Striking Off Companies in Singapore | ACRA Company Strike Off Service

A director in Woodlands called us last month about striking off his dormant company in Singapore. He'd registered it three years ago for a business idea that never took off. Zero revenue, zero activity, but he was still paying $500 yearly for company secretary and filing services. "Can't I just stop filing and let ACRA close it?" he asked. No - that leads to penalties, director prosecution, and potential disqualification. The proper way to close a company is striking off through ACRA's voluntary strike off process. Takes 3-4 months, costs way less than ongoing compliance, and you walk away clean with no liabilities. Here's everything you need to know about striking off companies in Singapore and why doing it properly protects you from future problems.

Striking off means ACRA removes your company's name from the register. The company ceases to exist legally. You're no longer responsible for annual returns, tax filings, or compliance. But ACRA only approves strike off if your company meets strict criteria - no debts, no assets, no ongoing business.

What is Company Strike Off in Singapore

Strike off is ACRA's process for closing a company voluntarily. It's different from liquidation (which involves appointing a liquidator to wind up affairs). Strike off is simpler and cheaper, but only works for companies with nothing left to wind up.

ACRA Strike Off Criteria - You Must Meet ALL of These:

• Not carrying on business: No trading since incorporation or ceased operations
• No debts to government: Zero outstanding to IRAS, CPF Board, or any government agency
• No charges: No mortgages, loans, or security interests registered
• No legal proceedings: Not involved in lawsuits in or outside Singapore
• No regulatory action: No ongoing investigations or disciplinary proceedings
• No assets or liabilities: No equipment, inventory, bank balance, debts, employee salaries owed
• Director authorization: All or majority directors must approve the strike off

Miss even one criteria and ACRA rejects your application. Or worse, approves it initially then someone objects and the whole process collapses.

A retail company in Tampines applied for strike off. ACRA approved the application. Two months later, a supplier filed objection - company owed them $8,000 from old invoices. Strike off application lapsed. Company had to pay the debt, get supplier to withdraw objection, then reapply. Wasted six months and cost them extra accounting fees to keep company live during that time.

Strike Off Timeline and Process

The full strike off process takes minimum 3-4 months from application to final gazette. Can't be rushed - ACRA follows strict procedures with mandatory waiting periods.

Step 1: Application (Day 1)

Director or company secretary files strike off application through BizFile. No fee. All directors must endorse within 14 days or application lapses.

Step 2: ACRA Review (Week 1-2)

ACRA checks if company meets strike off criteria. Approves or rejects. If approved, sends striking off notice to company address, all directors, shareholders, IRAS, and CPF Board.

Step 3: First Gazette (Month 1)

ACRA publishes company name in Government Gazette. This is public notice that company will be struck off. Anyone with claims against company can object.

Step 4: Objection Period (60 days)

Creditors, suppliers, employees, anyone owed money can lodge objection. If objection is filed with supporting documents, ACRA pauses strike off. Company gets 2 months to resolve. If not resolved, application lapses.

Step 5: Final Gazette (Month 3-4)

If no objections or all objections cleared, ACRA publishes final gazette. Company is struck off. Date of strike off is stated. Company ceases to exist from that date.

You can't speed this up. The 60-day objection period is mandatory. The gazette publications have fixed schedules. Budget 4 months minimum from application to dissolution.

Clearing IRAS Tax Before Strike Off

ACRA won't approve strike off if you owe IRAS anything. Not one dollar. You must clear all tax obligations before applying.

What You Must Clear with IRAS:

• Outstanding corporate tax: File all overdue tax returns, pay all assessed tax
• GST arrears: If GST-registered, file all GST returns, pay all GST owed
• Penalties and fines: Pay any late filing penalties, composition fines
• ECI filing: File Estimated Chargeable Income if within 3 months of year-end

Here's the tricky part: If IRAS owes you tax credit (refund), you should claim it BEFORE striking off. Once company is dissolved, any tax refund goes to Insolvency & Public Trustee's Office. Shareholders can still claim it but IPTO charges processing fees. Better to collect your refund while company is still alive.

