The Ministry of Corporate Affairs (MCA) has notified on 5th of July, 2018 an Annual filing of "DIR-3 KYC" - A form for Application for KYC of Directors as a part of updating its registry and conducting KYC of the Directors on a regular basis.

One can follow the below-given guidelines for filing the form and completing the KYC with MCA -

Applicability

Filing of the form DIR-3 KYC is applicable to all the Directors holding a DIN which is approved by the MCA on or before March 31, 2018 irrespective of whether one is currently a director of any company or not or has been disqualified u/s 162 (2) of the Companies Act, 2013 or not.

Due Date of Filing of the form

The form shall be filed with MCA on or before August 31, 2018, failure of which would lead to deactivation of the Director's DIN by MCA.

Fees

If the Form is filed on or before August 31, 2018, no fees is payable on submission of the form. If the Form is filed after August 31, 2018 an amount of INR 5,000 is payable when submitting the form.

Finalising the KYC forms for your DSC

Documents required

The Documents required to be attached under the form will vary according to Nationality of the Director as follows:

A. If the Director is an Indian National:

(1) Self-attested copy of PAN Card

(2) Self-attested copy of Aadhar Card

(3) Self-attested copy of Passport (if the Director is a valid holder of one)

(4) Self-attested copy of Latest Residential proof (any one of Electricity bill/Mobile Bill/Driving License/Bank Statement)

B. If the Director is an Indian National but Foreign Resident:

(1) Self-attested copy of PAN Card

(2) Self-attested copy of Aadhar Card

(3) Self-attested copy of Passport

(4) Self-attested copy of Indian Residential proof (any one of Electricity bill/Mobile Bill/Driving License/Bank Statement)

(5) Self-attested copy of Foreign Residential proof (any one of Electricity bill/Mobile bill/Driving License/Bank Statement or any other Government issued document of the country which the Director is presently resident of and such proof shall be attested by the Consulate of Indian Embassy or Foreign Public Notary)

C. If the Director is a Foreign National:

(1) Self-attested copy of Passport (Duly notarized and apostilled in the country of the Director)

(2) Self-attested copy of Latest Residential proof (any one of Electricity bill/Mobile Bill/Driving License/Bank Statement duly notarised and apostilled in the country of the Director)

Important points to be noted

One must keep in mind the following important points -

(1) Download the form from the website of the MCA and enter DIN and pre-fill the form. Once the form is pre-filled, enter all the requisite details according to the PAN or in case of Foreign National not having PAN, according to the DSC (Digital Signature).

(2) The Form is required to be digitally signed by the Director only. Hence, each Director must have a valid DSC duly registered with the MCA.

(3) The Director is required to mention their personal email id and mobile number in the form which shall be duly verified by an OTP sent on both email id and mobile number of the director. Hence each DIN will require a unique email id and mobile number of the Director to be submitted.

(4) Such OTP shall be sent only for a maximum of 10 times in one day and twice in a span of 30 minutes.

(5) The Form DIR-3 KYC will be mandatorily required to be certified by a Practicing Company Secretary/Chartered Accountant/Cost Accountant.

(6) The Form will be processed by the MCA in STP mode which means an approval email will be sent to the director immediately upon the filing of the form.

(7) Non-filing of Form DIR-3 KYC will result in deactivation of the DIN.

(8) If the DIN is deactivated due to non-filing of the form DIR-3 KYC, such DIN will be activated only by payment of INR 5,000 as penalty along with the filing of the DIR-3 KYC.

For any queries feel free to reach out to me at cs@wealthcafe.biz.