MCA provided waiver of additional fees on list of forms

|

Annual Return of LLP (Form 11) required to be file by July 31, 2021

|

DIR-3 KYC form to be filed by September 30, 2021

|

RBI to give booster shot to Covid-hit services, MSMEs

|

The tax department has launch the much-awaited new portal 2.0

|

MCA launches first phase of MCA21 V3.0 portal

|

RBI announced to cut the key repo rate, at which it lends to banks, for a third straight time by 25 basis points to 5.75 percent.

|

What is DIR-3 KYC and how to make an application for KYC of Directors?


  • By : Product Management Group
  • 12/06/2021
  • What is DIR-3 KYC?

DIR-3 KYC is Form launched by the Ministry of Corporate Affairs. This form will be used to update KYC of all Directors. In this digitized era, application in e-form DIR-3 was sufficient to obtain DIN. This is a one-time process for any person who wants to be a director in one or more companies. However, now with MCAs move to update its registry, all directors with a DIN will have to submit their KYC details annually in Form DIR-3 KYC.

  • Who has to file DIR-3 KYC form?

Any Director who was allotted a DIN by or on 31st March, 2021 and whose DIN is in ‘Approved’ status will have to submit his KYC details to the MCA.

For Financial year 2020-21 onwards - Every Director who has been allotted DIN on or before the end of the financial year, and whose DIN status is ‘Approved’, would be mandatorily required to file form DIR-3 KYC before 30th September of the immediately next financial year.

After expiry of the respective due dates, system will mark all non-compliant DINs against which DIR-3 KYC form has not been filed as ‘Deactivated due to non-filing of DIR-3 KYC’.

  • Modes of DIR-3 KYC:

Following are the two modes of DIR-3 KYC:

1. DIR-3 KYC e-form based

2. DIR-3 KYC WEB based

  • Who can file e-form DIR-3 KYC?

Any DIN holder, who is filing his KYC details for the first time with MCA, must file all KYC details only through e-form DIR-3 KYC. There is no option for such a person to access the web-service for his KYC. Further, any DIN holder who wants to update any information of his KYC details must update the same through filing of e-form DIR-3 KYC only. Please note that no update in details can be made by accessing the web-service for DIR-3 KYC.

  • Who can file KYC through DIR-3 KYC web-service?

Any DIN holder who has already submitted e-form DIR-3 KYC in any of the previous financial years and who does not require update in any of his KYC details as submitted, may perform his annual KYC by accessing DIR-3 KYC web service. No fee is payable up to the due date of each financial year. After the due date, a fee of Rs.5000 shall be payable.

  • What are the Roadblocks involved in filing the e-form DIR-3 KYC?

1. Every Director will have to provide unique personal mobile number and email address while filing the e-form. This mobile number and email address will be verified by an OTP (one-time password).

2. The second check implanted here would be that the director has to use his own digital signature while filing this e-form.

3. Further, the third test to ensure that complete and right information is provided will be that the e-form should be certified by a practicing Chartered Accountant or Company Secretary, or Cost and Management Accountant.

  • Due Date and Penalty Charges for Not Filing DIR 3 KYC Form:

As per the provisions of Rule 12A of the Companies (Appointment and Qualification of Directors) Rules, 2014, every individual who is allotted DIN as on 31st March of a financial year must submit his KYC on or before 30th September of the immediately next financial year.

If the DIN holder does not file his annual KYC within the due date of each financial year, such DIN shall be marked as ‘Deactivated due to non-filing of DIR-3 KYC’ and shall remain in such Deactivated status until KYC is done with a fee of Rs.5000/-.

  • Documents required to file DIR-3 KYC Form:

1. Proof of permanent address (Madatory)

2. Copy of Aadhar Card (Optional)

3. Copy of Passport (Optional)

4. Proof of present address (If not same as permanent address)

  • Details required to file DIR-3 KYC e-form?

