dir-3 kyc

The Ministry of Corporate Affairs, India has issued a notification to capture KYC details of all the Directors in e-From DIR-3 KYC and the form has been made available for filing with effect from 14.07.2018.

Notifications:

  • MCA has decided to update its registry annually on the KYC details of all Directors
  • This update is by way of receipt of ID & Address proof of Directors those who possess DIN as on the 31st Day of March of that year
  • Accordingly, every Director who has been allotted DIN on or before 31st March, 2018 and whose DIN is in ‘Approved’ status, would be mandatorily required to file form DIR-3 KYC on or before 31st August, 2018
  • While filing the form, the Unique Personal Mobile Number and Personal Email ID would have to be mandatorily indicated and would be duly verified by One Time Password(OTP)
  • The phone number and email id must be accessible so as to input the OTP in time for verification
  • The form should be filed by every Director using his own DSC and should be duly certified by a practicing professional
  • This filing of DIR-3 KYC is mandatory for Disqualified Directors as well who possess DIN
  • This is effective 10th July 2018 vide the Companies (Appointment and Qualification of Directors) 4th Amendment Rules, 2018

Cheklist

For Indian Nationals:

  • Valid DIN (Director Identification Number) of the Director
  • Valid verifiable email address of the Director**
  • Valid verifiable mobile number of the Director**
  • Self-attested copy of the PAN Card;
  • Self-attested copy of the Aadhaar Card**
  • Self-attested copy of Passport/ Voter ID/Driver License/Latest Bank Statement
  • Valid DSC (Digital Signature Certificate) for the Director
  • **Email & Mobile number if linked to Aadhaar will be preferred

For Foreign Nationals:

  • Valid DIN (Director Identification Number) of the Director
  • Valid verifiable email address of the Director
  • Valid verifiable mobile number of the Director
  • Self-attested copy of the Passport as ID Proof**; and
  • Self-attested copy of the Drivers’ License/ Resident Permit Card/ Latest Utility Bill/ Latest Bank Statement as address proof**
  • Valid DSC (Digital Signature Certificate) for the Director
  • **The ID Proof & Address Proof Documents must be Notarised and Apostilled/ Legalised in the host country to which the proofs pertain to.

DSC(For those who do not have / issued DSC has expired)

For Indian Nationals:

  • Valid verifiable email address of the Director**
  • Valid verifiable mobile number of the Director**
  • Self-attested copy of the PAN Card; and
  • Self-attested copy of the Aadhaar Card**/ Passport/ Voter ID/ Latest Bank Statement
  • Straight Facing passport size colour photograph to be affixed in the space provided
  • Signature and filling up of the form must be in BLUE ink only

For Foreign Nationals:

  • Valid verifiable email address of the Director
  • Valid verifiable mobile number of the Director
  • Self-attested copy of the Passport as ID Proof**; and
  • Self-attested copy of the Drivers’ License/ Resident Permit Card/ Latest Utility Bill/ Latest Bank Statement as address proof**
  • Straight Facing passport size colour photograph to be affixed in the space provided
  • Valid DSC (Digital Signature Certificate) for the Director
  • **The ID Proof & Address Proof Documents must be Notarised and Apostilled/ Legalised in the host country to which the proofs pertain to.

Form DIR-3 KYC:

  • We are awaiting the notification of Companies (Appointment and Qualification of Directors) 4th Amendment Rules, 2018
  • These Rules shall bear the format and other details required to be input in Form DIR-3 KYC
  • This will be an e-form that shall be digitally signed using the DSC of the Director/ Designated Partner holding DIN and will be Certified by a Practicing Professional
  • The Form will be uploaded on the MCA21 Portal and will generate an SRN receipt for successful e-filing

Deadlines:

  • Form DIR-3 KYC must be filed by all the individuals holding approved DIN as on 31.03.2018
  • The form must be filed on or before 31.08.2018
  • If the form is not filed within the above due date, the DINs will be “DEACTIVATED” with reason Non-filing of DIR-3 KYC
  • After the due date filing of DIR-3 KYC in respect of such deactivated DINs shall be allowed upon payment of a specified fee (INR 5,000) only, without prejudice to any other action that may be taken

Fees Structure:

Particulars Amount in INR
Cost of DSC for Indian Nationals(if required) INR 1500 + GST
Cost of DSC for Foreign Nationals(if required) INR 2500 + GST
Cost of Preparation, Verification of applicant details, Certification and e-filing of Form DIR-3 KYC for(Indian Nationals) INR 2000 + GST
Cost of Preparation, Verification of applicant details, Certification and e-filing of Form DIR-3 KYC for(Foreign Nationals) INR 3000 + GST

Terms:

  • All original documents must be received at our office for filing the Form DIR-3 KYC.
  • Foreign Nationals may take into account the time line for obtaining Notary & Apostille so as to ensure dispatch of documents earlier so that we can receive them well before 25th August 2018.
  • Since there are over 1 million DINs and the deadlines are short, we expect massive filings in the last week of August, and request the individuals to submit the documents well in advance to avoid last minute rush/ delays.
  • Since this is a new requirement notified by MCA, this assignment is not covered in any Retainership scope of services and will be an Annual Independent Compliance Assignment.
  • Although the requirement is for individuals who hold DIN, the Companies are obligated to bring this to the notice of current and past directors who are still in engagement with the Company so that these individuals do not fall under the category of defaulters and can avoid getting their DINs deactivated.
  • All those who are not part of the Retainership contract with Conscientia, will have to make the payment in advance and those in contract will have to share their approval.

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