Director’s KYC for the Financial Year 2024-25 due date and Consequences for Non Compliance

What is Director KYC?

Director KYC involves verifying the identities of a company’s directors. This process helps ensure that the individuals responsible for running the company are who they claim to be. Key components include submitting personal information, identification documents, and proof of address.

Why is Director KYC Important?

• Ensuring Transparency
  Transparency is vital for any business. Director KYC helps establish a clear record of who is managing the
  company, making it easier to maintain transparent operations.
• Preventing Fraud
  By verifying the identities of directors, businesses can prevent fraudulent activities. It becomes difficult
  for dishonest individuals to manipulate corporate structures for illicit purposes.
• Building Trust with Stakeholders
  Stakeholders, including investors and partners, need to trust that the company’s leadership is legitimate.
  Director KYC builds this trust by providing verifiable information about the directors..

Steps Involved in Director KYC

1. Filing the Application: Directors need to fill out the Form DIR-3KYC or DIR-3 Web.
2. Submitting Documents: Required documents include identity proof, address proof, and a photograph.
3. Verification: The information provided is verified by the concerned authorities.

Required Documents

• PAN card
• Aadhaar card
• Passport (if applicable)
• Unique Email id And Mobile Number.
• Proof of residence
• Digital Signature of the Director

Director KYC Due Date

The Director KYC due date 30 th   September, 2025 is for maintaining compliance. Missing this deadline can lead to penalties for 5000/- and additional compliance burdens.