Filing of KYC by All Directors on Annual Basis

23 Jul,2018

As part of updating its registry Ministry of Corporate Affairs (MCA) has provided for filing of KYC by all directors on an Annual Basis.  MCA has notified Companies (Appointment and Qualification of Directors) Fourth Amendment Rules 2018 on July 5th 2018, which will come into effect from July 10th 2018. Form DIR-3 KYC has been notified for the purpose.

Below is the FAQ on this compliance :

Who is required to file DIR-3 KYC ?

Every person holding a DIN  on the last day of financial year is required to file a DIR-3 KYC. Even if a person is holding DIN and not  a director in any of the companies, he/ she is required to file DIR-3 KYC.

What is due date? What is extended due date for financial year ending March 31st 2018 ?

Due is date is April 30th of following financial year. For Financial year ending March 31st 2018, due date has been extended to August 31st 2018.

Consequence of not filing DIR-3 KYC? How to rectify non-compliance?

If the DIR-3 KYC is not filed within due date, DIN would be marked as deactivated, and no filing will be allowed with such DIN. To remove the defect DIR-3 KYC need to filed with late fee upon which DIN would activated.  Late fees has been prescribed at Rs 5,000/-

Who has to Certify Form DIR- 3 KYC ?

Form DIR 3 KYC need to be certified by DSC of Director  and DSC of Practicing Professional.

What are the KYC Documents :

i Photo in JPEG format.

ii. Proof of Identity- self attested :

  1. PAN Card Copy ( In case of Indian National)
  2. Passport copy ( In case of Foreign National)

iii. Proof of Residence – self certified – any of following

  1.   Aadhar card
  2. Passport
  3. Driving License
  4. Voters ID
  5. Electricity Bill
  6. Telephone bill

iv. Valid Person Email id and Mobile No. Same will be verified by OTP.

Filing your KYC could be hasslesome and time consuming. Mr. Anil D'Souza of ADCA, a higly qualified CA in Bangalore, can help you with that.

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