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E-KYC of Directors: In a nutshell

August 2, 2018     by Anupama

Form DIR-3 KYC

Ministry of Corporate Affairs (India) would be conducting KYC of All the directors of companies annually through a new e-form à DIR-3 KYC.

This exercise covers all DIN’s (Director Identification Number) issued up to March 31, 2018. Indian directors as well as Non-resident directors on the boards of Indian companies, Disqualified directors, Individuals with active DIN’s, all are required to file this form on or before August 31st, 2018.

Listed below are the frequently asked questions in this regard: –

 

                                                                      FAQ’S Form DIR-3 KYC
S. No. FAQ’S Replies
 

1.

 

Who is required to file?

 

 At present: Every individual who has already been allotted DIN on or before March 31, 2018 and the current status of DIN is “Approved”.

Subsequently: Every individual who has been allotted DIN as on March 31st of respective year.

* It also includes “disqualified directors” and individuals holding DIN but “not appointed as director” in any company.

2. Timeline?

 

At present: On or before August 31st, 2018

Subsequently: April 30th (Every year)

3. Filing Fee? Zero, if filed within time
4. Consequences of

Non-Filing?

Deactivation of DIN

And thereby director cannot file any other form.

5. Penalty on late filing? Rs. 5000/- from the first day after the due date
6. Pre- requisites? A valid Digital Signature Certificate (DSC):

Indian nationals should have PAN encrypted DSC and

For Foreign nationals, name in the DSC should match the name in the passport.

7. Personal details & documents required?

 

  • Indian Residents

 

1.   Copy of Aadhar Card;

2.   Copy of Passport – Mandatory, if individual holds a valid passport;

3.   Copy of Permanent Address Proof;

4.   If permanent address and present address are different, copy of Present address proof should also be provided;

5.   PAN number;

 

For verification through OTP (One Time Password)

6.   Personal Mobile number of the respective director;

7.   Personal Email-id of the respective director.

 

 

  • Non- Residents
1.   Copy of Passport;

2.   Permanent Address Proof

3.   If permanent address and present address are different, copy of Present address proof should also be provided;

 

For verification through OTP (One Time Password)

1.   Personal Mobile number (Foreign No.) with country code;

2.    Personal Email-id of the respective director.

 

* Note: –

§  Mobile number and email ID must be unique such that it is not already linked with some other person in the DIN holders’ database.

§  In case of non-residents, foreign address and foreign number shall only be allowed.

 

8. Authentication of the Documents? Ø  All the documents attached with the form should be self-attested and duly certified by professionals (CS/CA/CMA) or notarized/ apostilled if the person is residing outside India.

 

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