Mandatory KYC of Directors To Be Done Before 31st August 2018?

We all know that the ministry of corporate affairs regulates companies in India is taking many steps to stop the close the bogus and inactive companies. With the same aim of removing not active or disqualified directors the department wants directors to fill one form for KYC.

ROC already issued notices to companies which are not active, but main problem with these companies are they don’t have any accurate communication details of directors, now MCA has issued one form which need to submit by all director with some documents and one unique phone number and mail id. More information on roc filing on https://www.ovakil.com/Annual-Compliances-for-PVT.

ROC issued notices to Companies concerned but not informed directors associated with them because ROC doesn’t have any database of individual directors. So, as a part of creating database of directors consisting mobile number, email Id and residential address of Directors, MCA issued a new form which is required to be filled every year by every DIN holder.

WHAT IS FORM DIR-3 KYC?

Form DIR 3 KYC is to be filled by every director to the ROC even regardless he is appointed as a director or not, whether he is qualified or disqualified. DIR-3 KYC is introduced vide MCA notification dated 05th July 2018 by which Companies (Appointment and Qualification of Directors) Rules, 2014 been amended by release of Companies (Appointment and Qualification of Directors) fourth Amendment Rules, 2018.

LAWS GOVERNING PROVISIONS

E-Form DIR-3 KYC is required to be filed pursuant to Rule 12A and Rule 11(2) and (3) of the Companies (Appointment and Qualification of Directors) Rules, 2014.

Rule 12A

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 (ROC) on or before 30^th April of immediate next financial year.

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

CONSEQUANCES OF NO-FILING

Rule 11(2)

The Central Government or any officer authorized by the Central Government shall, deactivate the Director Identification Number (DIN) of an individual who does not intimate his particulars in e-form DIR-3-KYC within stipulated time in accordance with rule 12A.

DIR- 3 KYC after Due date – permissible? Yes If you want to spent Rs. 5,000/-.

Rule 11(3)

The de-activated DIN shall be re-activated only after e-form DIR-3-KYC is filed along with Rs. 5,000/- additional fees.

GUIDE TO FILE YOUR KYC

1. Enter Name of Director as per PAN database

2. Enter Father’ Name (Married woman must also mention her father’s name)

3. Enter Nationality, Date of Birth, Income Tax PAN

4. Select whether do you have a Passport? If Yes, enter passport number and attach copy of passport

5. Enter Aadhar Number and attach copy of aadhar card

6. Enter Personal Mobile No and Email Id

7. Enter Permanent residential address and present residential address

8. Compulsory Attachments:

• Proof of Permanent residential address – Aadhar Can be used

• Copy of Aadhar Card

• Copy of Passport – If Having

• Proof of Present residential address – If different from permanent address

The above attachments must be self-certified by concerned DIN holder and also attested by professionals’ along with his signature and membership number.

After affixing DSC of Concerned Director and Practicing Professional (CS/CA/CWA), Pre-scrutinize the form, and then click on ‘Send OTP’ button. Please note that OTP can be successfully sent to the mobile number and email ID against one form, for a maximum of 10 times in one day and twice in a span of 30 minutes. Once, OTP received on both mobile number and email id, enter the both OTPs and click on verify OTP button. After verification, file the form and save the acknowledgement.

For more details, go here:

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