Attention Directors! File DIR-3 KYC with MCA Before August 31

MCA is conducting KYC drive for all Directors of all companies through a new e-form viz. DIR-3 KYC. Director’s KYC drive through the e-form DIR-3KYC will be operational starting 10th July 2018. 

Every Director who has been allotted a Director Identification Number (DIN) on or before 31st March 2018 and whose DIN status is ‘Approved’ must file DIR-3KYC form. Due date of filing DIR-3KYC form is on or before 31st August 2018.

• Unique Personal Mobile Number and Personal Email ID has to be filed with the KYC form. Director will receive an OTP on Email ID and Mobile Number.
• DIR-3 KYC must be certified by the DSC of Director and DSC of practicing professional i.e. CA/CS/CMA
• Even Disqualified Directors will have to File DIR-3 KYC mandatorily.

Penalty Non-Filling of DIR-3 KYC

If any director fails in filling of DIR-3 KYC on the MCA21 system. MCA will mark all such approved DINs (allotted on or before 31st March 2018) as ‘Deactivated’ against which DIR-3 KYC form has not been filed with reason as ‘Non-filing of DIR-3 KYC’

If the DIR-3 KYC form is filled after 31^st August, the director will not be allowed to file the form unless specified fee is paid by the applicant in respect of such deactivated DINs, without prejudice to any other action that may be taken.

The fees notified by MCA is ‘Nil Fee’ for the forms filed before 31^st August 2018 and ‘Delayed Fee of Rs. 5,000’ for Filing e-Form DIR-3 KYC under rule 12A of the Companies (Appointment and Qualification of Directors) Rules, 2014, applicable w.e.f. 10 July 2018

Format of DIR-3 KYC, the new e-form has been notified by the MCA under new Rule 12A also with procedure for restoration of deactivated DINs of Directors, applicable w.e.f. 10 July 2018

Right from the exercise of striking off companies to DIN KYC, the overall objective of the government is to cleanse the MCA data and remove all the dummies. Now with Aadhaar playing a key role, a simple link between Aadhaar – PAN – DIN can be established and fake/ non-active DINs shall be deactivated.

New India expects its corporate to be fully and timely compliant therefore, do not wait for the last day and file your forms as soon as possible. If your DIN gets deactivated, you might not be able to file annual return for your company with MCA.