3 KYC. This form is web-based and auto-populated with most data after the director enters their DIN Number. Web based form cannot be used if there is any change in the particulars of the director. |
Process of Filing Director’s KYC
Step 1: Checking DIN Status
To proceed with Director’s KYC, the first step is checking your DIN status. Visit the MCA website, navigate to the DIN section under the MCA services tab. If needed, reach out to us for assistance. Once confirmed, you can proceed to the next step.
Step 2: Accessing the correct form
To file Director’s KYC, you can choose between the e-form and web-based form DIR-3 KYC. The e-form is for new filings or updates to existing KYC details, while the pre-filled web-based form is for re-filing without any changes. Visit the MCA website to select the appropriate form and begin the process.
Step 3: OTP-Based Verification
To complete the verification process, fill in the details and click “Send OTP.” Enter the OTPs sent to your mobile and email accurately.
Step 4: Certification & Digital Signature
To complete the DIR-3 KYC form, you need to digitally sign and certify it using a Digital Signature Certificate. Along with the director, a Chartered Accountant, Company Secretary, or Cost Management Accountant must also certify the form to validate the provided details and documents. Submit the form on the MCA website to complete the Director KYC Filing process. Remember, there is no government fee for timely submission, but a late filing fee of Rs. 5000 applies after 30th September.
Documents Needed for Director KYC Filing
Photograph Front-facing latest passport size colour photograph of the director of Partner of LLP in JPEG Format. | Address Proof Passport, Voter Card, Driving License, Electricity Bill, Telephone Bill or Aadhaar (Not Older Than 2 Month) |
Pan Card PAN is mandatory for Indian Citizens, Please submit a copy of your pan card. Ensure that the particulars are updated | Mobile Number for OTP Mobile number is required for OTP verification. Foreign citizens must give their overseas mobile No. |
Passport Passport is mandatory for Foreign Citizens, However, if the Indian applicant has a passport then it is mandatory to file. | Email ID for OTP Furnish your email id on which the government can send communication and OTP for verification |
OUR BLOGS
- What is Directors KYC?
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Director KYC is an annual process that involves submitting updated contact information of a director to the Registrar of Companies using the DIR-3 KYC Form. Filing the DIN KYC does not incur any government fees. However, failure to file it within the stipulated time frame will result in deactivation of the associated DIN, with a subsequent fee of ₹5000/- required for reactivation of the Director Identification Number (DIN).
- Who has to File DIR-3 KYC?
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All company directors or designated partners in a Limited Liability Partnership (LLP), who have been assigned a Director Identification Number (DIN) on or before 31st March of a financial year, are required to file an electronic form (e-form) DIR-3 KYC with the Registrar of Companies (RoC) as part of their compliance obligations. This ensures accurate and up-to-date information is maintained in the company’s records and promotes transparency in corporate governance.
- What is the due date of DIR-3 KYC?
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The filing of director KYC in DIR-3 (KYC) has already commenced on 1st April 2023, offering a specified timeline for completion until 30th September 2023. It is crucial to adhere to this deadline, as failure to file within the prescribed timeframe will result in the imposition of an additional fee or fine of Rs 5000/- for each defaulting partner. Therefore, it is imperative for all concerned parties to promptly complete the director KYC filing process to avoid any penalties.
- Is Dir 3 KYC to be filed every year?
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Yes, Director KYC filing with the Registrar of Companies (ROC) is an annual activity that ensures compliance and maintains the effectiveness and activation of the Director Identification Number (DIN) throughout the year. It is a mandatory requirement for directors to file this form each year to provide updated information and verify their credentials with the ROC. This regular filing process helps to ensure transparency and accountability in corporate governance.
- What is the last date of director KYC?
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The director KYC (Know Your Customer) filing process begins on 1st April and extends until 30th September. During this period, there is no government fee applicable for filing. However, it is important to note that if the filing is done after the aforementioned date, a late filing fee of up to ₹5000/- may be imposed. Therefore, it is imperative for all DIN Holders to complete the filing process no later than 30th September 2023 to comply with the regulatory requirements.
- How do I check my director's KYC status?
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Please ensure to check your email address for confirmation mails from the MCA following the approval of the DIN KYC. If you encounter any difficulties, feel free to consult with us.
- Is the director's KYC date extended?
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Starting from 1st April 2023, the Director KYC Filing has officially commenced for the fiscal year 2022-23. It is imperative for all directors to comply with the requirements by the 30th of September. Please note that there will be no extension allotted for the DIN KYC process.
- What is the fee of Dir 3 KYC?
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There is no government fee for the Directors Identification Number (DIN) KYC filing, whether it is done through the Web-Based KYC or via the DIR-3 (KYC) filing process. It is important to note that if the filing is delayed beyond the due date of 30th September 2023, a fine or additional fee of ₹5000/- will be applicable. Therefore, it is crucial to ensure timely submission to avoid any penalties or extra charges.
- Whether Disqualified Directors are required to file DIR-3 KYC?
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Yes, the filing of DIR-3 KYC (Know Your Customer) would be mandatory not only for directors who are disqualified but also for those who want to ensure compliance with regulatory requirements and maintain transparency in their directorship positions. This step is crucial to uphold corporate governance and meet the necessary legal obligations.
- What happens if a director fails to file DIR-3 KYC?
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The MCA21 system will designate all approved DINs (allocated on or before March 31st, 2023) without a filed DIR-3 KYC form by September 30th, 2023, as ‘Deactivated’ with the reason being “Non-filing of DIR-3 KYC”. When a person’s DIN is deactivated, they are ineligible to hold any directorial position in a company.
