Detailed information regarding eKYC for all directors

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e-KYC for Directors
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Introduction to Directors KYC via DIR-3 eForm
The Ministry of Corporate Affairs directs new
rules for the directors of all companies. The new
rules require directors of all private, public
companies and LLPs (designated partners) to
comply with the Directors KYC norms to avoid
deactivation of their DIN (Director
Identification Number).
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Documents Required

• Directors mobile (verified via OTP)
• Directors e-mail ID (verified via OTP)
• The following supporting documents would have to
  be attached, duly self-attested by the director
• PAN Card
• Aadhar Card
• Passport (only for foreign directors)
• Address Proof (Telephone bill or Electricity
  Bill)
• The DIR-3 form would have to be signed by the
  directors own DSC (Digital Signature
  Certificate), and the DSC of a practising CA or
  CS.

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Steps for Directors KYC

• The number and personal email id that will be
  verified through One Time Password (OTP). The
  Information by E-form DIR-3 will be filed by
  directors using their DSC which will be duly
  certified.
• The information will be updated annually by a
  company secretary at the time when annual
  financial statements are filed with MCA.
• If the KYC form is not filed by 31st August
  2018 MCA 21 will mark the approved DINs as
  deactivated along with reason Non-filing of
  DIR-3 KYC.
• The deactivated DIN will be allowed only after a
  specified payment of the late fee, which will be
  notified by MCA. 
• Availability of Form As per recent MCA
  notification the form DIR-3 will be available on
  MCA21 Company Form on 14th July 2018.

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Timeline

• The government has made it clear that
  the Directors KYC compliance would be a yearly
  exercise. All directors (and designated partners)
  would need to submit their KYC documents
  annually.
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• Cut-off dates The cut-off date to fall under the
  compliance bracket would be March 31. Meaning, if
  a person has a DIN as on March 31, he or she
  would mandatorily have to file the DIR-3 KYC for
  that financial year.
• Date of Submission of the KYC form This is a
  recurring compliance requirement to be filed
  annually. For a particular financial year, the
  DIR-3 KYC has to be filed by April 30 of the next
  financial year. So, for all DINs allotted in the
  financial year 2018-19, the last date to submit
  the form would be April 30, 2019.
• Only for Financial Year 2017-18 Since the rules
  have been made effective only on July 10, 2018,
  all the Directors with an allotted DIN on or
  before March 31, 2018, would have to submit the
  KYC form on or before August 31, 2018. Directors
  whose DIN has been allotted between April 1, 2018
  and August 9, 2018, wouldnt have to comply with
  the August 31, 2018 deadline. However, they would
  have to submit the form before April 30, 2019.

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Frequently Asked Questions

• What is fees and penalty for the KYC of
  Directors?
• The MCA has not specified any filing fees for the
  DIR-3 KYC. However, delay in filing the Directors
  KYC form (after the specified due date) would
  attract a penalty of INR 5,000 per form. Further,
  the Government would deactivate the DIN upon
  failure to comply.
• Is it mandatory KYC of All Company
  Directors ?
• Yes, Every director that have been allotted DIN
  before or on 31 March 2018 and the DIN that are
  in Approved status are mandatorily required to
  file the form DIR-3 KYC by 31 August 2018.
• Documents required for DIR-3 KYC for
  Directors?
• PAN Card, Aadhar Card, Passport (only for
  foreign directors) and Address Proof (telephone
  bill or electricity bill)

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CONTACT INFORMATION
info_at_quickcompany.in 011-395-95858 www.quickcomp
any.in