Complete your Director's KYC before 31st August to save Rs 5000/- penalty

Purpose of the eForm:

 As part of updating its registry, MCA would be conducting KYC of all Directors of all companies annually through the e-form DIR-3 KYC. 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.

eForm DIR-3 KYC is required to be filed pursuant to Rule 12A and Rule 11(2) and (3) of The Companies (Appointment and Qualification of Directors) Rules, 2014 which is reproduced for your reference.

Rule 12A:

Every individual who has been allotted a Director Identification Number (DIN) as on 31st March of a financial year as per these rules shall submit e-form DIR-3-KYC to the Central Government on or before 30th April of immediate next financial year.

Provided that every individual who has already been allotted a Director Identification Number (DIN) as at 31st March 2018, shall submit eform DIR-3 KYC on or before 31st August 2018."

Rule 11(2):

The Central Government or Regional Director (Northern Region), or any officer authorized by the Central Government or Regional Director (Northern Region) shall deactivate the Director Identification Number (DIN), of an individual who does not intimate his particulars in e-form DIR-3-KYC within stipulated time in accordance with rule 12A.

Rule 11(3):

The de-activated DIN shall be re-activated only after e-form DIR-3-KYC is filed along with fee as prescribed under Companies (Registration Offices and Fees) Rules, 2014.

Documents/ Information Required for DIR-3-KYC form

1. Valid Mobile No. and email address for OTP verification
2. DSC of Director mandatory;
3. Self-attested PAN card;
4. Self-attested Aadhaar card with updated Mobile number with UIDAI;
5. Self-attested Passport, Driving License, Electricity Bill, Mobile Bill, Bank statement of Director (latest 2 Months).

All about form DIR-3 KYC

• 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.

• MCA notifies format of e-form DIR-3 KYC under new Rule 12A (Directors KYC) along with procedure for restoration of deactivated DINs of Directors, applicable w.e.f. 10 July, 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).

• Filing of DIR-3 KYC would be mandatory for Disqualified Directors also.

• After expiry of the due date by which the KYC form is to be filed, the MCA21 system will mark all approved DINs (allotted on or before 31st March 2018) against which DIR-3 KYC form has not been filed as ‘Deactivated’ with reason as ‘Non-filing of DIR-3 KYC’.

• The form should be filed by every Director using his own DSC and should be duly certified by a practicing professional (CA/CS/CMA).

• No fee shall be chargeable till the 31st August, 2018 and fee of Rs.5000 shall be payable on or after the 1st September, 2018

• After the due date filing of DIR-3 KYC in respect of such deactivated DINs shall be allowed upon payment of a late fee/ penalty of Rs. 5000/-.

So please complete your Director KYC before 31 August 2018 to save penalty of Rs.5,000/-

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