DIR KYC is a compliance requirement for directors in India. It stands for Director KYC (Know Your Customer) and is a process mandated by the Ministry of Corporate Affairs (MCA) for directors to verify and update their identity and address details. Here’s a detailed overview of the DIR KYC process:

Purpose of DIR KYC:

• Regulatory Compliance: To ensure that the details of directors are accurate and up to date.

• Prevent Misuse: To prevent the misuse of DINs (Director Identification Numbers) and ensure transparency in the corporate sector.

Who Needs to File DIR KYC:

Every person who holds DIN shall file DIR KYC every year to keep the status active. In case there are no changes in personal details of the person, then the respective ROC Form to be filed is DIR-3 KYC WEB. Otherwise, to update personal details, ROC form DIR-3 KYC shall be filed.

Consequences of Non-Compliance: Non-compliance attracts penalties of Rs.5000 while activating the DIN.