Director KYC
Director KYC
Compliance of ROC Work
1. Filing of MSME Return
2. Filing of DPT-3
3. Director KYC
4. ADT-1
5. AOC-4
6. MGT-7…etc various things
Director KYC
Director KYC
Director KYC (Know Your Customer) refers to the process of verifying and updating the information of directors of a company. In India, the Ministry of Corporate Affairs (MCA) has mandated the annual filing of the DIR-3 KYC form for all directors of companies, which is part of the compliance requirements under the Companies Act, 2013. The objective is to maintain an up-to-date and accurate database of directors.
Here are the key points related to Director KYC in India:
1. DIR-3 KYC Form:
– Directors are required to file the DIR-3 KYC form annually to provide updated information to the government.
2. Applicability:
– The filing of DIR-3 KYC is applicable to all directors who have been allotted Director Identification Number (DIN) as of March 31st of the financial year.
3. Due Date:
– Due date for filing DIR-3 KYC is typically on or before September 30th of each financial year. However, it’s essential to check for any changes in the due date through official notifications.
4. Verification Process:
– Form requires directors to provide details such as personal information, address, contact details, and PAN (Permanent Account Number). The information provided in the form needs to be verified through a digital signature.
5. Penalties for Non-Compliance:
– Failure to file the DIR-3 KYC form within the specified due date may attract penalties. Directors are encouraged to comply with the filing requirements to avoid any legal consequences.
6.Electronic Filing:
– The filing of DIR-3 KYC is done electronically on the MCA portal. Directors need to log in using their DIN and complete the KYC process.
7. Documentary Requirements:
– Directors may need to provide documents such as Aadhaar card, PAN card, and utility bills for address verification.
8. Verification by Professionals:
– Directors may seek assistance from professionals, such as company secretaries or chartered accountants, to ensure accurate filing and compliance with regulatory requirements.
9. Obligation of Companies:
– Companies are obligated to ensure that their directors comply with the annual filing of DIR-3 KYC. This may involve facilitating the process and providing necessary support.
Important Note:
It’s crucial to stay updated with the latest regulations and notifications issued by the Ministry of Corporate Affairs as compliance requirements may change.
Who has to file e-Form DIR-3 KYC : –
· As per MCA recent announcement, any director who was allotted a DIN by or on 31st March 2018 and whose DIN is in approved status, will have to submit his KYC details to the MCA. Further, this procedure is mandatory for the disqualified directors too.
· From the Financial Year 2019-20 onwards, it is mandatory for every director who has been allotted a DIN on or before the end of the financial year and whose DIN is in approved status, will have to file form DIR-3 KYC before 30th September of the immediately next financial year.
· For example– For the Financial Year 2022-23, the directors having DIN or Director Partner Identification Number (DPIN) and the directors allotted with a DIN/DPIN by 31st March 2023, need to file the e-Form DIR-3 KYC before 30th September 2023.
Checkpoints for filing the e-Form DIR-3 KYC:-
· Every Directors unique personal mobile number and email address will have to be provided while filing the e-Form.
· This number and email address will be verified by an OTP (one-time password).
· The second check implanted here would be that the director has to use his own digital signature while filing this e-Form.
· Further, the third test to ensure that complete and right information is provided will be that the e-Form should be certified by a practising Chartered Accountant or Company Secretary, or Cost and Management Accountant.