DIR-3 is mandatory for each individual holding a valid DIN as on 31st March of each year. Due date for such form is 30th September and necessary to keep Company running and managed well.
Like a government runs through its cabinet, similarly a Company which is a foundation of any economy runs through its Directors. With the change in norms, new guidelines kicking in and regulations experiencing radical changes, many new rules have been introduced for appointment and qualification of Directors in a Company.
Having a mandatory Director Identification Number (DIN) was one such change introduced with the New Companies Act 2013. Since then government has been actively working on removal of shell companies and barring management behind them.
In order to curb this issue in the new as well as existing Companies, an amendment was introduced via notification from 10th July 2018 in the Companies Appointment and Qualification of Directors Rules, 2014 which mandated Directors existing on March 31st of a financial year and who holds a valid DIN to furnish a KYC form by 30th April of the next year. Notably, a relaxation was included on 21.08.2018 which allowed individuals who were directors as on 31st March 2018 to furnish the KYC form by 31st August 2018.
This date for FY 2017-18 was further relaxed to 15th September 2018 via an amendment notification dated 21.08.2018 and then subsequently extended to 5th October 2018 via amendment notification dated 20.09.2018
However, considering other aspects like finalisation of accounts and other deadlines on companies and management immediately after close of the financial year, MCA amended due date of 30th April of the next year to 30th June of the next year (via amendment notification dated 30.04.2019).
Subsequently in order to streamline the date of filing with the annual compliance on companies, the due has been relaxed to 30th September 2019 (via notification dated 25.07.2019)
Schedule of Amendments for filing of DIR-3 KYC form:
Benefits of furnishing DIR 3 KYC form:
- Compliance with Law and DIN to remain active
- Updation in personal mobile number or the e-mail address can be done online
Manner of Finishing Form DIR 3 KYC:
An individual director has an option to furnish either e-form DIR-3 KYC or web-form DIR-3 KYC-WEB through the web service without any fee.
Consequences of Non-filing Form DIR-3 KYC:
- Payment of late fee of Rs. 5,000
- Deactivation of DIN
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