Fast-track liquidation
Fast-track liquidation is a quick way to dissolve and liquidate your business. This is only possible if there are no assets left at the time of dissolution. Fast-track liquidation is not possible for sole proprietprships (eenmanszaken) or General Partmerships (VOFs). Read more about the options and conditions.
What is a fast-track liquidation?
With a fast-track liquidation, you do not need to officially settle your business's finances (statutory liquidation). You can quickly settle the dissolution of a legal entity. A dissolution immediately ends the legal entity. You only need a decision from the general meeting of shareholders or board. This saves you costs.
When can you carry out a fast-track liquidation?
Fast-track liquidation usually takes place at inactive legal entities that have no capital or income. Income consists of all assets on the balance sheet of a legal entity. For example, real estate, liquid assets, inventory, stock, and money that is still to be received (receivables). These are also referred to as assets.
Is there still income? Then a fast-track liquidation is not allowed. A liquidator must divide the assets.
Fast-track liquidation can be applied to, for example, a:
- (inactive) BV
- public limited company (NV)
- cooperative (coöperatie)
- mutual insurance association (onderlinge waarborgmaatschappij)
- foundation (stichting) or association (vereniging)
Dissolving an owners' association (VvE)
An owners’ association (VvE) can only be dissolved once the division into flats has been reversed by a civil-law notary. Or if the building is demolished.
Ending a sole proprietorship or VOF
You cannot use fast-track liquidation to end a sole proprietorship or VOF.
What are the risks?
Are there still benefits after the fast-track liquidation? Or does it appear that the fast-track liquidation was not carried out correctly (deliberately or accidentally)? Creditors may then go to court. They may request that the legal entity and any debts be settled. They may also file for bankruptcy.
Checklist for fast-track liquidation
There must be no more assets in the company, if you want to use the fast-track liquidation. Check the following:
Your company should no longer have any assets such as inventory or other business assets. Check what assets you still have, such as:
- debtors
- money in the bank account
- stocks
- cars and equipment
- intellectual property rights
If any money remains in the bank account after dissolution and liquidation, in principle it goes to the shareholders. Unless there is a different agreement in the articles of association.
Do you have a vehicle in your company's name? Then do not forget to transfer the vehicle registration to your own name when you deregister your company.
Does your company have any loans? Check what agreements have been made. Are you unable to meet your payment obligations? Then contact the financier.
If a creditor can prove that the conditions for a fast-track liquidation were not met, you as former director can be held liable. So, check that you have completed all the steps correctly or seek assistance from a lawyer or accountant.
Cancel the business's contracts and insurance policies, for example:
- telephone numbers
- webhosting
- social media accounts
- subscriptions
- contracts
- business bank accounts
Deregistering with KVK
You must inform KVK of the dissolution. Legal entities must submit additional documents to KVK in the event of a fast-track liquidation. These documents must prove that fast-track liquidation was necessary. This rule is laid down in law to better protect creditors in the event of fast-track liquidation.
Have you checked everything and got the necessary documents at hand? Then follow these steps:
1. Log into My KVK on the KVK website. You need a DigiD for this. If you do not have a DigiD or do not speak Dutch well enough, you can also fill in KVK Form 17a: Reporting a dissolution of a legal entity.
2. Do you want to deregister a BV zonder baten (BV without assets) via turbo liquidation? Use My KVK. Do you want to deregister another type of legal entity without assets? Then fill in form 17a. The fast-track liquidation help form shows you the documents you need to upload or send to KVK.
3. After filling out the form and uploading the documents, sign the form online. Or send both forms, and the necessary attachments, to KVK by post.
4. If everything is correct, KVK will deregister your bv from the Business Register.