Filing Form DIR-3 KYC is an essential compliance requirement for all directors of a company. The form ensures that the details of the director in the MCA database are up-to-date and accurate. However, while filing the form, many directors make some common mistakes that can result in rejection or delay in processing. In this article, we will discuss some of the common mistakes to avoid while filing Form DIR-3 KYC.
1. Providing Incorrect Details:
The most common mistake while filing Form DIR-3 KYC is providing incorrect details such as name, DIN, PAN, and date of birth. It is essential to ensure that all the details provided in the form match with the records available with the government authorities.
2. Not Updating Changes:
If there are any changes in the details of the director such as address, mobile number, or email address, it is important to update them in the MCA records. Many directors forget to update these changes, resulting in non-receipt of OTP or other important communication related to the form.
3. Not Submitting the Form on Time:
Form DIR-3 KYC must be filed every year on or before 30th September. Many directors miss the deadline and end up facing penalties or rejection of the form. It is important to keep track of the deadline and submit the form on time.
4. Not Checking Pre-Filled Details:
The MCA portal pre-fills some details such as name, DIN, PAN, and date of birth. It is important to check these details before submitting the form. Any discrepancies in the pre-filled details must be corrected before submitting the form.
5. Not Uploading Mandatory Documents:
The form requires certain mandatory documents such as PAN card, Aadhaar card, and passport-sized photograph. Many directors forget to upload these documents, resulting in rejection of the form. It is important to ensure that all the mandatory documents are uploaded before submitting the form.
6. Not Paying the Fees:
After submitting the form, it is important to pay the fees for processing the form. Many directors forget to pay the fees, resulting in non-processing of the form. It is important to ensure that the fees are paid after submitting the form.
In conclusion, Form DIR-3 KYC is a crucial compliance requirement for all directors of a company. It is important to avoid these common mistakes while filing the form to ensure timely processing and avoid penalties. Directors must ensure that all the details provided in the form are accurate and up-to-date, and all mandatory documents are uploaded before submitting the form.