Step-by-Step Guide to Cancelling Company Registration
As an expert business broker, I understand the complexities of the process of cancelling company registration. In this article, I aim to answer the question: ‘How to cancel company registration?’ clearly and concisely.
How to cancel company registration?
Your corporation is legally dissolved at the time a certificate of dissolution is filed with the same secretary of state’s office, or similar agency, where it was initially incorporated. To shut down a company under the FTE (Faster Taxation & Employment) Act, one can apply through the Form (FTE) that is available on the MCA (Ministry of Corporate Affairs) website: https://www.mca.gov.in/mcafoportal/. Similarly, the ROC (Registrar of Companies) can also wind up a company under the FTE Act, a person can apply through the form (FTE) available on the website of MCA. As per the said Act, the company seeking cancellation of registration certificate under FTE has to apply e-form 61 to Registrar of Company.
Procedure To Strike Off or Cancellation Of Company Registration In Case Of Voluntary Striking Off
The procedure to strike off or cancel company registration in case of voluntary striking off is as follows:
- Authorise any firm officer or director to submit an application to the Registrar in the prescribed form along with the prescribed fees.
- The Registrar shall then publish a notice in the prescribed manner regarding the application in the Official Gazette and the main local newspaper.
- The Registrar shall then send a copy of the notice to the Income-tax authority, official liquidator, and other parties as prescribed.
- The Registrar shall then hold a meeting of creditors and the shareholders to consider the application.
- The Registrar shall then make a report of the proceedings of the meeting, which shall be placed before the Central Government.
- The Central Government shall then consider the report and pass an order for the striking of the company’s name from the Register of Companies.
Limited liability companies and partnerships (both domestic and foreign) may legally cancel or terminate their registrations with the state by filing the appropriate paperwork with the Secretary of State’s office.
In conclusion, understanding how to cancel company registration is a complex process that requires careful consideration of the applicable laws and regulations. For more information on selling a business or business brokers, visit Atlantabusinesses.com, a great resource for answers to all your questions.
Should I get rid of my EIN if I shut down my company?
Send a written request to the IRS to close the EIN account associated with your business once all taxes have been paid. Note that this will only terminate your tax obligations; the number will remain connected to your business and will not be re-assigned to another entity.
What is the process for dissolving a business?
In order to shut down an incorporated company and end operations, you will need to file Articles of Dissolution. Decide whether to use the federal or provincial process for dissolving your business, depending on the kind of corporation you own. A federal corporation is only able to be dissolved once it has no more property or liabilities.
What is the process for dissolving a corporation with the IRS?
They need to submit Form 966, Corporate Dissolution or Liquidation, if they decide to dissolve the corporation or to liquidate any of its stock through a resolution or plan.
What is the process for shutting down a business that never opened?
Here are the steps to properly terminate your business: 1) Terminate the legal entity (LLC or corporation); 2) Pay off any outstanding commitments; 3) Revoke any business licenses and permits; 4) Close any federal and state tax accounts; 5) Contact your vendors and contractors; 6) Take time for reflection.
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