One crucial requirement that all directors must meet is the Director KYC or DIR 3 KYC due date 2024. In this article, Lawgical Adda will cover all you need to know about this din kyc due date 2024 so that you can ensure compliance with the rules. 

Director KYC: What is it? 

The Ministry of Corporate Affairs (MCA) established the Director KYC last date and procedure to update and confirm the information of all directors of firms registered in India. All directors must go through this process; if they don’t, they risk fines and possibly losing their directorship.

What Makes Director KYC Crucial? 

Director KYC is crucial since it enables the government to keep up-to-date and correct director records. Corporate governance is made transparent and accountable through this procedure. Directors can contribute to the prevention of fraud, identity theft, and other illicit acts by updating their MCA director KYC information. 

Who must submit the Director KYC form?

Everyone who received a Director Identification Number (DIN) on or before March 31, the end of the previous fiscal year, is required to file the director’s KYC with the Registrar of Companies (ROC) in the manner specified by DIR-3 (KYC) Form. This means that starting on April 1, 2024, and ending on September 30, 2024, everyone holding a DIN issued on or before March 31, 2024, must file the Form DIN KYC.

DIN Numbers are assigned by March 31, MCA, at the latest. Website Link to View DIN Details Suggested even in the event of resignation, since the director’s DIN may be returned if not previously used

A person must still submit the Directors KYC even if they are no longer a named partner of any LLP, have resigned as a director, or do not currently hold any directorships. Having a DIN is the sole requirement for the Director KYC to be applicable. Interestingly, once a person has been assigned a DIN, it cannot be revoked if that individual has previously held a directorship or served as an LLP designated partner. The DIN can only be given up if it has never been utilized to become a designated partner in an LLP or a director of a firm.

Deadline and Penalties for Failure to File DIR 3 KYC Form

When a director does not submit the e-Form on the MCA 21 portal by the din kyc due date(or an extended deadline), their DIN is noted as “Deactivated owing to Non-filing of DIR-3 KYCs issued by the division. In such circumstances, the director may reactivate his DIN by submitting the e-Form DIR-3 KYC that was overlooked and paying an INR 5,000 late fee.

How To Do Director KYC Online?

The DIN KYC filing procedure is the same for an LLP designated partner or company director.

Verifying DIN  KYC Status

You have to check the DIN KYC status before you can finish the Director’s KYC Filing process. To accomplish this, go to the DIN area under the MCA services page on the MCA website at www.mca.gov.in. Please use the chat, phone, or email options to contact us if you need any assistance. After you have verified your DIN status, you can move on to the next phase.

Obtaining the Appropriate Form

There are two ways that you can submit the Director’s KYC: online or through the e-form (DIR-3 KYC form). The e-form should be utilized for new filings or revisions to preexisting KYC information.

Complete the OTP verification and KYC form.

A director must complete the director KYC procedure by providing their name, address, nationality, gender, date of birth, PAN, ID, Aadhar, DIN, mobile number, and email on the appropriate form. If the form is web-based, specific fields might already be completed and just need the DIN number to be entered. 

Certification and DIR-3 KYC Submission

Use a digital signature certificate to sign and certify the DIR-3 KYC form digitally. The form also needs to be certified by a cost management accountant, company secretary, or chartered accountant. Please upload it on the MCA website. There is no government fee for timely submission; however, after September 30, a late filing fee of Rs. 5,000 is charged.

To sum up, all directors are required to fulfill the Director KYC or DIR 3 KYC due date, which is an important requirement. By making sure your KYC information is current and accurate, you can uphold regulatory compliance and support sound corporate governance. 

To prevent penalties, mark the deadline on your calendar and complete the KYC process on time. Remember that maintaining your position as a director depends on the proactive fulfilment of your KYC obligations. 

FAQs

What happens if the DIN holder’s contact details on the prior year’s Form DIR-3 KYC are altered?

If the mobile number, email address, or other relevant contact information changes, Form DIR-3 KYC WEB must be provided in the current year.

What are the consequences of violating the Directors’ KYC regulatory standards besides a fine?

The concerned person’s DIN will be terminated if form DIR-3 KYC is not filed or if verification is not completed using form DIR-3 KYC WEB (if necessary).