DIR-3 KYC

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DIR-3 KYC

Any person intending to become the director in a company is required to make an application to MCA for allotment of a unique identification, namely, Director Identification Number (DIN) through this eForm.
As part of updating its registry, All the Directors of all companies shall annually do KYC through a new eform viz. DIR-3 KYC.  Accordingly, every Director who has been allotted DIN on or before 31st March 2018 and whose DIN is in ‘Approved’ status, would be mandatorily required to file form DIR-3 KYC on or before 30 th September of every year.

Procedure of DIR-3 KYC

1
KYC through e-Form DIR-3 KYC

Any DIN holder who is filing his KYC details for the first time with MCA must file all KYC details only through e- Form DIR-3 KYC. There is no option for such a person to access the web service for his KYC. Further, any DIN holder who wants to update any information of his KYC details must update the same through the filing of e-Form DIR-3 KYC only. Please note that no update in details can be made by accessing the web service for DIR-3 KYC.

2
KYC through DIR-3 KYC web-services

Any DIN holder who has already submitted e-Form DIR-3 KYC in any of the previous financial years and who does not require an update in any of his KYC details as submitted may perform his annual KYC by accessing the DIR-3 KYC web service.

Documents Required for DIR-3 KYC

DIR-3 KYC Registration - Basic:

  • Proof of Identity of applicant In case of Indian nationals -Income-tax PAN
    In case of foreign nationals- Passport is a mandatory
    Proof of identify enclosed with e-Form DIR-3 should also contain the date of birth of the applicant and the same should match the date of birth filled in the application form. In case the proof of identify does not indicate the Date of Birth then additional proof of Date of Birth, duly certified/ attested, should be attached.
  • Proof of residence of applicant Address proofs like passport, election (voter identity) card, and ration card, driving license, electricity bill, telephone bill or aadhaar shall be attached and should be in the name of applicant only.
    In case of Indian applicant, documents should not be older than 2 months from the date of filing of the eForm.
    In case of foreign applicant, address proof should not be older than 1 year from the date of filing of the eForm.

Due Date

As per the provisions of Rule 12A of the Companies (Appointment and Qualification of Directors) Rules, 2014, every individual who is allotted DIN as of 31st March of a financial year must submit his KYC on or before 30th September of the immediately next financial year. Penalty: If the DIN holder does not file his annual KYC within the due date of each financial year, such DIN shall be marked as ‘Deactivated due to non-filing of DIR-3 KYC and shall remain in such Deactivated status until KYC is done with a fee of Rs.5000.

Eligibility Criteria of DIR-3 KYC

Seven Members
A minimum of seven members is required to form a Nidhi company. Out of these, three should be designated as the directors. However, it should acquire a minimum of 200 members within one year of commencement.
Share Capital
Further, the company must have a share capital of at least Rs 5 lakhs to register as a Nidhi company. This entire amount has to be paid up. However, the Net Owned Funds (NOF) must be increased to Rs 10 lakhs within a year of registration.
Outstanding Deposits
At least 10% of its outstanding deposits should comprise of un-encumbered term deposits
NOF to Deposit
The prescribed ratio of NOF to deposit should be 1:20, where 10% of the total deposits are in a fixed deposit account of a nationalised bank.

FAQs

Q. Is it mandatory to enter a unique mobile number and email ID in form DIR-3 KYC?
Yes. It is mandatory to enter your personal mobile number and personal email ID in the form DIR-3 KYC and the same has to be verified by an OTP process. Further, the mobile number and email ID must be unique such that it is not already linked with some other person in the DIN holders’ database.
Q. Details of Signatories in DIR-3 KYC?
The DIN holder and a professional (CA/CS/CMA) certifying the form are the two signatories in form DIR-3 KYC. Please note that in the case of Citizens of India, the PAN mentioned in the DSC is verified with the PAN mentioned in the form. In the case of foreign nationals, the name in the DSC affixed should match with the name entered in the form. DSCs affixed on the form should be duly registered on the MCA portal. Advertisement
Q. What is the fee for form DIR-3 KYC?
Form DIR-3 KYC, if filed within the due date of the respective financial year, no fee is payable. However, if filed after the due date, for DIN status ‘Deactivated due to non-filing of DIR-3 KYC a Fee of Rs.5000(Rupees Five Thousand Only) becomes payable.
Q. If DIN status is Deactivated so, can a director file form DIR-3 KYC?
Form DIR-3 KYC can be filed for status ‘Deactivated due to non-filing of DIR-3 KYC’ on payment of fee as above.

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