A logistics company in Bedok had $12,000 tax credit from loss carry-back. They struck off the company without claiming it. After dissolution, they realized the mistake. Had to go through IPTO's claim process - took 4 months and IPTO charged $500 processing fee. They got back $11,500 instead of $12,000.

Clearing CPF Before Strike Off

If your company had employees, CPF Board must confirm zero outstanding contributions before ACRA approves strike off.

CPF Clearance Requirements:

• All employee CPF contributions paid up to date
• Final CPF submission for last month of employment
• No late payment penalties outstanding
• All employees properly terminated in CPF system

Even if you had employees two years ago, CPF Board checks if everything was properly closed out. Missing one CPF contribution? ACRA won't approve strike off until you pay it plus late payment penalties.

Tax Preparation Service for Final Returns

Before striking off, you must file final tax returns covering the period up to cessation of business. This isn't optional - IRAS requires it.

Final Tax Filing Requirements:

1. Final Corporate Tax Return

Prepare financial statements up to date of cessation. File Form C or Form C-S showing final year's income. If you have losses, this is last chance to carry them back for refund from previous years.

2. Final GST Return (if registered)

De-register for GST first. File final GST return. Claim any remaining input tax. Pay or receive refund for net GST position.

3. Final ECI (if applicable)

If cessation happened within 3 months of financial year-end, file ECI for that final year showing estimated chargeable income.

These final returns often trigger tax refunds because companies have losses or excess input tax in their final period. We help calculate whether you should claim refunds or just clear to zero before striking off.

Accounting Firm Role in Strike Off Process

Accounting firms handle the entire strike off process as corporate service providers. Directors don't need to understand BizFile or ACRA procedures - we handle it all.

Complete Strike Off Service Includes:

Pre-Strike Off Preparation:

• Verify company meets all ACRA strike off criteria
• Identify any outstanding debts or obligations
• Clear IRAS tax obligations (file final returns, pay all amounts)
• Clear CPF obligations if applicable
• De-register GST if registered
• Close company bank accounts
• Settle any final expenses

Strike Off Application:

• Prepare strike off application documents
• Get director approvals and endorsements
• File application through BizFile
• Monitor application status
• Handle any ACRA queries

Post-Application Management:

• Monitor gazette publications
• Watch for objections
• Resolve objections if any arise
• Confirm final strike off
• Provide directors with dissolution certificate

A construction company in Jurong wanted to strike off. They hired us. We found $15,000 in outstanding IRAS tax they'd forgotten about, $3,000 in unfiled GST, and their registered address in ACRA records was outdated. We cleared all obligations, updated address, then filed strike off. Approved first time. If they'd applied themselves without checking, ACRA would have rejected and they'd have wasted time.

Bookkeeping Service for Final Accounts

You need clean books and final accounts before striking off. Can't leave accounting in a mess - you need to know exactly what debts and assets exist.

Final bookkeeping includes:

• Close all accounting periods
• Reconcile bank accounts to zero
• Collect final receivables or write them off
• Pay final payables
• Dispose of or distribute assets
• Prepare final balance sheet showing zero assets and liabilities

If you haven't done bookkeeping in 2-3 years, we need to catch up before strike off. Can't strike off a company with unknown debts or mystery assets. Everything must be accounted for and cleared.

Chartered Accountant Clearance Expertise

Chartered accountants know how to properly close company accounts and clear all obligations. This expertise prevents strike off applications from failing.

Technical Clearance Issues We Handle:

Loss Carry-Back Claims: If final year shows losses, can carry back to prior years for tax refund. We calculate optimal claim before striking off.

Input Tax Recovery: Final expenses before cessation may have claimable input tax. We file final GST return claiming maximum recovery.

