Mandatory KYC to be done by every Director with MCA

Companies (Appointment and Qualification of Directors) Third Amendment Rules, 2019

(Filing of Form DIR-3 KYC / Form DIR-3 KYC WEB)

The Ministry of Corporate Affairs (MCA) has introduced new amendment to the Companies (Appointment and Qualification of Directors) Rule, 2014 on 25th July, 2019. The key features of the these amendments are as under;

• Every individual holding Director Identification Number (DIN) as on 31st March of a financial year shall, submit e-form DIR-3-KYC for the said financial year to the Central Government on or before 30th September of immediate next financial year.

• However, where an individual who has already submitted e-form DIR-3 KYC in relation to any previous financial year, shall file web-form DIR-3 KYC-WEB through the web service in relation to any subsequent financial year by 30th September.

• For example, if any individual got new DIN number in particular financial year than he/she shall file e-form DIR-3 KYC on or before 30th September of immediate next financial year and thereafter he/she shall file web-form DIR-3 KYC WEB with MCA for subsequent financial years by 30th September.

• Web form DIR-3 KYC WEB is introduced by the MCA for the easement of Directors, who has already submitted their KYC documents in e-form DIR-3 KYC in previous financial year, as the said web form does not required any attachment nor it need any OTP verification of contact details and in addition to that it also not required any professional certification/attestation.

• Further, it shall also be noted that in case an individual desires to update his personal mobile number or the e-mail address in his DIN data, he/she shall update the same by submitting e-form DIR-3 KYC only.

This will be new compliance which need to done by every individual having DIN on or before 30th September in every financial year.

MCA website link:
http://www.mca.gov.in/Ministry/pdf/ThirdAmendRules_25072019.pdf