KYC of Directors:-

Online Application

DIN is obtained by completing eForm DIR-3, which was designed to be a one-time process for anybody desiring to become a director of one or more businesses. Our experts will guide you through the application procedure

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Form DIR-3 KYC - Application for KYC of Directors

In this digital age, completing eForm DIR-3 was sufficient to receive DIN. This was a one-time process for anyone interested in becoming a director in one or more corporations. However, with the MCA's decision to update its registration, all directors having a DIN will be required to submit their KYC data yearly in eForm DIR-3 KYC.

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What is DIN number?

A director identification number (DIN) is a one-of-a-kind identifier issued to a person who aspires to become or is currently a director of a corporation. DIN is obtained by completing eForm DIR-3, which was designed to be a one-time process for anybody desiring to become a director of one or more businesses.

However, due to a change to the MCA's registration, all directors with DIN are now obliged to submit their KYC data in e-Form DIR 3 KYC once a year

The Form DIR-3 KYC serves the following purposes:

Every director must notify all businesses in which he or she is a director of the DIN assigned to him or her in Form DIR-3B within 30 days of receiving notification of DIN approval. Similarly, the Secretary and Manager of a corporation must provide the corporation with their Income-tax Permanent Account Number (PAN). The firm must provide further information regarding the directors' DIN to the Registrar in Form DIR-3C within 15 days of receiving the notification.

Who is required to submit eForm DIR-3 KYC?

According to a recent MCA notice, every director who was assigned a DIN by or on March 31, 2018, and whose DIN is in authorized status, would be required to submit his KYC data to the MCA. This procedure is also required for disqualified directors.

From fiscal year 2019-20 onwards, any director who has been assigned a DIN on or before the end of the fiscal year and whose DIN is in authorized status is required to complete form DIR-3 KYC by the 30th September of the immediately following financial year.

Checklist for filing the eForm DIR-3 KYC:

Each Director's unique personal mobile phone number and email address must be given when submitting the eForm. An OTP (one-time password) will be used to validate this number and email address.
The second check is that the director must use his own digital signature when submitting this eForm.
The eForm should also be validated by a professional Chartered Accountant, Company Secretary, or Cost and Management Accountant as the third test to guarantee that complete and correct information is submitted.

Consequences of failing to file eForm DIR-3 KYC by the Due Date

If a director who is obliged to file the e-Form fails to do so by the 30th of September on the MCA site, the department will label the director's DIN as 'Deactivated owing to Non-filing of DIR-3 KYC'. If the director intends to reactivate his DIN in the future by submitting the missing eForm DIR-3 KYC, he must pay a late charge of Rs 5,000. This charge is due on or after September 30th of the year in which the eForm DIR-3 is to be filed. The directors must file this document on a yearly basis.

Step-by-Step Instructions for Filing Your DIR - 3 KYC

Let's go over the processes needed in submitting a DIR-3 KYC:

Download the form

The first step would be to download the form the MCA website.

Provide DIN information

The individual/Director must submit his DIN in the KYC form, the status of which is ‘Approved’. Directors whose DIN has been deactivated owing to non-submission of the KYC may resubmit the form beyond the due date by paying late filing costs.

Fill out the DIR- 3 KYC Form with the necessary information given below:

Name and necessary qualifications:

The candidate must give his and his father's first and last names. The name submitted must correspond to the one listed in the PAN. The address provided here will be checked against the PAN database. Acronyms, abbreviations, and single alphabets are not permitted.

Nationality:

You must declare your nationality. In the event of foreign nationals serving as business directors, the nationality as stated on the passport shall be chosen.

Declaration of age:

A person must give his or her date of birth in the format DD/MM/YYYY. While filling out this application, a person must be at least 18 years old.

Address:

When completing the form, you must include your permanent living address. Check that these facts correspond to the evidence of permanent address that will be included. Only if the state chosen is NA may a foreign pin code be input. If your current residence address differs from your permanent residential address, you must also give your current residential address.

PAN Verification:

You must disclose your Permanent Account Number (PAN). After you've entered your PAN information, click the 'Verify income-tax PAN' button. The system will next validate your information using the PAN card number. Please keep in mind that the PAN entered in the form and the PAN entered in the DSC must be the same for validation to be successful. If the foreign nationals do not have a PAN, the name on the form must match the name on the DSC for validation to be successful.

Contact Information Updates and OTP Verifications:

It is critical to input your personal mobile phone number, which will be validated using an OTP. Other than +91/91/0 country codes will be permitted only if the individual is not a resident of India. Similarly, you must enter your personal email address, which will be validated by an OTP. After entering this information, click the 'Generate OTP' button. OTPs will be delivered to your cellphone number and email address separately.

Certification of e-Forms

Ensure that the eForm is digitally signed by a Chartered Accountant/Cost Accountant or a Company Secretary in practice. It is critical to enter the practicing professional's information and then attach their digital signature.

After proofreading well, click the 'Submit' button.

[Note: Our Chartered Accountant will help you with all the Compaliances for the application of DIR-3 KYC]

Following the submission of the form, further next steps:

SRN Creation

After successfully submitting the eForm DIR-3 KYC, the user will be assigned an SRN. This SRN will be used in future communications with the MCA.

Email correspondence

An email will be sent to the applicant's personal email address confirming receipt of the form. Filing eForm DIR-3 KYC is complete after the approval email is received.

Documents Required for Payroll Management:

Nationality and citizenship information, such as gender and date of birth
Permanent Account Number
Voter card
Passport (required if a foreign national holds a DIN)
Driving Permit
Aadhaar card
Personal phone number and email address
Residential address
Digital signature of Individual filing the form (applicant).
Attestation of the documents mentioned above from Practising Professionals such as CA, CS, or Cost Accountants. In the case of Foreign Nationals, documents need to be attested by the prescribed authority.

FAQs on KYC for directors services

Question: Can non-resident directors offer mobile phone numbers in India?
Answer: Only a foreign address and a foreign number are authorized if the DIN bearer is a non-resident.

Question: Is it necessary for a disqualified director to file form DIR-3 KYC?

Answer: Yes. Anyone who has been assigned a DIN and whose DIN status is 'authorized' must submit form DIR-3 KYC. As a result, disqualified directors are also required to complete form DIR-3 KYC.

Question: How does the OTP functionality in DIR-3 KYC work?

Answer: The 'Send OTP' button will be available only if the form has been properly pre-screened. After passing the Pre-scrutiny, the user must click the 'Send OTP' button.

Question: Is it permissible to file DIR-3 KYC several times?

Answer: The system will not enable an applicant to submit DIR-3 KYC form more than once. If KYC for a DIN has previously been filed and that DIN is input again, the system indicates that the form has already been filed.

Question: Who is needed to complete the DIR-3 KYC form?

Answer: Every Director who received a DIN on or before the end of the fiscal year and whose DIN status is 'Approved' must complete form DIR-3 KYC by September 30th of the following fiscal year.