Directors of Companies to Complete KYC

WHAT IS THIS NEW REGULATION?

The Ministry of Corporate Affairs (MCA) came out with an update that as a part of updating its database, the (Know Your Customer) KYC of all Directors of all companies must be done through a new eform viz. DIR-3 KYC.

WHAT DO I HAVE TO DO?

Every Director who has been allotted DIN on or before 31st March, 2018 and whose DIN(Director Identification No.) is in ‘Approved’ status would be mandatorily required to file form DIR-3 KYC on or before 31st August, 2018.

While filing the form, the Unique Personal Mobile Number and Personal Email ID would have to be mandatory indicated and would be duly verified by One Time Password (OTP). The form should be filed by every Director using his own DSC (Digital Signature Certificate) and should be duly certified. Filing of DIR-3 KYC would be mandatory for Disqualified Directors also.

WHAT HAPPENS IF I DONT COMPLY?

After expiry of the due date by which the KYC form is to be filed, the MCA21 system will mark all approved DINs (allotted on or before 31st March 2018) against which DIR-3 KYC form has not been filed as ‘Deactivated’ with reason as ‘Non-filing of DIR-3 KYC’.