DIR-3 DIRECTOR KYC
Documents Required
- Form 16
- Bank Statement
- Details of Other Income
| Basic | Advance |
|---|---|
| ✔ Roc Filing | ✔ Roc Filing |
| ✔ Documentation | |
| ✔ Professional Consultancy |
Dir-3 Director KYC in India
DIR-3 Director KYC Compliance in India
Introduction
Ensuring compliance with legal requirements is paramount for businesses and directors in India. One such mandatory compliance is the DIR-3 Director KYC (Know Your Customer). Introduced by the Ministry of Corporate Affairs (MCA), the DIR-3 KYC process ensures that the details of directors are up-to-date and verified, thereby promoting transparency and authenticity in corporate governance.
In this comprehensive guide, we’ll walk you through what DIR-3 Director KYC entails, its benefits, and the step-by-step procedure for registration.
What is DIR-3 Director KYC Registration in India?
The DIR-3 Director KYC Registration is a mandatory process for all directors holding a Director Identification Number (DIN). This annual compliance requires directors to submit their KYC details to the MCA to maintain an active status for their DIN. Failure to comply can result in the deactivation of the DIN, impacting the director’s ability to legally function within an organization.
Documents Required for DIR-3 KYC Compliance
To complete the DIR-3 KYC process, directors need to submit the following documents:
- Self-attested copy of Aadhar Card
- Self-attested copy of PAN Card
- Latest passport-sized photograph
- Residential and Official Address Proof
- Personal Mobile Number and Email Address
- Digital Signature Certificate (DSC)
Benefits of DIR-3 Director KYC in India
Advantages
- Enhanced Transparency: Ensures that the details of directors are accurate and up-to-date.
- Legal Compliance: Helps directors comply with MCA regulations and avoid penalties.
- Prevent Fraud: Reduces the risk of identity theft and fraudulent activities within companies.
Disadvantages
- Time-Consuming: The process can be time-consuming, requiring careful attention to detail.
- Penalties for Non-compliance: Failure to comply can lead to penalties and deactivation of DIN.
Procedure for DIR-3 Director KYC Registration in India
Step-by-Step Guide
- Download the Form:
Download the DIR-3 KYC form from the MCA’s website.
- Fill in the DIN Details:
Enter your DIN in the KYC form. If your DIN is deactivated, you can reactivate it by filling out the form and paying the late filing fees.
- Complete Personal Details:
- Name:
Enter your first and last name as per your PAN card. Avoid using acronyms or short forms.
- Nationality:
Declare your nationality. Foreign nationals must declare the nationality mentioned in their passport.
- Age Declaration:
Enter your date of birth in DD/MM/YYYY format. Only individuals above 18 are eligible.
- Address:
Provide your permanent residential address and attach proof. If different, also provide your current residential address.
- PAN Verification:
Enter your PAN and click ‘Verify income-tax PAN’. Ensure the PAN matches the details in your DSC (Digital Signature Certificate).
- Update Contact Details and Verify OTP:
Provide your personal mobile number and email address. Verify them using OTPs sent to both.
- Attach Required Documents:
Upload self-attested copies of the required documents along with your digital signature.
- Authentication of e-Form:
The e-form must be digitally signed by a practicing Chartered Accountant, Cost Accountant, or Company Secretary.
- Submit the Form:
After thorough proofreading, click ‘Submit’. An SRN (Service Request Number) will be generated for future correspondence.
- Email Confirmation:
You will receive an email confirmation upon successful submission.
Filing DIR-3 KYC WEB
For those who have previously filed DIR-3 KYC and have no changes in their KYC details, they can use the DIR-3 KYC WEB service. Log in to the MCA portal, select DIN services, and complete the process by verifying your details via OTP.
Key Steps to Remember for DIR-3 Director KYC Registration in India
- Ensure all details match your official documents.
- Use your DSC for authentication.
- Verify contact details through OTP.
- Submit the form before the due date to avoid penalties.
Importance of Registering DIR-3 Director KYC in India
Registering for DIR-3 KYC is crucial for maintaining the active status of your DIN. It ensures compliance with MCA regulations, enhances corporate transparency, and helps prevent fraud.
Compliance and Maintenance of DIR-3 Director KYC in India
Directors must ensure their KYC details are updated annually. Any changes in contact details must be promptly reported by refiling the DIR-3 KYC form.
Eligibility Criteria for DIR-3 Director KYC Registration in India
Directors who were assigned a DIN by or on March 31, 2018, and whose DIN is in an approved status, are required to file the DIR-3 KYC form.
Conclusion
Ensuring compliance with the DIR-3 Director KYC process is vital for all directors in India. By following the outlined steps and submitting the required documents, directors can maintain their DIN’s active status and contribute to a transparent corporate environment.
For personalized assistance with your DIR-3 KYC registration, reach out to Bharat Filing Point. We are here to guide you through every step of the process.
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Company Annual Filing Pvt vs LLP
| FEATURES | Pvt | LLP |
|---|---|---|
| DOCUMENTS | Appointment of Auditor - ADT 01, INC 20 A form filing, DIR 3 KYC (For 2 directors), Accounting & Bookeeping(Upto 100 transactions), Financial statement preparation, Accounting software (1-year license), AOC 4, MGT 7 & ADT filing, Annual filing(Upto turnover of 20 lakhs), Facilitation of Annual General Meeting, Preparation of Minutes & Filing of AGM Report, GST Returns Filings (12 Months), One Year Income Tax filing(Upto turnover of 20 lakhs), Statutory regulations PF, ESI, TDS*, Payroll, PF & ESI filing (Up to 5 employees). | Form 8 & 11 filing(One year), DIR 3 KYC (For 2 directors), Accounting & Bookeeping(Upto 100 transactions), Financial statement preparation, Accounting software (1-year license), GST Returns Filings (12 Months), One Year Income Tax filing(Upto turnover of 20 lakhs), Statutory regulations PF, ESI, TDS*, Payroll, PF & ESI filing (Up to 5 employees). |
| Time | 7-9 working days | 7-9 working days |
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