DIR-3 KYC Due Date 2019: A Comprehensive Guide for Companies

Introduction

The DIR-3 KYC (Know Your Customer) filing is a mandatory annual compliance requirement for all companies registered in India. It is designed to ensure that companies maintain accurate and up-to-date information about their directors and key managerial personnel (KMPs).

The DIR-3 KYC Due Date 2019 for filing is 30th September 2019. Failure to file the DIR-3 KYC by the due date can result in significant penalties, including fines and imprisonment.

This comprehensive guide will provide companies with all the information they need to understand the DIR-3 KYC filing requirements, prepare and file the form, and avoid any potential penalties.

What is DIR-3 KYC?

DIR-3 KYC is a form that collects information about a company's directors and KMPs, including their personal details, residential addresses, and contact information. This information is used by the Ministry of Corporate Affairs (MCA) to verify the identity of the directors and KMPs and to ensure that they are not involved in any illegal activities.

Who Needs to File DIR-3 KYC?

All companies registered in India are required to file DIR-3 KYC. This includes public and private companies, limited liability partnerships (LLPs), and one-person companies (OPCs).

When to File DIR-3 KYC?

The DIR-3 KYC due date 2019 is 30th September 2019. Companies must file the form within this deadline to avoid any penalties.

How to File DIR-3 KYC?

Companies can file DIR-3 KYC online through the MCA website. The following steps outline the process:

1. Visit the MCA website (https://www.mca.gov.in/)
2. Click on the "Services" tab and select "e-Filing"
3. Select "DIR-3 KYC" from the list of forms
4. Fill out the form with the required information
5. Upload the supporting documents
6. Pay the filing fee
7. Submit the form

Documents Required for DIR-3 KYC

The following documents are required to be uploaded with the DIR-3 KYC form:

• Copy of the director's or KMP's PAN card
• Copy of the director's or KMP's voter ID card or passport
• Copy of the director's or KMP's address proof (such as utility bill or rent agreement)
• Copy of the director's or KMP's photograph

Penalties for Non-Compliance

Companies that fail to file DIR-3 KYC by the due date will be subject to the following penalties:

• Fine of up to Rs. 1,00,000
• Imprisonment for up to six months
• Additional penalties as may be prescribed by the MCA

Importance of DIR-3 KYC

DIR-3 KYC is an important compliance requirement for companies. It helps the MCA to maintain accurate and up-to-date information about the directors and KMPs of companies. This information is used to prevent fraud, money laundering, and other illegal activities.

Benefits of DIR-3 KYC

In addition to being a compliance requirement, DIR-3 KYC also offers the following benefits:

• Enhances corporate governance by providing transparency and accountability
• Protects companies from fraud and financial crime by verifying the identity of directors and KMPs
• Improves the company's reputation by demonstrating compliance with legal requirements

Call to Action

All companies registered in India must ensure that they file DIR-3 KYC by the due date of 30th September 2019. Failure to comply with this requirement can result in significant penalties. Companies should take the necessary steps today to prepare and file the DIR-3 KYC form to avoid any potential legal consequences.

FAQs

Q: What is the DIR-3 KYC due date 2019?
A: The DIR-3 KYC due date 2019 is 30th September 2019.

Q: Who needs to file DIR-3 KYC?
A: All companies registered in India are required to file DIR-3 KYC.

Q: What documents are required for DIR-3 KYC?
A: Copy of the director's or KMP's PAN card, voter ID card or passport, address proof, and photograph.

Q: What are the penalties for non-compliance?
A: Fine of up to Rs. 1,00,000, imprisonment for up to six months, and additional penalties as may be prescribed by the MCA.

Q: What are the benefits of DIR-3 KYC?
A: Enhances corporate governance, protects companies from fraud, improves the company's reputation.

Tips and Tricks

• Start the DIR-3 KYC filing process well before the due date to avoid any last-minute rush.
• Gather all the required documents in advance to ensure smooth filing.
• Carefully review the instructions and ensure that all the information provided is accurate and complete.
• Keep a copy of the filed DIR-3 KYC form for future reference.

Stories

Story 1:

A company was fined Rs. 1,00,000 for failing to file DIR-3 KYC by the due date. The company had forgotten to file the form and was unaware of the penalties for non-compliance. The company learned the hard way that it is important to comply with all legal requirements, no matter how small.

Story 2:

A company was saved from a fraudulent transaction thanks to DIR-3 KYC. The company had received an email from a fraudster who was posing as a director of the company. The fraudster had requested the company to transfer funds to a bank account. However, the company was able to verify that the email was not from a director of the company by checking the DIR-3 KYC records. The company was able to avoid a significant financial loss.

Story 3:

A company was able to improve its corporate governance by implementing DIR-3 KYC. The company had previously had a number of problems with fraud and financial irregularities. However, after implementing DIR-3 KYC, the company was able to significantly reduce the number of incidents of fraud and improve its overall financial performance. The company learned that DIR-3 KYC is an essential tool for maintaining good corporate governance.

Tables

Table 1: Key Dates for DIR-3 KYC 2019

Table 2: Documents Required for DIR-3 KYC

Table 3: Benefits of DIR-3 KYC