DIR-3 KYC
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Documents Required
- Board Resolution
- Shareholder Resolution
- Notice of Removal
DIR-3 KYC
DIR-3 KYC is a form required under the Indian Companies Act for the annual Know Your Customer (KYC) compliance of directors who hold a Director Identification Number (DIN). It ensures that the details of directors are updated and accurate, and it is mandatory for all directors with an active DIN.
Key Points
Mandatory Filing: All directors with an active DIN must file DIR-3 KYC annually.
Purpose: The form updates the personal details of directors, ensuring their information is current with the Registrar of Companies (ROC).
Filing Deadline: The form must be filed within a specific period each financial year, usually by September 30th.
Documents Required
Personal Identification:
PAN Card.
Aadhaar Card or Passport (for address proof).
Contact Information:
Personal mobile number and email address.
Proof of Address:
Utility bills, bank statements, or other documents showing residential address.
Photograph:
Recent passport-sized photograph of the director.
Digital Signature Certificate (DSC):
DSC of the director for electronic filing.
Process
Access the Form:
Log in to the MCA (Ministry of Corporate Affairs) portal using your credentials.
Fill the Form:
Complete Form DIR-3 KYC by entering personal details, including PAN, address, contact details, and other relevant information.
Attach Documents:
Upload the required documents, including proof of identity and address, and a recent photograph.
Verify Details:
Ensure all the information is accurate and complete before submission.
Sign and Submit:
Use the Digital Signature Certificate (DSC) to sign the form electronically.
Submit the form on the MCA portal.
Acknowledgment:
After submission, an acknowledgment receipt will be generated. Save this for your records.
Compliance Confirmation:
The ROC will process the form and update the director’s KYC status. Check the status periodically to ensure compliance.
Advantages
Legal Compliance: Ensures that directors are compliant with regulatory requirements and avoids penalties for non-filing.
Updated Information: Keeps the director’s information current with the ROC, facilitating smoother corporate operations.
Avoids Penalties: Regular filing helps avoid late fees or penalties that may arise from non-compliance.
Enhanced Transparency: Contributes to greater transparency and accountability in corporate governance.
Disadvantages
Administrative Task: Requires time and effort to gather documents and complete the form accurately.
Penalties for Non-compliance: Failure to file DIR-3 KYC on time can result in fines or penalties for directors.
Potential Errors: Incorrect or incomplete information can lead to delays or issues in processing the form.
Digital Dependency: Requires a Digital Signature Certificate (DSC) and access to the MCA portal, which might be challenging for some directors.
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