{"id":10128,"date":"2018-07-27T16:32:45","date_gmt":"2018-07-27T11:02:45","guid":{"rendered":"https:\/\/enterslice.com\/learning\/?p=10128"},"modified":"2019-05-28T12:58:02","modified_gmt":"2019-05-28T07:28:02","slug":"dir-3-kyc-form","status":"publish","type":"post","link":"https:\/\/enterslice.com\/learning\/dir-3-kyc-form\/","title":{"rendered":"What is Director KYC (DIR-3 KYC) and Procedural Norms of Filing E-Form DIR-3 KYC With MCA?"},"content":{"rendered":"

Before starting with DIR-3 KYC, it is important to get knowledge of some important terms. First, we will discuss the term DIN (Director Identification Number)<\/strong>. As its name suggests DIN (Director Identification Number) is 8 digits unique identification number for directors and it is required to be obtained by every individual who intends to become a director in a company.<\/p>\n

Now we will come to the term KYC <\/strong><\/a>which stands for “<\/strong>Know your Custome<\/strong>r”<\/strong>. Director KYC has been introduced by the government in order to reconfirm the identity of directors.<\/p>\n

Introductory Norms of E-form DIR-3 KYC<\/strong><\/h2>\n

Recently MCA (Ministry of Corporate Affairs) has introduced the new e-form DIR-3 KYC as per Rule 12A ‘Companies (Appointment and Qualification of Directors) Fourth Amendment<\/a> Rules 2018<\/strong>, via a notification dated 05th<\/sup> July 2018 and came into effect from 10th<\/sup> July 2018. Along with this, MCA (Ministry of Corporate Affairs)<\/a> has notified the restoration procedure for deactivated DIN (Director Identification Number) of the directors.<\/p>\n

Why has E-form DIR-3 KYC been introduced by the Central Government?<\/h2>\n

E-form DIR-3 KYC has been introduced with a view to collect information of directors of all the companies consisting their address, e-mail ID, and current mobile number. Provided information given by the directors must be related to them, for example, the mobile number must be updated with UIDAI. This step has been taken in order to create the transparency of information. This will help MCA in verifying credentials of directors and weed out the bogus directorships.<\/p>\n

Before this, the government has taken strike-off (Company dissolution) action against more than 3 lakh companies because of which more than 6 lakh directors got directly impacted and their DIN got disqualified. By introducing this new rule 12A, it is required to update DIN (Director Identification Number) for all the directors and all designated partner of all the LLPs to comply with the rule, no matter their DIN is active or inactive and directors who’re having disqualified DIN.<\/p>\n

Who is required to file e-form DIR-3 KYC?<\/strong><\/h2>\n

Every director \/ designated partner holding DIN (Director Identification Number) as on 31st<\/sup> March of the financial year has to file e-form DIR-3-KYC on or before 30th April of next immediate financial year.<\/p>\n

In case DIN was allotted as on 31st<\/sup> March 2019 then DIN holder has to file form DIR-3 KYC on or before 30th<\/sup> April 2019.<\/p>\n

Provided if DIN has been already obtained as on 31st<\/sup> March 2018 then E- form DIR-3 KYC is required to be filed on or before 31st<\/sup> August 2018<\/p>\n

Note* <\/em><\/strong>It has to be filed even if the DIN is inactive or director having disqualified DIN. <\/em><\/p>\n

What is the due date of DIR-3 KYC?<\/h2>\n

Due date of filing of DIR-3KYC is 30th April of Immediate Financial Year however if the DIN has been obtained on or before 31st<\/sup> March 2018 then the due date is 31st<\/sup> August 2018.<\/p>\n

What are the documents required to file E-form DIR-3 KYC?<\/strong><\/h2>\n

Following documents shall be required to file E-form DIR-3 KYC:<\/em><\/p>\n