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DIR-3 KYC is a form prescribed by the Ministry of Corporate Affairs (MCA) for the purpose of updating the KYC (Know Your Customer) details of Directors of companies registered in India. Here’s an overview of DIR-3 KYC:
1. Objective:
- The primary objective of DIR-3 KYC is to ensure that the MCA has accurate and up-to-date information about the directors of Indian companies.
2. Applicability:
- Every individual who has been allotted a Director Identification Number (DIN) as per the provisions of the Companies Act, 2013, is required to file DIR-3 KYC.
- The filing of DIR-3 KYC is mandatory for all directors, including those who are disqualified or inactive.
3. Filing Frequency:
- DIR-3 KYC is required to be filed annually by all directors within a specified due date, as notified by the MCA.
- The due date for filing DIR-3 KYC is typically set by the MCA and communicated through official channels.
4. Information Required:
- DIR-3 KYC form requires directors to provide various personal and professional details, including full name, DIN, PAN, passport details (if applicable), residential address, contact information, and email ID.
- Directors are also required to upload supporting documents such as PAN card, Aadhaar card, passport (if applicable), and current address proof.
5. Filing Process:
- Directors can file DIR-3 KYC online through the MCA21 portal using their login credentials.
- The form must be digitally signed by the director using a valid Digital Signature Certificate (DSC).
- Upon successful submission, a unique acknowledgment number (DIN KYC Reference Number) is generated for future reference.
6. Consequences of Non-Compliance:
- Failure to file DIR-3 KYC within the prescribed due date may result in penalties, deactivation of DIN, and disqualification of the director.
- Non-compliance may also lead to difficulties in conducting business transactions and legal proceedings involving the director.
7. Verification and Approval:
- After submission, the information provided in DIR-3 KYC is verified by the MCA to ensure accuracy and completeness.
- Upon successful verification, the director’s KYC details are updated in the MCA database, and a confirmation is sent via email.
8. Importance:
- DIR-3 KYC is essential for maintaining transparency, accountability, and credibility in corporate governance.
- It helps prevent identity theft, fraud, and misuse of directorship positions by ensuring that only genuine individuals hold director positions in companies.
Overall, DIR-3 KYC is a critical compliance requirement for directors of Indian companies, and timely filing is necessary to avoid penalties and maintain regulatory compliance. Directors should ensure that they provide accurate and updated information in DIR-3 KYC to fulfill their obligations under the Companies Act, 2013.