KYC of Directors, Form DIR-3 KYC Under Companies Act, 2013 By CS Rahul Harsh


Dear Professional Colleagues,

The Ministry of Corporate Affairs by its notification dated 5th July 2018 has notified the “Companies (Appointment and Qualification of Directors) fourth Amendment Rules, 2018”. The rules require that

"EVERY PERSON HOLDING DIN MUST GET HIS KYC UPDATED WITH THE MINISTRY OF CORPORATE AFFAIRS WITHIN DUE DATES PROVIDED IN THE RULES."

This Article deals with the practical aspects of the said rules and tries to clarify the requirements in a simplified form.
 
  • The effective date of Notification: 10th July 2018.
  • Purpose of the Rules: To update KYC of All Persons having DIN irrespective of the fact if such person is holding any Directorship or Not. It is pertinent to note here that DISQUALIFIED DIRECTORS are also required to file this form as per the time schedule is given below.
  • Applicability: All the Persons whether Indian Resident or an NRI or Foreign National are required to file the form with MCA.
Time Limit:

  1. At the time of Commencement of the RULES: The Persons who have been allotted DIN TILL 31.03.2018 are required to file the EFORM DIR – 3 KYC with MCA by 31.08.2018.
  1. Yearly KYC Compliance from FY 2019-2020 onwards: The Persons holding DIN shall file DIR – 3 KYC with MCA on a yearly basis. Therefore, all persons having DIN as on 31st March of the previous FY shall file this EFORM on or before 30th April of the current FY.
  • Filing FEES: There are NO FEES for filing the form on MCA. Provided that the form is being filed within the specified TIME LIMIT. Or Else the Form shall be filed with a fee of Rs. 5,000/-
  • Effect of NON- FILING: After the said due dates the DIN shall be marked as DEACTIVATED with reason “Non-filing of DIR – 3 KYC”. And the Person shall not be eligible to use the DIN till the KYC is completed. The deactivated DIN shall only be activated after the FORM DIR – 3 KYC has been filed with MCA with the fees.
Features of the FORM:
 
  • PAN CARD: For Indian Nationals PAN is mandatory to file this form.
  • All data provided in DIR – 3 KYC shall be as per the data provided with Income tax department. In case there is any difference the person should update the PAN DATA before filing the form DIR – 3 KYC.
  • Name: The Person shall fill HIS / HER - FULL NAME and not Abbreviations. The Full name should be same as provided in the documents attached for identity and address proof.
  • Father’s Name: It is compulsory to give father’s name. It may be noted that using Late for deceased person is not required. The further Married woman is also required to provide her father’s name in the form.
  • Passport: For Foreign nationals having DIN it is compulsory to have Passport and the No. of the same should be provided in the form. For Indians, it is not mandatory BUT if the person is having a passport the details of the same should be provided.
  • Aadhar: Having Aadhar is COMPULSORY for filing this Form. The Details provided in Aadhar should match with both PAN details and the DIN Details. In case your Aadhar is not updated please get the same done at the earliest.
  • MOBILE & EMAIL ID: Person should provide HIS PERSONAL WORKING MOBILE NO. & PERSONAL WORKING EMAIL ID. An OTP shall be sent by MCA on the MOBILE NO. AND EMAIL ID provided. The OTP shall be used for verification purpose.
  • Present Residential Address of the Person should be as per the Address Proof Documents attached with the Form. The Permanent address may or may not be the same as the present address.
ATTACHMENTS:

  1. PROOF OF IDENTITY: PAN CARD / PASSPORT/AADHAR.
The document must have Applicant and his Father’s full name along with Photograph of the Applicant and his Date of Birth.
 
  1. PROOF OF ADDRESS (PRESENT ADDRESS): Passport, Aadhar Card, Voter Identity Card, Driving License and other documents as may be allowed by MCA.
SIGNATURE:

The Form has TO BE DIGITALLY SIGNED by the APPLICANT himself using his CLASS 2 – DIGITAL SIGNATURE.

It should be noted that before filing the form the DSC should be registered via ROLE CHECK with MCA.

NOTE: Any discrepancy may lead an action against the person u/s 448 of the Companies Act, 2013 under relevant provisions of the Indian Penal Code, 1860.

CERTIFICATION:

This form should be CERTIFIED AFTER VERIFICATION OF THE DOCUMENTS IN ORIGINAL by the CA/CS/CMA in practice.

NOTE: Both the Applicant and Professional are advised to keep a copy of the forms and documents file with MCA permanently.

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