Download: Help form: Provide extra information for a fast-track liquidation

Another word for possessions is assets. Assets are not just the business itself, things it owns, and cash or money in the legal entity's bank account. Assets are also payments the legal entity has yet to receive. For example, from clients or the Netherlands Tax Administration.

Dissolution and fast-track liquidation

You can end these legal structures with fast-track liquidation: besloten vennootschap (private limited company, hereafter BV), naamloze vennootschap (public limited company, hereafter NV), coöperatie (cooperative), onderlinge waarborgmaatschappij (mutual insurance society), vereniging (association), and stichting (foundation). Do you want to end a BV with a fast-track liquidation? If so, you must first dissolve the BV. The dissolution of a BV and its fast-track liquidation can be reported via My KVK.

Do you want to end another type of legal entity by fast-track liquidation? Then you have to dissolve the legal entity first. You report this dissolution using Form 17a. You also use this form to indicate if there are any assets.

Have you not yet filed all financial statements for previous financial years with KVK? And should you have done so? Then do this before you send Form 17a or deregister via My KVK.

Required information

There is a special law for fast-track liquidation. This says creditors must be given additional information about the legal entity's assets and liabilities in its final financial year.

Officials of the legal entity must therefore file a balance sheet and a list of assets and liabilities with KVK. This must be done within 14 days of the dissolution.

It should explain: 

1. Why there were no assets at the time of dissolution.
2. How the legal entity's assets were sold and the money distributed before the dissolution decision was taken (if that happened).
3. Why creditors were repaid in part or not at all (if that happened).

You must also file any due financial statements for previous years.

Inform creditors

Immediately after providing all information about the fast-track liquidation to KVK, you must send a notice to all creditors.

Suppose the legal entity has no assets but does have debts. Then it is wise to address the debts before taking the dissolution decision. Do you use fast-track liquidation if the legal entity still has debts? Then you risk having to pay for the remaining debts with your own money.

If it turns out after fast-track liquidation that there were assets after all, then the legal entity was wrongfully ended. This may result in creditors still demanding money back. Officials may then have to repay them with their own money.

Find out more

Learn more about dissolution and fast-track liquidation:

• Fast-track liquidation: the process at KVK
• Ending a legal entity through fast-track liquidation