16 Aug 2018, 13:01 — 5 min read
The Ministry of Corporate Affairs (MCA) by it notification dated July 5, 2018 has notified the “Companies (Appointment and Qualification of Directors) fourth Amendment Rules, 2018”. The rules require that every person holding DIN (Director Identification Number) must get his/her KYC updated within the due dates provided in the rules.
Here are the specifics of Director KYC and all that it entails.
Effective date of Notification: July 10, 2018.
Purpose of the Rules: To update KYC of all persons having DIN irrespective of the fact if such person is holding any directorship or not. It is pertinent to note here that disqualified directors are also required to file this form as per the time schedule given below.
Applicability: All persons whether Indian residents or NRI or foreign nationals are required to file the form with the MCA.
Filing Fees: There is no government fee for filing the form on MCA, provided that the form is being filed within the specified time limit. Or else the form shall be filed with a fee of Rs. 5,000.
Effect of non-filing: After the said due dates the DIN shall be marked as deactivated with reason “Non-filing of DIR-3 KYC”. And the person shall not be eligible to use the DIN till the KYC is completed. The deactivated DIN shall only be activated after the Form DIR-3 KYC has been filed with MCA with the fees.
Features of the Form:
1. Proof of identity: PAN Card/ Passport/ Aadhaar
The document must have applicant and his/her father’s full name along with photograph of the applicant and their date of birth.
2. Proof of address (present address): Passport, Aadhaar Card, Voter Identity Card, Driving License and other documents as may be allowed by MCA.
Signature: The form has to be digitally signed by the applicant themselves using Class 2 – Digital Signature. It should be noted that before filing the form the DSC should be registered via role check with MCA.
Note: Any discrepancy may lead an action against the person u/s 448 of the Companies Act, 2013 under relevant provisions of the Indian Penal Code, 1860.
Certification: This form should be certified after verification of the documents in originalby the CA/CS/CMA in practice.
Ensure that you do your Director KYC in time and avoid any disqualifications and penalties.
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