If you are a director or partner in a company, you would have come across the term Director Identification Number (DIN). It is a unique identification number allotted to individuals who wish to become directors or partners in any registered company in India. However, with new regulations being introduced by the Ministry of Corporate Affairs (MCA), directors need to update their information annually through the DIR 3 KYC and DIR 3 KYC WEB forms. Here’s everything you need to know about these forms.
What is a DIN?
A Director Identification Number (DIN) is a unique number given to individuals intending to become a director in a company. It is a one-time process where an individual can apply for a DIN using the E-form DIR 3. Once obtained, a DIN remains valid for the entire tenure of directorship unless it is canceled by the MCA.
What is DIR 3 KYC?
DIR 3 KYC is an annual compliance process for all DIN holders. The MCA mandates that directors or partners with a DIN allotted before 31st March 2019 must submit or update their KYC details through the DIR 3 KYC form. The form ensures that the Ministry’s records remain up-to-date and helps prevent fraud or misuse of DINs.
DIR 3 KYC WEB
The DIR 3 KYC WEB is a simplified version of the DIR 3 KYC form. It is designed for directors who have already filed their DIR 3 KYC form in the past financial year and don’t need to update their details. If your details remain unchanged, you can file this version instead of DIR 3 KYC.
Key Differences Between DIR 3 KYC and DIR 3 KYC WEB
- DIR 3 KYC: Used by first-time KYC filers or those who wish to update their details.
- DIR 3 KYC WEB: For directors who have previously filed their KYC form and don’t need to make any updates.
Both forms are mandatory for all directors, including disqualified ones, and must be filed through the MCA portal. Failure to comply with the filing requirements before the due date can lead to deactivation of the DIN.
Penalty for Non-Filing of DIR 3 KYC
If a director fails to file the DIR 3 KYC or DIR 3 KYC WEB form by the due date, which is 30th September of the respective year, their DIN will be deactivated. For the financial year 2019-2020, there is no filing fee until 30th September. However, a penalty of ₹5,000 will be charged for reactivating the DIN after the deadline.
Documents Required for Filing DIR 3 KYC
The following documents are required for filing DIR 3 KYC based on whether the director is an Indian National or a Foreign National:
For Indian Nationals:
- PAN Card Copy
- Aadhar Card or Driving License Copy
- Passport Copy (if available)
- Address Proof (if the present address differs from the permanent address)
- Can include utility bills, bank statements, etc.
- Personal Mobile Number of the Director
- Personal Email ID of the Director
- Valid PAN-based Digital Signature with password of the director
For Foreign Nationals:
- Apostilled or Consularized Passport
- Apostilled or Consularized Document for Address Proof (any one of the following, not older than 2 months):
- Electricity Bill
- Telephone Bill
- Mobile Bill
- Bank Statement
- Valid Digital Signature with password of the Director
Conclusion
Filing DIR 3 KYC and DIR 3 KYC WEB is a crucial compliance requirement for directors to ensure their information remains up-to-date in the MCA’s records. Directors must file the form before the due date to avoid penalties and deactivation of their DIN. Ensuring you have the necessary documents and filing the correct form will help you stay compliant and continue your directorship without any interruptions.