1.DIN

2. Applicant’s full name

3. Father’s full name

4. Latest passport size photograph

5. Citizenship

6. Nationality

7. Residency

8. Occupation Type

9. Educational Qualification

10. Date of Birth

11. Gender

12. PAN Number

13. Aadhar Number

14. Permanent residential address

15. Mobile Number

16. Email ID

  • Step by step guide to filing your DIR-3 KYC:

Step 1: Download the Form

First and foremost step is to download the DIR-3 KYC form from the MCA website.

http://www.mca.gov.in/MCA21/dca/downloadeforms/eformTemplates/NCA/Form_DIR-3_KYC.zip

Step 2: Fill in the DIN details

Directors must fill in the DIN in the KYC form, whose status is ‘Approved’.

Directors with deactivated DIN because of non-filing of KYC Form, can fill the form after the prescribed due date by paying late filing charges.

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

Name & Relevant credentials

The applicant must fill his/her first & last name and also the first & last name of his/her father.

1. Director must enter his name which is mentioned in his PAN

2. Address furnished in the form will be authenticated with the PAN database

3. Single alphabets, Acronyms, and Short forms are not permitted

Citizenship, Residency & Nationality

1. The applicant must select whether he/she is citizen of India? (Yes/No)

2. The applicant must select whether he/she is resident of India? (Yes/No)

3. A Director needs to declare his/her Nationality

4. Directors with foreign nationality must declare the nationality mentioned in his passport

Age Declaration

A director must enter his date of birth (DOB) in the DD/MM/YYYY format. Age declaration is mandatory because the person below the age of 18 years is ineligible to file this application.

Address

A director must mandatorily enter his permanent residential address and attach a proof of permanent address. When the current residential address is different from the permanent residential address, it becomes compulsory to furnish the current residential address.

Note: A foreign pin code can be furnished only when the state selected is “NA”.

Personal Mobile number & Email address

The applicant must enter unique personal mobile number and email address.

Step 4: PAN Verification

Permanent Account Number (PAN) verification is mandatory. First, a director must enter his PAN and then click on the ‘Verify income-tax PAN’ button. Then, the system verifies the details of the director on the basis of the PAN card number.

Note: The PAN furnished in the form should match with the PAN mentioned in the DSC for successful authentication. In case when the foreign nationals do not have a PAN, the name furnished in the form must match with the name mentioned in the DSC for successful authentication.

Step 5: Attachments to be attach

1. Proof of permanent address

2. Copy of Aadhar Card (self-attested)

3. Copy of Passport (self-attested)

4. Proof of present address (If not same as permanent address)

5. Optional attachments, if any

Step 6: Certification Details:

The applicant must enter the practicing professional details as per respective fields and click on “Check Form”

Step 7: Authentication of e-form

1. Director must digitally sign the e-form.

2. Directors must ensure that the e-Form is authenticated which means it is digitally signed by a Chartered Accountant/Cost Accountant, or a Company Secretary, practicing the profession. Furnishing the details of the practicing professional along with their digital signature is a crucial task which cannot be avoided.

3. Further applicant should click on “Prescrutiny” button.

Step 8: Update Contact Details and Verify OTP

1. A director must update his/her contact details by entering his/her mobile number and e-mail address, which gets verified through an OTP.

2. When a director enters these contact details, he/she needs to get them verified through an OTP by clicking on the ‘Generate OTP’ button after the submission of these details. Separate OTPs are sent for mobile number and email address.

3. Only the directors who are not residents of India are allowed to enter the country codes other than +91/91/0

4. It should be noted that an OTP will successfully be sent to the mobile number & email address for a maximum of 10 times/day and twice in 30 minutes against one form

5. Click on the “Submit button”

Step 9: Uploading of e-form on MCA Portal

The applicant should upload respective signed-certified e-form on MCA portal by doing Log IN and must click on “Submit” button.

Step 10: SRN Generation

Once the e-Form DIR-3 KYC is submitted successfully, an SRN is generated and allotted to the user for the future use correspondence with the MCA.