Guidelines for Termination of Business.Pdf

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GUIDELINES ON TERMINATION OF BUSINESS Business may be terminated for the following reasons: 1. Cessation of the business 2. Bankrupt 3. Death of the owner 4. Pursuant to Court Order

Business Termination Procedure 1. 2. 3. Complete the Notice of Termination for Registered Business (FORM C) Every business owner and partner must sign the completed Form. Person responsible must submit the application to counter or through online via CCM e-Lodgement services in the SSM’s website at www.ssm.com.my. Documents to be attached are as follows: a) b) c) d) e) Business Registration Certificate; Photocopy of owner and/ or partner’s identity card; Photocopy of death certificate in the event of termination upon the death of owner or an associate partner; A copy of the court order if termination has been ordered by court; and Relevant documents if the owner has become bankrupt.

4.

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

2. 3.

Registered business that has not expired is allowed to submit Notice for Termination of Registered Business. Submit the Notification as a result of death within four (4) months from the date of demise.

Registration Fee 1. 2. Notification of Termination of Registered Business – No fee Business Information Print-out – RM 10.00

General Guideline 1. 2. 3. Result of application can be obtained within fifteen (15) minutes from the time submission is made. Confirmation Letter on expired business can be requested from SSM with a payment of RM10.00. 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.

 

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