What is it used for?

• Applying for a new DIN: Individuals aspiring to become company directors can submit DIR-3 to obtain a unique 8-digit ID.
• Updating existing DIN details: Existing directors can file DIR-3 if their information like address, phone number, etc., needs to be updated.
• Annual KYC filing: All directors with active DINs must mandatorily file DIR-3 KYC by September 30th of the following financial year for KYC verification.

Benefits of filing DIR-3:

• Transparency and accountability: Ensures transparency and accountability in corporate governance by tracking directors across companies.
• Simplified KYC: Streamlines KYC verification for directors.
• Mandatory compliance: Fulfills a mandatory requirement for all company directors.
• Prevents future complications: Avoids potential issues like disqualification from directorships due to non-compliance.

Penalties and Late Fees:

• Failure to KYC Filing: Leads to deactivation of your DIN. This deactivated DIN cannot be used for any directorial functions until you file KYC and pay a late fee of Rs. 5,000.

Here’s a quick summary table: