DIR-3 KYC with Amended provisions

What is DIR-3 KYC with Amended provisions?

As per rule 12A of the Companies (Appointment and Qualification of Directors) Rules 2014, “Every individual who has been allotted a Director Identification Number (DIN) as on 31st March of a financial year as per these rules shall, submit e-form DIR-3-KYC to the Central Government on or before 30th April of immediate next financial year.

Provided that every individual who has already been allotted a Director Identification Number (DIN) as at 31st March, 2018, shall submit e-form DIR-3 KYC on or before 5th October, 2018.”

Points to be consider while Filing DIR-3 KYC

1. Unique Personal Mobile Number and Personal Email ID would have to be mandatorily indicated and would be duly verified by One Time Password (OTP).

2. The form should be filed by every Director using his own DSC and should be duly certified by a practicing professional (CA/CS/CMA).

3. Certified True of PAN, Aadhar and Passport if any needs to be attached which should also be certified by the practicing professional.

The interesting thing about the form DIR-3 KYC is that Filing of DIR-3 KYC would be mandatory for Disqualified Directors also.

After expiry of the due date by which the KYC form is to be filed, the MCA21 system will mark all approved DINs (allotted on or before 31st March 2018) against which DIR-3 KYC form has not been filed as ‘Deactivated’ with reason as ‘Non-filing of DIR-3 KYC’ and late filling penalty shall be Rs. 5000/-

UPDATION:

 General Circular No. 07/2019 Dated: 27.06.2019 by Ministry of Corporate Affairs:

According this circular the Annual filing of KYC is Mandatory and Now with this Simple Procedure:

The form is presently being modified to enable pre-filling of data & information so that annual filings can be done by DIN holders in a simple and user friendly manner:

• DIR-3-KYC for financial year 2019-20 that DIR-3-KYC is not required to be filed every year instead of DIR-3 KYC we needs to file Web based certification.
• Every person who has already filed DIR-3 KYC will only be required to complete his/her KYC through a simple web-based verification service, with pre-filled data based on the records in the registry, for ease of verification by the person concerned.
• However, in case a person wishes to update his mobile no. or e-mail address, he would be required to file e-form DIR-3 KYC, as this facility of updation is not being proposed in the web-based service.
• In case of updation in any other personal detail, e-form DIR-6 may be filed for updation of the same before completion of KYC through the web-based service.

IMPORTANT POINTS TO BE NOTED:

• Filing DIR-3 e-KYC for Financial Year 2018-19  is mandatory even for person who has already filed DIR-3 KYC for the year 2017-18.
• DIR-3 e-KYC for Financial Year 2018-19 is a web based verification process where there no change in mobile no. or e-mail address.
• In case there is a change in mobile no. or e-mail address, the DIN holder to file e-form DIR-3 KYC also, DIR-6 for updating of change in particulars.
• Due date for filing DIR-3 e-KYC for Financial Year 2018-19 shall be 30th September 2019

DISCLAIMER: THE ARTICLE IS BASED ON THE RELEVANT PROVISIONS AND AS PER THE INFORMATION EXISTING AT THE TIME OF THE PREPARATION. IN NO EVENT I SHALL BE LIABLE FOR ANY DIRECT AND INDIRECT RESULT FROM THIS ARTICLE. THIS IS ONLY A KNOWLEDGE SHARING INITIATIVE.

THE AUTHOR – CS DEEPTI GUPTA (ASSOCIATE PARTNER-HELPINGHANDS PROFESSIONALS LLP) AND CAN BE REACHED AT CONTACTHHPRO@GMAIL.COM OR 9910248911.