Asset Disposal: Company equipment or inventory must be disposed. If given to directors, deemed distribution must be properly recorded and taxed.

Contingent Liabilities: Pending warranty claims, potential legal issues - these must be resolved or insured against before striking off.

Tax Advisor Strategy for Clean Strike Off

Tax advisors plan strike off timing and structure to minimize final tax and maximize refunds.

Strike Off Tax Planning:

Timing of Cessation: When you cease business affects which tax year the final return falls into. Sometimes waiting a few weeks can improve tax position.

Asset Distribution: Giving company assets to shareholders before striking off can trigger tax. We advise on tax-efficient way to distribute remaining value.

Refund Claims: Companies with tax credits or GST refunds should claim before striking off. After dissolution, claiming is harder and costs more.

Related Company Impact: If you have other companies, striking off one company might affect group relief or other tax positions. We review full picture.

Incorporation and Restructuring Consulting

Sometimes strike off isn't the best option. If your company has value (tax losses, contracts, licenses), restructuring might preserve that value.

Alternatives to Strike Off:

Sell the Company: If company has tax losses or valuable licenses, another company might buy the shell. You get some value instead of just striking off.

Merge with Another Company: Transfer business to your other company, then strike off the empty shell.

Keep Dormant: If company might be useful later, keep it dormant instead of striking off. Costs $300-500/year for minimal compliance.

We advise on best option based on your specific situation. Sometimes strike off is obvious choice. Sometimes preserving the company makes more sense.

Corporate Tax Filing Before Strike Off

Your final corporate tax return is different from normal returns. It covers period from last year-end to date of cessation.

Final Tax Return Special Features:

• Covers partial year (if cessation mid-year)
• Final chance to claim capital allowances
• Can carry back losses to prior 3 years
• Must account for any asset distributions
• Marks company as "ceased business" with IRAS

After IRAS processes this final return, they issue clearance confirming zero tax owed. Only then can ACRA approve strike off.

GST Filing and De-Registration

GST-registered companies must de-register for GST before striking off. Can't have active GST registration on dissolved company.

GST De-Registration Process:

• Apply to IRAS for GST de-registration
• File final GST return up to de-registration date
• Account for all output tax and input tax
• Pay or receive refund for net position
• Wait for IRAS approval of de-registration

GST de-registration can take 4-6 weeks. Start this before applying for strike off. If you apply for strike off while still GST-registered, ACRA will likely reject because you haven't cleared obligations with IRAS.

ACRA Annual Return Filing Compliance

Your company must be up to date with ACRA annual returns before you can strike off. Outstanding annual returns = automatic rejection.

Annual Return Status Check:

• Log in to BizFile and check company compliance status
• See if any annual returns are overdue
• Pay any late filing penalties
• File all outstanding returns before applying for strike off

Companies often forget they have overdue annual returns from 2-3 years ago. These must be filed (with penalties) before ACRA will consider strike off application.

Financial Statements for Final Year

Final financial statements show company's position at date of cessation. Must prove zero assets and liabilities.

Final Financial Statements Must Show:

• All assets disposed or distributed (zero asset balance)
• All debts paid (zero liability balance)
• Bank accounts closed (zero cash)
• Final profit/loss for partial year
• Directors' confirmation of solvency

These statements support your strike off application. They prove to ACRA that nothing is left to wind up.

Handling Objections to Strike Off

After first gazette, anyone can object to strike off. Common objectors: unpaid suppliers, employees owed wages, landlords claiming property damage.

When Objection is Filed:

• ACRA pauses strike off process
• Notifies company of objection with objector's name and reason
• Gives company 2 months to resolve issue
• If resolved, objector withdraws objection in BizFile
• If not resolved, strike off application lapses

Objections are why we verify zero debts BEFORE applying. Prevention is easier than resolution. But if objection happens, we negotiate settlement and get withdrawal.

