The amendment introduces a triennial compliance framework for director KYC filings, changing reporting timelines significantly.
Director KYC Reset: Changes in Filing Framework
The recent changes in DIR-3 KYC compliance have replaced annual filings with a new triennial framework. Directors now need to file KYC compliance once every three financial years while continuing to report changes in particulars within the prescribed timelines.
This amendment is expected to ease compliance burdens on directors while ensuring that companies continue to keep their records up to date. It underscores the importance of maintaining accurate records and timely reporting to comply with statutory obligations.
Practitioners should advise clients on the new filing regimen to ensure they meet the deadlines and understand ongoing compliance obligations.
