Ended your business? Here is what to do after deregistering from KVK

Do this after you deregister

Use this step-by-step plan to see what you can and what you must do.

1. Finalise your accounts (mandatory)

   Once we have entered the deregistration in the Business Register, we will notify the Netherlands Tax Administration. Always check whether you receive a letter from the Tax Administration. This can take up to 8 weeks. You will need to take further steps yourself to ensure your business’s tax affairs are properly settled as well:

   • Turnover tax (VAT return)

     Continue to submit your returns as long as they are listed in Mijn Belastingdienst Zakelijk. Unless you are exempt from submitting VAT returns, as under the KOR scheme.

   • Income tax

     When you file your next income tax return, include all financial matters relating to the closure of your business, such as stock or capital gains on liquidation. Most legal entities are also required to file their financial statements.

   An accountant or tax adviser can help you with this and ensure that you do not overlook anything when finalising your accounts.

   Continue to file your tax returns

   Have you not yet received a letter from the Tax Administration? Keep filing the returns listed as unfinished in Mijn Belastingdienst Zakelijk (in Dutch). Avoid a fine. 

2. Hold on to your records (mandatory)

   Once you have deregistered with KVK, you remain responsible for keeping your records. You must retain these documents so that the Tax Administration can inspect them if necessary.

   • You must hold on to all business records, such as invoices, bank statements, and contracts, for at least 7 years.
   • For immovable property, such as buildings or rights relating to them, the retention period is 10 years. 

   Make arrangements on how to store your records

   You can agree with the Tax Administration on how to store your records. For example: scanning invoices and storing them digitally, rather than keeping paper copies.

3. Cancel your business bank account

   Your bank will automatically be notified when you deregister with KVK. You will usually receive a message from the bank about this.

   • Make sure you close your account yourself if you have not already done so before deregistering with KVK. When closing the account, you can usually specify an alternative account, such as your personal account.
   • If you do not close your account yourself, the bank will block it. Check with the bank to find out how long you have to close your bank account.

   Check the impact on your bank account

   Your business bank account is always linked to your business’s KVK registration. Check with your bank to find out how long your account will remain active after deregistration.

4. Check that you have cancelled the contracts and insurance policies

   Check whether you might still have a subscription or contract running by mistake, or whether you have failed to transfer it.  

   • Do not forget contracts that are automatically renewed annually, such as mobile phone or software contracts.  
   • Check whether you still need business insurance, such as liability or incapacity for work cover, and cancel or adjust these policies. You may need a cancellation confirmation for this.
   • Put agreements in writing and check the notice periods so that you do not face any surprises.
5. Delete your professional online profiles and inform your network

   Close your digital channels and actively inform your network.  

   • Do not forget to deactivate your business email or set up automatic forwarding to your personal address.  
   • Cancel your domain name if you are no longer using it and delete your business profiles from social media.  
   • Are you listed on Google Maps? If so, log in to your Google Business account and request removal.  
   • You have probably already informed your customers and suppliers about your closure. Send another clear message stating that you have now ceased trading completely and thank them for their business. This way, you remain in control of your business, right up to the very end.