22 Jul 2018, 08:37 — 3 min read
Summary: In the backdrop of new MCA guidelines, it is now mandatory to conduct KYC in respect of each person who holds Director Identification Number (DIN). Here is what you need to know.
What is DIR-3 KYC?
Every individual who has been allotted a Director Identification Number (DIN) including disqualified Directors as on 31st March 2018 shall submit e-form DIR-3 KYC to the Central Government on or before 31st August 2018 without payment of ROC fees.
Who should file?
Every Director who has allotted DIN on or before 31st March, 2018
DIN Status – Approved /Disqualified
What documents are needed to file it?
The documents required are:
Self-Attested Aadhaar card (with mobile number updated)
Self-Attested Electricity Bill/ Bank statement with present address
Passport size photograph
Director Digital Signature
Are there any Government fees for filing it?
No. There are no government fees for filing of DIR-3 KYC.
I am a foreign director in an Indian company. I don’t hold Aadhaar Card. Do I still need to complete this procedure?
Yes. If you are holding a DIN, it is mandatory that you file your DIR-3 KYC. List of documents will be same as above (except Aadhaar).
What are the consequences if form is not filed on or before 31st August 2018?
If the same is filed beyond 31st August 2018, penalty of INR 5,000/- shall be levied by the Ministry. This is a mandatory penalty and cannot be avoided.
The DIN shall be deactivated. This means that you are disqualified to act as a director in any company.
Do not wait till the last moment! Act now. Stay compliant and avoid disqualification and penalties by filing in time.
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Posted byRavi Haresh Kariya
ebizfiling is a motivated and progressive concept conceived by like –minded people, which helps small, medium and large businesses to fulfill complex compliance requirements...
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