A trading company in CBD applied for strike off. Ex-employee filed objection claiming $5,000 in unpaid notice period wages. Company disputed this - employee had resigned voluntarily, no notice payment owed. We provided resignation letter and employment contract to ACRA. Showed no payment was due. ACRA reviewed and rejected the objection. Strike off proceeded. Sometimes objections are legitimate. Sometimes they're not. Either way, you need documentation to defend your position.

Strike Off vs Liquidation

Strike off works for clean companies with nothing to wind up. If your company has assets to sell or complex debts, you need liquidation instead.

When You Need Liquidation Instead:

• Company owes creditors significant money
• Company has valuable assets to sell and distribute
• Shareholders dispute how to distribute remaining value
• Company faces legal claims requiring formal wind-up
• Company is insolvent (can't pay debts)

Liquidation involves appointing licensed liquidator, costs $10,000-50,000+, takes 6-12 months. Strike off costs $800-2,000, takes 3-4 months. Strike off is much simpler if you qualify.

What Happens After Company is Struck Off

Once ACRA publishes final gazette, your company ceases to exist. Legal status ends immediately.

After Strike Off:

• Company cannot trade or conduct business
• Directors are no longer directors (position ends)
• Bank accounts cannot be operated
• Company name becomes available for others to register
• All company records should be preserved for 5 years
• Any assets automatically vest in government

If you later discover company had assets or someone comes after company for debts, company can be restored within 6 years by court order. This is expensive and complicated. Better to clean up properly before striking off.

Common Strike Off Mistakes to Avoid

Errors we see regularly:

Not Clearing IRAS Completely: Outstanding $200 penalty from 3 years ago. ACRA rejects strike off. Must clear every dollar owed to IRAS, no matter how small.

Forgetting About Bank Accounts: Company struck off while bank account still open with $5,000. Bank freezes account. Money becomes complicated to recover. Close all bank accounts before applying.

Not Collecting Tax Refunds: Company owed $8,000 tax refund. Struck off without claiming. Refund goes to IPTO. Extra hassle and fees to claim later.

Incomplete Director Endorsement: Two directors, but only one endorsed strike off application. Application lapses after 14 days. Must get all directors to endorse on BizFile.

What Company Strike Off Costs

• Simple dormant company: $800-$1,500
• Company with final returns to file: $1,500-$3,000
• Company with GST de-registration: $2,000-$3,500
• Company with complex clearances: $3,000-$5,000
• Handling objections: $1,000-$2,000 additional

Price includes:

• Pre-strike off compliance review
• Final tax return preparation and filing
• IRAS and CPF clearance
• GST de-registration (if applicable)
• Strike off application through BizFile
• Monitoring gazette publications
• Handling queries and objections
• Confirmation of final strike off

Compare strike off cost ($800-5,000 one-time) to ongoing compliance cost ($500-2,000 per year forever). If you're not using the company, striking off saves money long-term.

Why Companies Choose Us for Strike Off

"You found $12,000 in tax credit we didn't know about. Claimed it before striking off. Would have lost it otherwise."

"We tried DIY strike off. ACRA rejected for incomplete clearances. You fixed everything and got us struck off in 4 months."

"Supplier filed objection. You negotiated settlement and got them to withdraw. Strike off completed successfully."

"Three dormant companies struck off in one go. Saved us $1,500/year in ongoing compliance costs."

We're ACCA and SQP top graduates, ex-Big 4 audit managers, and Singapore Chartered Accountants. We've struck off 200+ companies for directors across Singapore. We know ACRA procedures, IRAS clearance requirements, and how to handle objections. We respond within 1 hour. We handle everything from clearances to final gazette.

Serving Company Directors Throughout Singapore

We help directors strike off companies across Singapore - from CBD corporates to Woodlands manufacturers, Jurong trading firms to Tampines service companies. Location doesn't matter for strike off - we handle everything remotely through BizFile.

Whether you have one dormant company or multiple entities to close, we can help. Contact us and we'll assess if your company qualifies for strike off and what clearances are needed.