Ending your business and deregistering from KVK: a checklist
- Gé Sletterink
- 15 May 2023
- Edited 28 Feb 2023
- 3 min
There is more to ending your business than deregistering from the Netherlands Chamber of Commerce KVK. Before you get to that point, you should consider various steps and decide how to end your business. Many things have to be arranged before you deregister from the Business Register. Other steps can only happen afterwards. Read our checklist about ending your business and consider what it means for your situation.
Key steps before you end your business
- Do you have a sole proprietorship? You can personally decide if you want to end your business.
- Do you have a general partnership (vof), professional partnership (maatschap) or limited partnership (cv)? Check the terms in your partnership agreement and discuss the options with your fellow partners.
- Do you have a private limited company (bv)? According to the provisions in the articles of association, the shareholder(s) can decide how to end the business. Depending on their wishes and the situation, the bv can either continue, be sold, or liquidated.
- Are you ending the company because it is not financially viable? You may be eligible for financial support for self-employed professionals (Bbz) while the business still operates.
- Check if you will be eligible for benefits (in Dutch), such as Bbz or IOAZ, after your business has stopped. Please note: you must apply for IOAZ support before you end the business.
- Did you start your business while receiving unemployment benefits (WW) less than 2 years ago? In some situations your unemployment benefit can be restored.
- Contact your bank about stopping or switching your business bank account(s).
- Contact your municipality to find out what you need to do about your business permits.
- Check your financial reserves. You must pay tax on them when the business stops. For example, for the value of your property or company car, consider the difference between the actual value and what is on your balance sheet. Talk to your bookkeeper or accountant to get a professional opinion.
- Decide what to do with your stock and inventory.
- Before deregistering, transfer any assets that are in the name of the bv (‘op naam van de bv staan’) to a buyer or yourself. This also applies to the business assets (‘zakelijk geëtiketteerd‘) of other legal structures. Remember that this includes intellectual property rights, such as design or trademark rights, and even your website’s domain name. You can only transfer these assets before stopping.
- If you have a bv, remember to file the latest annual accounts.
- Talk to your pension fund to find out what needs to be arranged. Also for your staff.
- Contact your bank to settle any business financing. For example, a business mortgage.
- Find out if you can end existing agreements early. For example, rent, lease, insurance, internet, telephone, gas, water, electricity, and mobility/transport subscriptions.
- Consider what your financial situation will look like after stopping. Are there problematic debts that still need to be resolved? Is debt restructuring (Wsnp) or a WHOA procedure an option? Note: you must begin a WHOA procedure while your business is still active.
- Do you have staff? Apply for a dismissal permit and calculate the necessary transition payments to end their employment. After applying for a dismissal permit, let your staff know what will happen.
- Talk to the Employee Insurance Agency (UWV) about the options for compensation of the transition payment (in Dutch).
- Talk to the municipality about your options after stopping. They may be able to help you with your next steps.
- Inform your customers and suppliers that you are stopping.
Deregister from KVK
- Contact KVK to ask for tips about your specific situation.
- Do you have a sole proprietorship/vof/maatschap/cv? Deregister directly on the KVK website. KVK will then notify the Tax Administration.
- Do you have a bv? You must first dissolve the company. Then you can deregister it from the Business Register.
- Order a KVK extract as proof your business has ended.
Key steps after you deregister your business
- If necessary, register as a job-seeker with UWV (in Dutch). You may be able to apply for benefits.
- If you think you qualify for social benefits but cannot apply via UWV, contact your local municipality.
- Check which business insurance policies can be closed. You often need proof of deregistration to end these policies.
- Cancel any remaining business subscriptions.
- File your final turnover tax (VAT) declaration.
- Do you still have problematic debts after stopping? Consider if an amicable settlement or the Wsnp procedure is possible.
- Do you have a sole proprietorship/vof/maatschaap/cv? If there is a discontinuation profit, include this in your income tax return for the year in which you stop. You may be eligible for discontinuation relief. You can only apply this deduction once.
- Do you have a bv? File the final corporate income tax.
- Finalise your business administration.
- You must keep your business administration for at least 7 years.
- Update your social media profiles.
Advice for ending a specific type of business
Visit Business.gov.nl to find specific advice about stopping each type of legal structure.