DIR 3 KYC: Simplified Directors Database

With a specific end goal to update its Director database, The MCA has presented the arrangement of E-Form DIR-3 KYC under new Rule 12A, vide the ‘companies (Appointment and Qualification of Directors) Fourth Amendment Rules, 2018’, by strategies for see dt. 05.07.2018, material w.e.f. 10 July, 2018.

What is DIR-3 KYC Form

DIR 3 KYC Form is a Freshly Introduced KYC or Know your customer Form by Ministry of Corporate Affairs whereby every Individual who is holding DIN (Director Identification number) is required to record his/her particulars in Form DIR-3 KYC reliably before April 30 reliably. For the present year, DIR-3 KYC is required to be recorded at the most recent August 31, 2018.

What is the filing fees for DIR 3 Kyc Form

There are no account costs or Filing Fees for DIR-3 KYC, in any case, if the Form is archived after the due date, there is a discipline charge of Rs. 5,000 for each Form.

Who is required to file DIR-3 KYC

A person Who is a Director in a company and has been allotted out a Director Identification Number (DIN) as on 31st March of a Financial year according to these guidelines will, submit E-Form DIR-3-KYC to the Central Government and no more ongoing 30th April of incite next Financial year.

Provision for Filling DIR-3 KYC Form

• If DIN was allotted as on the date of 31st of March, 2019, then you are required to file DIR-3 KYC before 30th April, 2019.
• Provided that every individual who has already been allotted a Director Identification Number (DIN) as at 31st March, 2018 shall submit E-form DIR-3 KYC on or before 31st August, 2018.
• If Director Identification Number was allotted on or before 31st of March, 2018 then you are required to file DIR-3 KYC on or before 31st August, 2018.

Documents required to be filled with DIR-3 KYC Form

• Director Identification Number (DIN)
• Full Name of Individual and Fathers Name of Individual
• Income Tax PAN Card
• Voters Identity card (discretionary)
• Passport (obligatory for remote national holding DIN)
• Driving License (discretionary)
• Aadhar card (compulsory)
• Personal Mobile number and Personal Email Address (required)
• Residential address proof such as rent Agreement or Property Papers etc.

Important Dates for DIR-3 Kyc Form

EForm DIR-3 KYC is required to be sent from July 10, 2018, and it is correlated to each one of the Individuals holding DIN. In the first place DIR3 KYC is ought to have been recorded by all Individuals who have been assigned DIN at the specific most recent March 31, 2018, need to report DIR-3 KYC at the most recent August 31, 2018. Starting there, DIR-3 KYC ought to be recorded every year by all Individuals at the most recent April 30th reliably.

Penalties and Consequences upon non-filing of DIR-3 KYC Form

If an Individual Files Form after the due date, he/she should pay Rs. 5,000 execute as an additional chronicle charge. Despite the above discipline, any wrong information, if any gave in the shape, will in like manner subject for discipline under Section 448 and 449 of the Companies Act, 2013. Further, a deactivated DIN infers a man can’t go about as a Director while his DIN is deactivated and any show done by him/her will be invalid and which may attract diverse disciplines under Companies Act, 2013.

Conclusion for DIR 3 KYC: Simplified Directors Database

If You are a Director Of A Company Then you should Keep in Mind That you File DIR-3 KYC Form in time because now its Mandatory annual compliance for private limited company , As If You Do not File DIR-3 KYC In time Then you will have to Huge Penalty for non filling or Your DIrector Identification Number Will get Deactivated .