Dissolve foundation

Unline dissolve a foundation for €199

When a foundation has achieved its purpose, dissolving it is the final step. Dissolving a foundation is a decision that has to be taken by the board. As a board, you want to ensure that everything is brought to a proper conclusion without any open ends. Opheffen-bv.nl offers a full service package: we guide you through the dissolution process by phone or e-mail and make sure you go through all the legally correct steps together with the proper documentation.

In what ways can I dissolve a foundation?

This can be done through a regular “liquidation Foundation” or an accelerated liquidation or the “turbo-liquidation foundation“.

1. Liquidation Foundation

If the Foundation still has property (assets or assets), it cannot be turbo liquidated. A Foundation must then go through a regular liquidation process.

This means that, after the board has decided to dissolve the Foundation, the Foundation is in liquidation for a time. During this period, also known as the liquidation period or liquidation, the name of the Foundation must appear “in liquidation“ after the name of the Foundation in all correspondence. This is a legal requirement, failure to comply is an economic offence.

If you want to liquidate a Foundation, a notary is not required.

In a regular Foundation liquidation, one or more liquidators are always appointed. The liquidator is the (legal~) person or persons who take care of the distribution of the remaining assets. This is usually the director of the Foundation. Only when all debts have been paid and the Foundation’s liquidation period is over, the liquidator distributes the remaining capital to a purpose equivalent to the purpose of the Foundation.

The liquidator is responsible for preparing the Foundation’s accounts and these must be filed with the Chamber of Commerce. The liquidator must also take care of a public announcement of the Foundation in liquidation. This takes the form of an advertisement in a nationally circulated newspaper stating where and when the books and records of the Foundation are available for inspection by interested parties.

For a period of at least two months, the Foundation’s accounts and records must be available for inspection at the Chamber of Commerce. During this period, any creditors or other interested parties can object to the liquidation; they must file this objection with the competent court. Only once this objection period has expired can the liquidator proceed with the distribution and distribution of any remaining assets or income.

Dissolution of foundation roadmap

The regular dissolution of the foundation consists of some 13 steps. Dissolve-BV provides all these steps together with the appropriate legal documents.

2. Turboliquidation Foundation

In the event that a Foundation has no assets or debts (neither assets nor liabilities), it can be turboliquidated. Here, it is important that the Foundation’s balance sheet is at zero, and therefore there should be no assets or liabilities left on the balance sheet. Here, note that the Foundation no longer has any employees or ongoing agreements or contracts. There may also be licences issued or long-term liabilities that have been forgotten. If all these conditions are met, a turboliquidation can be carried out.

Accelerated winding up consists of five steps. Wind-up-BV provides all these steps together with the appropriate legal documents.

Statutes Check

Before dissolving the foundation, the board should check the articles of association. A foundation’s articles of association state how and under what conditions it may be dissolved. In most cases, this means that there must be a majority of votes from the board before it can be dissolved.
A foundation can only be dissolved on the day of signing or at a later date. It is important to know that a foundation can never be dissolved at an earlier date. A dissolution decision is therefore irrevocable. It can only be reversed in special cases and with the intervention of a court.

Surplus on the balance sheet

The liquidator is responsible for settling the foundation’s accounts. If, after paying off debts and collecting funds, there is still money on the balance sheet, the remaining amount should be distributed in accordance with the articles of association. The liquidator then draws up the accounts showing how this money will be distributed. If there are several beneficiaries, this is also stated in this document. If the foundation is “in liquidation”, the liquidator must file the account and justification with the Chamber of Commerce for inspection.

Deficit on the balance sheet

The moment there are deficits on the balance sheet, which can no longer be met by the available assets, the liquidator must draw up a declaration of bankruptcy. This expires the moment creditors agree to continue the liquidation without bankruptcy. If this is the case, Opheffen-bv can help you with this.

Books and records

Once the balance sheet is at zero and the BV, a custodian should be appointed. This is usually one of the directors. The custodian has a legal obligation to keep the books and records for a period of seven years.

Dissolve the foundation and deregister with the Chamber of Commerce

Once the dissolution decree has been signed and the foundation’s liquidation has been completed, the foundation must be deregistered from the Chamber of Commerce. This is done by means of a form. This form, including a copy of the dissolution decree, should be sent to the nearest office of the Chamber of Commerce. Opheffen BV will gladly prepare these documents for you.

Dissolve Foundation

Would you like more information about dissolving a foundation or would you like to leave the step-by-step process to experts. Then contact us using the form on the right. You can dissolve a foundation through us from as little as €199 (excluding VAT) with no additional costs.