MCA introduces New Form DIR-3-KYC-WEB for KYC of Directors

The Ministry of Corporate Affairs (MCA) on 25th July 2019, has published the Companies (Appointment and Qualification of Directors) (Third Amendment) Rules, 2019. By this amendment, web service DIR-3 KYC- WEB has been introduced for filling KYC and inserted a new Form DIR-3-KYC-WEB. This amended Rules are effective from July 25, 2019.

The changes brought by this amendment are as follows-

  1. The e-Form DIR-3 KYC is to be filed by an individual who holds DIN and is filing his KYC details for the first time or by the DIN holder who has already filed his KYC once in e-form DIR-3 KYC but wants to update his details.
  2. Web service DIR-3-KYC-WEB must be used by the DIN holder who has submitted e-form DIR-3 KYC in the previous financial year and no update is needed in his details.

There shall be no fee Filing of e-form DIR-3 KYC or DIR-3 KYC web service on or before 30th September 2019. However, in case of delayed filling, a penalty of Rs.5000 shall be imposed. Also, if the individual failed to file e-form DIR-3 KYC or DIR-3 KYC- WEB for the immediate previous financial year through web service, a fee of Rs. 5000 will be imposed.

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