To have an updated registry and KYC of all the individuals to whom MCA has allotted Director Identification Number (DIN), MCA has decided to conduct KYC of all those individuals, annually. Central Government vide notification no GSR 615(E) dated 5th July 2018 has amended the Companies (Appointment and Qualification of Directors) Rules, 2014 and inserted rule 11(2), 11(3) and 12A to have updated KYC information of individuals.
♦ Every individual having allotted DIN, need to file e- form DIR-3 KYC on MCA portal on or before the specified due date as under:
a. For financial year 2017-18 – Every Director who has been allotted DIN and has approved status on or before 31st March, 2018 – 31st August 2018
b. For subsequent financial years – Every Director who has been allotted DIN on or before 31st March of a financial year – 30th April of next financial year
♦ Form require general information like DIN, PAN, email, mobile number etc. and proof of addresses of the individual.
♦ Form has to be digitally signed by individual who is filing the application.
♦ Form is required to be digitally certified by a Chartered Accountant/ Cost Accountant or Company Secretary in whole-time practice regarding its correctness.
The consequences on non-compliance
Consequences of non-submission of DIR-3
1. Deactivation of DIN of that individual – Director will not be able to make any compliance with his DIN even taking up a directorship.
2. DIN will be re-activated only on filing of DIR-3 with a fee of Rs. 5,000/-“