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 Do dormant sole proprietor company need to close, Company not doing business anymore

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TSankw
post May 8 2020, 07:27 AM, updated 6y ago

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Does dormant sole proprietor company need to close?

It have being dormant for quite sometime. No business anymore

Do the owner need to go to ssm to close the company or no need just leave it?
Online can terminate company but for the first time activation need to go ssm to active online account.

If no need to go ssm to terminate then just leave it can or not?

Anyone know any info on how to go about it?
acbc
post May 8 2020, 07:33 AM

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After expiry, automatically terminated by SSM. My old company registered since 2009 got terminated after it expired in 2017. I appealed but got rejected. Had to register a new company and start over.
TSankw
post May 8 2020, 07:42 AM

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General Guideline
1. Business Termination to be registered within thirty (30) days from the
date of business termination.

2. Registered business that has not expired is allowed to submit
Notification of Termination of Registered Business.
3. Submit the Notification as a result of death within four (4) months
from the date of demise.
4. Confirmation Letter on expired business can be requested from SSM
with a payment of RM10.00.
5. Result of application can be obtained within fifteen (15) minutes from
the time submission is made

6. Any person who being a person responsible for his business or a
personal representative or next-of-kin or a remaining partners fails to
file a notice of termination where a business has been terminated
commits an offence and shall on conviction be liable to a fine not
exceeding RM10,000 or imprisonment for a term not exceeding one
(1) year or both
Divou
post May 8 2020, 08:15 AM

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One year after the date of expiry, your registration will automatically be terminated.
ColtPython
post May 8 2020, 08:55 AM

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Yeap. had gone through that experience before.
SSM counter said auto terminated if dormant.
TSankw
post May 8 2020, 10:21 AM

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QUOTE(ankw @ May 8 2020, 07:42 AM)
General Guideline
1. Business Termination to be registered within thirty (30) days from the
date of business termination.

2. Registered business that has not expired is allowed to submit
Notification of Termination of Registered Business.
3. Submit the Notification as a result of death within four (4) months
from the date of demise.
4. Confirmation Letter on expired business can be requested from SSM
with a payment of RM10.00.
5. Result of application can be obtained within fifteen (15) minutes from
the time submission is made

6. Any person who being a person responsible for his business or a
personal representative or next-of-kin or a remaining partners fails to
file a notice of termination where a business has been terminated
commits an offence and shall on conviction be liable to a fine not
exceeding RM10,000 or imprisonment for a term not exceeding one
(1) year or both
*
if leave the company dormant until expiry is it ok to do so

but the ssm guidelines condition above need to terminate or else get commit an offence and get fine. IS it true?
kluseng
post May 8 2020, 12:02 PM

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QUOTE(ankw @ May 8 2020, 10:21 AM)
if leave the company dormant until expiry is it ok to do so

but the ssm guidelines condition above need to terminate or else get commit an offence and get fine. IS it true?
*
There is no enforcement and it is basically unenforceable. You can always say your business is dormant, not terminated and who is to say otherwise?

 

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