Sunday, 1 July 2018

Annual KYC by Directors in India


Annual KYC by Directors in India

So, MCA wants to check which Director is alive and which not. MCA have come up with idea to perform KYC Check for all the Directors annually in eForm DIR 3 KYC 
Now the Indian Directors who were allotted DIN earlier to 31st March 2018 are required to do Annual Check with MCA by filing one more eForm adding one more compliance by the Companies and its Directors.
Who all needs to file this eForm DIR-3 KYC?
Person who is having Valid DIN#
DIN have been allotted on or before 31st March 2018
#Even Disqualified Directors having DIN are required to perform Annual KYC Check
What is the Due date of filing KYC Check?
On or Before 31st August 2018. Please note that missing deadline would be costly as MCA will mark all those DIN as Deactivated if KYC is not done successfully.
What are the Key requirements?
Unique Personal Valid Mobile Number*
Personal Email id
Valid Digital Signature
*Verification via OTP. So, make sure that the Mobile Number you entered can receive OTP.
DIR-3 KYC notified vide Companies(Appointment and Qualification of Directors) Fourth Amendment Rules, 2018 dated 5th July 2018 would be made available shortly for filing purposes.
While filing DIR-3 KYC form, all stakeholders are requested to use PAN based DSC in case of Indian Nationals i.e., DSC should contain PAN as specified in the form.
In respect of foreign nationals, applicant's name in DSC would be matched with his/her name entered while filing the form(DIR-3 KYC).
In case the PAN /Name in DSC does not match with PAN/Name entered in the form, they would be required to get a DSC with PAN/Name as specified in the form.


It has been clarified by the MCA on 13th April, 2019 that DIN holders are required to file the DIR-3 KYC Form every year, so that they are aware of and confirm the data and information as available in the MCA21 system. MCA has mentioned that the updated version of form is under process so that filings can be done by DIN holders in a simple and user friendly manner. The revised form, which will be shortly deployed, can be filed without any fee within a period of 30 days from the date of deployment. Accordingly, DIN holders who had filed DIR-3 KYC form earlier and complied with the said provisions may kindly await the deployment of the modified form for fulfilling their compliance requirements.
To know more, please contact us at CS Neha Seth at csnehaseth@gmail.com or call us at 9871903449

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