Understanding DIR-3 KYC: A Key Requirement for Company Directors.
In today’s corporate environment, staying compliant with the regulatory requirements of the Ministry of Corporate Affairs (MCA) is essential for all companies, LLP’s and their directors.
One of the key compliance requirements is the DIR-3 KYC process, which is mandatory for all directors and Designated Partners holding a Director Identification Number (DIN) or Designated Partner Identification Number (DPIN).
In this blog, we will take you through the importance of DIR-3 KYC, the filing process, required documents, and the consequences of non-compliance. Let’s dive in!
1. What is DIR-3 KYC ?
DIR-3 KYC is a form required to be filed by the directors and Designated Partners of a company or LLP to update their Know Your Customer (KYC) details with the Ministry of Corporate Affairs (MCA). The purpose of this form is to verify the identity of directors and ensure transparency in the management of companies.
It is an annual filing, ensuring that directors' and Designated Partner’s information remains current with the MCA and also serves as a medium of communication for all the government authorities including the Company itself.
2. Who Must File DIR-3 KYC ?
All directors and Designated Partners who have been allotted a DIN (Director Identification Number) or DPIN (Designated Partner Identification Number).
Directors or Designated Partners who have not updated their KYC details in the MCA portal.
Directors or Designated Partners whose DIN or DPIN is still valid but not updated for KYC will need to file the DIR-3 KYC form.
3. What are the Documents Required for DIR-3 KYC Filing ?
To complete the DIR-3 KYC process, the following documents are required:
1.PAN Card: A copy of the Director's or Designated Partner’s Permanent Account Number (PAN) card as proof of identity.
2.Photograph: A recent passport-sized photograph of the director.
3.Address Proof: Valid address proof such as:
Aadhar Card
Passport
Voter ID
Utility Bills (Electricity Bill, Water Bill, etc.)
4.Email ID: A valid email ID registered with the MCA for communication.
5.Mobile Number: An active mobile number for receiving OTPs and verification.
4. Is CA/CS/CMA Required for the process ?
It is not mandatory to get certification from CA/CS/CMA for KYC, one can do it himself however the Certification of these professional is mandatory in case of First time KYC by any director or designated Partner or when there is any change required in the Existing KYC Details of the concerned person.
At Aayojya this facility is provided at affordable and efficient rates.
5. Penalty and Deadline.
Filing Deadline: The DIR-3 KYC must be filed by 30th September every financial year.
Late Fees: If the DIR-3 KYC form is filed after the due date, a penalty of ₹5000 will be imposed.
6. What are the Consequences of Non-Compliance ?
If the DIR-3 KYC form is not filed, the DIN/DPIN will be deactivated. This means the director or designated partner will not be allowed to sign documents, file forms, or participate in company/LLP related activities until the KYC is updated. Deactivation of DIN/DPIN can create serious delays and compliance issues for the company.
7. How Aayojya Core Services Can Help You ?
At Aayojya Core Services, we specialize in helping businesses stay compliant with all regulatory requirements, including DIR-3 KYC filing. Our team of experts can guide you through the entire process, ensuring all the necessary documents are submitted correctly and on time.
We ensure that your business remains compliant, minimizing risks and maximizing efficiency.
8. Conclusion.
The DIR-3 KYC filing process is a crucial step for all company directors and LLP Designated Partners to ensure their compliance with the Ministry of Corporate Affairs. It is essential to file the form annually to keep the DIN/DPIN active and avoid penalties.
If you need assistance with DIR-3 KYC filing or any other compliance services, Aayojya Core Services is here to help. Our experienced team provides seamless and professional support for all your business needs.
Contact Aayojya Core Services
For any assistance related to DIR-3 KYC filing, or if you need help with other compliance and advisory services, feel free to reach out to us:
Aayojya Core Services Pvt. Ltd.
Phone: +91 6399535559
Email:
Website: www.aayojya.com
Our team of experts is ready to assist you with DIR-3 KYC filing and other business compliance services.
"Contact us today to ensure your company’s directors are fully compliant with DIR-3 KYC requirements!"