Fast-track liquidation: the process at KVK

A turbo or fast-track liquidation is a quick way to end a legal entity such as a:

• besloten vennootschap (BV),
• naamloze vennootschap (NV),
• coöperatie (cooperative),
• onderlinge waarborgmaatschappij (mutual insurance association),
• stichting (foundation), or
• vereniging (association).

You can only use this way if the legal entity has no assets left at the time of dissolution. 

Do you want to deregister a BV zonder baten (BV without assets) via fast-track liquidation? Use My KVK. This can only be done by the person who is the (managing) director of the BV. That person must also be responsible for keeping the BV's records. Read how this works at deregistering a BV. You do not need to complete form 17a in that case.

Do you want to deregister another type of legal entity without assets? Then fill in form 17a  Reporting a dissolution of a legal entity and send it to KVK.

Make sure you have filed all the required financial annual statements of previous financial years with KVK before you send in form 17a or report your deregistration via My KVK. 

Send in documents

Once the decision to dissolve the legal entity has been taken you must send several documents to the KVK Business Register within 14 days,. These are the documents you must provide: 

• A balance sheet and an income and expenses overview for the current financial year. And of the previous financial year, if you have not yet filed a financial statement for that financial year with KVK yet.  
• Explanatory notes. They must explain: 
  • why the legal entity has no assets left at the time of dissolution. 
  • how much money the assets were sold for, and how this sum has been divided (if applicable). 
  • why creditors have not been paid (if that is the case). 

Form

To help you gather and send in the right documents, you can use the KVK help form Extra information for a fast-track liquidation. You do not have to use this form, but you can use it as an aid. 

Send the form and the relevant documents to KVK in one envelope. Do so within 14 days of the date of dissolution of the legal entity. 

Notify by letter

The board of the legal entity must notify its creditors by letter that the fast-track liquidation documents have been filed with KVK. 

Failure to file, or filing incomplete information

If you fail to file the required documents, or if you omit one or more documents, a creditor can apply to court to view the legal entity's financial details. 

Failure to file the required information (on time) is punishable as an economic offence. The Ministry of Finance's Dienst Financieel-Economische Integriteit can create an official report on the basis of which the public prosecutor can impose a fine. Or can take the case to court.

The Openbaar Ministerie (Public Prosecution Service) can ask the court to impose a disqualification on the directors. That means you are not allowed to be a director of a legal entity for a certain period of time. This happens if you as a director of the legal entity: 

• do not follow the fast-track liquidation rules,
• or knowingly disadvantage creditors, 
• or were involved at least twice in the last 2 years in a bankruptcy or fast-track liquidation where creditors were not (fully) paid, and you can be held personally liable.