What is Web Based Director KYC, Its Applicability and Process?

  • Setindiabiz Team
  • April 22, 2024
What is Web Based Director KYC, Its Applicability and Process?

DIR-3 KYC Web service form was introduced by the Ministry of Corporate Affairs (MCA) to allow individuals holding DIN with ‘Approved’ status, to validate their existing annual KYC credentials. Taking insight into essentials of dir3 web kyc including applicability, process, etc. can help file annual KYC of directors at an ease. This blog helps gain know-how of essentials of director kyc web form or, dir 3 web kyc.

BRIEF SUMMARY

Overview

DIR 3 KYC web form is an online form introduced to allow DIN Holders to verify their KYC details under Rule 12A of the Companies Act (Appointment & Qualification of Directors) Rules, 2014. An individual who has obtained a DIN before 31st March of a financial year is required to submit this form on or before the due date of each financial year. It helps them in verifying and confirming their existing KYC details in the MCA21 database. In simple words, this online KYC form allows a DIN holder to verify his pre-submitted KYC information only; not any kind of update in the database. It was especially introduced to those directors whose KYC information has remained unchanged from its last annual KYC filing. However, those DIN holders whose KYC details have changed from their last submission can use DIR 3 KYC form to update their KYC details submitted to ROC. This bifurcation of KYC forms was a part of the government’s move towards reducing entrepreneurs’ compliance burden.
What is Web Based Director KYC, Its Applicability and Process?

Applicability of Web based director kyc or DIR 3 KYC Web

The main purpose of Form DIR 3 KYC Web is to simplify process of verification of kyc for directors. Submitting this form is mandatory for those directors who have got a DIN on or before the end of the financial year. This form can be accessed and submitted through the MCA’s portal. This form helps MCA to have accurate and latest information of directors in their records which can be accessed by the general public as well.

Key Check Points for filing DIR 3 KYC Web Form

DIN holders who want to file director KYC Web form, should consider various points for successfully submitting this form. Some of those main checkpoints are listed below;
  • Please go through necessary instructions and guidelines carefully before filing this KYC web-service form. 
  • Register your business on the MCA portal. 
  • Ensure that you have a valid Mobile Number & Email Address against your DIN and they must not be linked with any other DIN.
  • Hold a valid DIN whose status is ‘Approved’, ‘Disqualified’ or ‘Deactivated’ due to non-filing of DIR 3 KYC web form. If DIN status is deactivated, you are allowed to submit a web-service form only in case of ‘Non-filing of KYC in DIR 3 KYC’. 
  • Make sure that you have filed DIR 3 KYC eForm at least once against your DIN in any of the last financial year.
  • Don’t forget to verify OTP entered for the mobile number and email ID.
  • No fee is applicable to filing DIR 3 KYC web form if you file it before 30th September of the next financial year of obtaining DIN. 

Process for filing Web based director KYC

Following a specific process of filing web based director kyc is necessary to verify director details. The process is divided into some steps so that the directors can easily complete their annual compliance of director kyc verification. The process of web based director kyc filing can be completed by following the below steps;
Step 1. Go to official MCA website: The first step to filing a web based kyc form is to go to the official website of the Ministry of Corporate Affairs (MCA).
Step 2. Log in with valid credentials: Log in to the MCA portal using your login credentials that you have created for filing director e kyc. However, new users have to first sign up to the portal by entering the asked details.
Step 3. Access DIR 3 KYC eForm: Once you are logged in to the portal, search for DIR 3 KYC form under ‘Filings’ section on this portal.
Step 4. Fill up necessary details: Fill in the details as required by the system. This may include basic information such as director identification number (DIN), PAN, Address, Email ID and contact number.
Step 5. Upload necessary documents: Upload the required supportive documents that may be proof of identity, proof of address, PAN Card, and so on. Upload clearly visible documents.
Step 6. Verify entered details: Review closely each information you will enter in the web kyc form. After getting assured, move further to submit the form.
Step 7. Pay fees: Make payment fee if applicable in the form. It may vary from one to another as per their past compliance and other regulations.
Step 8. Submit form: After checking entered details and paying required fees, submit the duly filled form with necessary attachment. On successful submission of the form, an acknowledgement receipt will be sent to your email.
Step 9. Wait for Approval: The MCA will process your submitted form to check and verify the information you have entered. If your provided information and documents are found to be correct, your director kyc web form will be approved.
Step 10. Confirmation: If your dir kyc web form is approved, you will receive confirmation for the same. Collect and keep the copy of the acknowledgement safely for future records.
It’s essential to stay updated with any changes or notifications from the MCA or relevant authorities regarding the filing process or requirements for the DIR-3 KYC e-Form. Additionally, consulting with a legal or financial expert may provide further guidance specific to your situation.

Director kyc is an essential annual compliance that each individual with DIN status ‘approved’ will have to file it. Another form, dir 3 kyc web based enables directors to verify their kyc information who have already filed their director kyc in any previous financial year and no updates in their KYC details have taken place since then.

Conclusion

FAQs

Q1: Who may need to submit an DIR-3 KYC eForm?

Any DIN holder submitting their annual KYC information to the MCA for the first time can do it by filing DIR 3 KYC e-form. Filing e-form KYC is not an option but an obligatory annual filing that DIN holders with ‘Approved’ status must follow. Moreover, any DIN holder who needs to make updation in any of his KYC details can do it using this DIR-3 KYC eform. DIN holders whose KYC credentials have not changed since their last filing, can verify their KYC details by filing DIR 3 KYC.

Q2: Who is needed to file KYC through the DIR-3 KYC web-service?

A DIN holder who has already submitted eForm DIR-3 KYC in any passed financial years, and does not need to change any of his KYC credentials as submitted, may file his annual KYC through DIR-3 KYC web eform. No fee is payable till the due date of each financial year. However, after the due date, an applicant needs to file a fee of Rs. 5000.

Q3: Is it obligatory to enter a unique mobile number and email ID while filing form DIR-3 KYC?

Yes it is obligatory to provide your personal Mobile Number and Email ID in the form DIR 3 KYC which must be verified by OTPs. Please make sure that the given mobile number and email ID must be unique as they shouldn’t be linked with any other person’s DIN database.

Q4: Do I need to file form DIR 3 KYC if I am a disqualified director?

A disqualified director is also needed to comply with annual KYC regulations. You can reactivate your DIN by filing online dir 3 kyc form with late fee of Rs. 5000.

Q5: What is the deadline to submit Form DIR-3 KYC?

Individuals who have obtained DIN before 31 March, must file their DIR 3 KYC Form on or before 30 September of the current year. Directors who were assigned DIN after 31 March of the current financial year, must file their kyc form by 30 September of the next financial year.

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