FAQs on Striking Off

No. Description
1 What are the criteria which must be satisfied for striking off?
  All of the following criteria must be satisfied before a company can apply to be struck off:

  • the company has stopped trading or has not conducted business since the date of incorporation
  • has no outstanding tax liabilities with Inland Revenue Authority of Singapore (IRAS)
  • is not indebted or owing money to any government departments
  • Has no outstanding tax liabilities with Inland Revenue Authority of Singapore (IRAS) 
  • is not indebted or owing money to any government departments 
  • has no outstanding charges in the company’s charge register must not be involved in or be threatened with any court proceedings within or outside Singapore
  • has no current or contingent assets and liabilities
2 If a waiver for the submission of the company’s Income Tax Returns is granted by IRAS, does it mean that the company is also not required to inform ACRA?
  No, the company still needs to inform ACRA about its dormant status by making an application for striking-off if it intends not to continue business.
3 Before applying for striking-off, what company needs to do?
  The company has to ensure the following:

  • all outstanding Income Tax Returns (Form C/ Form C-S) have been submitted;
  • accounts and tax computations have been submitted up to the date of cessation of business
  • no outstanding tax matters (e.g. queries raised by IRAS, objections to assessments, payments, etc); and
  • GST registration has been cancelled and there are no outstanding GST matters.
4 If a company has been struck-off, how long does it require to keep its statutory records?
  The company shall retain the records pursuant to Section 199(2) of the Companies Act, Cap. 50 for a period of not less than 5 years from the end of the financial year in which the transactions or operations to which those records relate are completed.