DIR-3 KYC Due Date 2019: A Comprehensive Guide

The DIR-3 KYC (Know Your Customer) due date for 2019 is rapidly approaching. All directors of Indian companies are required to file their KYC documents with the Ministry of Corporate Affairs (MCA) by March 31, 2019.

This article provides a comprehensive guide to the DIR-3 KYC process, including the due date, eligibility requirements, required documents, and step-by-step instructions.

What is DIR-3 KYC?

DIR-3 KYC is a mandatory process for all directors of Indian companies. It involves submitting certain personal and financial information to the MCA in order to verify their identity and ensure that they are fit and proper to hold the position of director.

Due Date for DIR-3 KYC 2019

March 31, 2019

Who is Eligible for DIR-3 KYC?

All directors of Indian companies, including:

• Executive Directors
• Non-Executive Directors
• Nominee Directors
• Alternate Directors

Required Documents for DIR-3 KYC

The following documents are required for DIR-3 KYC filing:

Personal Documents:

• PAN Card
• Aadhaar Card
• Passport (if applicable)
• Voter ID Card (if applicable)

Financial Documents:

• Bank account statement
• IT Return acknowledgment
• Proof of address (if different from bank statement)

Step-by-Step Approach to DIR-3 KYC Filing

Step 1: Obtain DSC and DIN

• Directors must obtain a Digital Signature Certificate (DSC) and Director Identification Number (DIN).
• DSC can be obtained from authorized Certifying Authorities (CA).
• DIN can be obtained from the MCA.

Step 2: Access MCA Portal

• Visit the MCA portal (https://www.mca.gov.in/).
• Login with your DIN and DSC.

Step 3: File DIR-3 KYC Form

• Select "e-Filing" option from the menu.
• Navigate to "DIR KYC e-Form" and click on "File DIR-3 KYC".
• Fill in the form with the required personal and financial information.
• Upload the necessary documents.

Step 4: Verify and Submit

• Verify the details entered in the form.
• Digitally sign the form using your DSC.
• Submit the form to the MCA.

Common Mistakes to Avoid

• Not submitting KYC documents by the due date
• Providing incorrect or incomplete information
• Not uploading required documents
• Not digitally signing the form

Effective Strategies

• Start the process well before the due date to avoid last-minute rush.
• Verify your documents thoroughly before submission.
• Seek professional assistance if needed.
• Keep a backup of all submitted documents for future reference.

Stories

Story 1:

Mr. Patel, a director of a construction company, forgot to file his DIR-3 KYC by the due date. As a result, he was disqualified from his position as director and the company faced penalties from the MCA.

Moral: Don't procrastinate when it comes to DIR-3 KYC.

Story 2:

Ms. Mehta, a director of a technology startup, accidentally uploaded the wrong bank account statement in her DIR-3 KYC form. The MCA rejected her filing, causing her to miss the due date.

Moral: Pay attention to details and double-check all documents before submission.

Story 3:

Mr. Gupta, a seasoned businessman, hired a consultant to help him with his DIR-3 KYC filing. The consultant made several errors in the form, which resulted in rejection by the MCA.

Moral: If you need assistance, choose a qualified and experienced professional.

Tables

Table 1: Documents Required for DIR-3 KYC

Table 2: Common Mistakes in DIR-3 KYC Filing

Table 3: Effective Strategies for DIR-3 KYC Filing

Pros and Cons of DIR-3 KYC

Pros:

• Enhanced transparency and accountability in corporate governance
• Reduced risk of fraud and money laundering
• Easier verification of directors' identity and financial status
• Improved investor confidence

Cons:

• Additional burden on directors
• Potential for data breaches
• May not be effective in identifying all dishonest directors