KYC of Directors (DIR-3KYC) (Mandatory on Yearly Basis)
DIR-3 KYC(First Time KYC or Inactive DIN)
₹
1,000/-*
₹
DIR-3 KYC (Web)[No Change in KYC Details]
₹
500/-*
₹
- Statutory Fees including Additional Fees, Penalty in course of Filing of DIR-3KYC is not included in the above amount.
- Any advice given to the Client is only an opinion based on our knowledge of the Client’s particular circumstances.
- The client will be responsible for verifying the information contained in such returns and/or filings prior to approving/signing such return/filing.
- Fees Should be paid according to conversation held between the Legal Parivar Team and Client.
FORM DIR-3 KYC & DIR-3 KYC(Web)
The Director Identification Number (DIN) is a distinctive identification assigned to individuals aspiring to become directors or existing directors of a company. In the digital age, obtaining DIN was a one-time procedure achieved through the submission of e-Form DIR-3 for anyone seeking directorship in one or multiple companies.
However, in a recent initiative by the Ministry of Corporate Affairs (MCA) to enhance its registry, directors possessing a DIN are now required to annually furnish their KYC details through e-Form DIR-3 KYC.
Who has to file e-Form DIR-3 KYC?
According to the recent announcement from MCA, directors who received a DIN on or before March 31, 2018, and have an approved status must provide their KYC details to the MCA. This requirement is obligatory even for directors who have been disqualified.
Starting from the Financial Year 2019-20, directors with an allotted DIN on or before the conclusion of the financial year, and whose DIN is in approved status, must submit form DIR-3 KYC before September 30 of the immediately following financial year.
There are Two Types of e-Form DIR-3 KYC, outlined as follows:
- DIR-3 KYC: This form is to be filed by any director submitting e-Form DIR-3 KYC for the first time post-DIN allotment, or if there is a need to update/change their details.
- DIR-3 KYC (Web): This form is applicable to directors who have previously filed either e-Form DIR-3 KYC or DIR-3 KYC (Web) in the preceding year, and there are no changes in their KYC details. In this e-Form, the director’s fundamental details are auto-populated from the MCA data and, therefore, cannot be altered.
Consequences of Non Filing
Failure to submit e-Form DIR-3 KYC by the specified deadline can result in significant consequences. If a director neglects to file the form on the MCA 21 portal by September 30, the department will designate the DIN of that director as ‘Deactivated due to Non-filing of DIR-3 KYC.’
Should the director decide to reactivate the DIN in the future, it can be done by submitting the overdue e-Form DIR-3 KYC, accompanied by a late fee of Rs 5,000. This fee becomes applicable on or after September 30 of the respective year in which the e-Form DIR-3 KYC (Web) is required to be filed. It is essential for directors to file this form on an annual basis.