Are you planning on applying for business closure with the SSS (Social Security System)? We’ve got you covered in this article.
It’s important to apply for legal business closure in the Philippines so you won’t pay fines, various charges, or even taxes when you’re shop is no longer in operation.
Requirements for Business Closure with the SSS
The requirements can depend on what type of office or business you’re closing:
Closure of an Employer Main Office (Single Proprietorship)
The primary requirement:
- Approved Application for Business Retirement or Closure from your Municipal or City Treasurer’s Office
If this isn’t available, you can submit any two (2) of these requirements:
- Contribution Collection List (SS Form R-3) that shows the separation of employee/s; make sure that this is received by the SSS within the first 10 days of the month following the applicable quarter
- Certification of Non-operation of Business from your Municipality or City Treasurer’s Office or BIR (Bureau of Internal Revenue) (here’s a guide for business closure with the BIR)
- Certification of Cancellation of Registration from the DTI (Department of Trade & Industry) (here’s a guide for business closure with the DTI)
- Lease contract or joint affidavit of termination of your lease contract
- Certification of Cancellation of Franchise from the LTFRB (Land Transportation & Franchising Regulatory Board), if applicable
- Certification from the PCAB (Philippine Contractors Accreditation Board), if applicable
- Death certificate registered with the LCR (Local Civil Registrar) or issued by the Philippine Consul (in the event of the registered owner’s death)
Closure of an Employer Main Office (Corporation/Partnership/Cooperative)
This is the main requirement:
- Certificate of Filing of Articles of Dissolution or the Cancellation of Registration issued by the SEC (Securities & Exchange Commission) or CDA (Cooperative Development Authority)
If this isn’t available, you can submit any two (2) of these requirements:
- Audited Financial Statements and ITR (Income Tax Return) showing non-operation or no earnings for the applicable period/s that you filed with the SEC or BIR within the prescribed period
- Board Resolution approving the business operation’s termination, adopted within the prescribed period; this must be duly acknowledged and received by regulatory agencies (e.g. BIR, SEC, etc.)
- Contribution Collection List (SS Form R-3) that shows the separation of employee/s; make sure that this is received by the SSS within the first 10 days of the month following the applicable quarter
- Notification of business termination or cancelation duly received by the BIR or SEC within the prescribed period
Closure of an Employer Branch Office
You need to submit either of the following:
- Certificate from your employer’s main office about the non-operation of your employer branch
- Approved Application for Business Retirement or Closure
Process
- Gather all the requirements and make sure to make at least two copies of each one so you can also have backup files.
- Go to the SSS office where your business is registered to file for closure.
- Settle all delinquencies, penalties, etc.
- Wait for your SSS clearance to be released.
Joy is a licensed chemist who left the lab for love! A certified bookworm who also loves to write, she chose to become a writer to pursue her passion and also have more time for her husband and kids. She’s the site’s pioneer writer.
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