Q1: What is DIN KYC and who should file it?
DIN KYC is an annual compliance requirement for all individuals who have an active DIN status in India. This includes both appointed and disqualified directors.
The due date for DIN KYC filing typically falls on or before September 30th of each financial year. Directors are required to complete the KYC process and submit the relevant documents by this date to avoid penalties.
Failing to file DIN KYC within the due date can result in a penalty of Rs.5,000. Also, they may face deactivation of their DIN, which can impact their ability to serve as directors in other companies.
DIN KYC is filed using the e-form DIR-3 KYC by first time filers. All subsequent filers have to file using web-based DIR-3 KYC form.
No government fee is charged for filing DIN-KYC. Penalties will apply for late filing.