Mandatory Filing of Form DIR 3 KYC for Directors

As per the new guidelines issued by the Ministry of Corporate Affairs (MCA), it is now mandatory to conduct KYC (Know Your Customer) for every person holding a Director Identification Number (DIN). Starting from the financial year 2019-20 onwards, all directors with an approved DIN, including disqualified directors, are required to file Form DIR-3 (Know Your Customer).

What is Director Identification Number (DIN)?

Director Identification Number (DIN) is a unique identification number assigned to individuals who wish to become directors or are already directors of a company. It has a lifetime validity.

What is Director KYC Form?

Form DIR 3 (Know Your Customer) is a form that needs to be filed by every director who has been allotted a DIN. It is mandatory for all directors, irrespective of their qualification or disqualification status. Additionally, if there are no updates required in their details, DIN holders who have submitted the DIR-3 (Know Your Customer) e-form in the previous financial year can use the DIR-3-(Know Your Customer)-WEB form.

Who Should File Director KYC Form?

All DIN holders are required to file Form DIR 3 (Know Your Customer) every year.

What is the Due Date for Filing Director KYC Form?

Every individual who holds a DIN as of 31st March of a financial year must submit their KYC on or before 30th September of the immediately next financial year.

Requirement of Filing Director KYC Form:

Starting from the financial year 2019-20, every director who has been allotted a DIN on or before the end of the financial year and whose DIN status is ‘Approved’ must file Form DIR-3 (Know Your Customer) before 30th September of the immediately next financial year.

Consequences of Non-Filing:

If a director fails to file the DIR 3 (Know Your Customer) e-Form or DIR 3 (Know Your Customer) web within the due date on the MCA 21 portal, their DIN will be marked as ‘Deactivated due to Non-filing of DIR-3 (Know Your Customer)’. A penalty of INR 5,000/10,000 will be imposed if filed after the due date.

Why Choose Simplemyfiling for Director KYC Form Services?

Simplemyfiling.com is a team of highly qualified professionals, including CAs, CSs, lawyers, and business administrators. We offer a comprehensive range of services, including activating disqualified DINs, filing DIR 3 (Know Your Customer) forms, and new DIN applications. Additionally, we provide services such as start-up advisory, secretarial compliance, PAN/TAN application, GST registration, trademark registration, GST/income tax return filing, and more. For a free consultation and to learn more about our services, please contact our compliance manager at 9178663478 or email us at Simplemyfiling@gmail.com.