When you close your business in the Philippines, it’s essential to also file for legal closure or change of business status with government agencies, such as Pag-IBIG or HDMF (Home Development Mutual Fund).
Other government agencies for you to process your business closure include BIR (Bureau of Internal Revenue), Philhealth, SSS (Social Security System), and the DTI (Department of Trade and Industry).
We’ve prepared this guide to help you close your business with Pag-IBIG.
Requirements to Prepare
Basic Requirements
- ECIF (Employer’s Change Of Information Form) (1 Original)
- Valid ID of the Authorized Signatory (1 Photocopy)
Additional Requirements
You’ll also need to provide additional requirements, depending on the type of your business ownership and the manner on which your business is being closed (temporary or final).
1. For Termination or Dissolution
For Single Proprietorship
Submit the following, whichever is applicable:
- Certification of Non-operational of Business from the Municipal or City Treasurer’s Office or BIR (1 Photocopy)
- Approved Application for Business Retirement from the Municipal or City Treasurer’s Office (1 Photocopy)
For Partnerships and Corporations
Submit the following, whichever is applicable:
- Deed of Dissolution approved by SEC (Securities and Exchange Commission) (1 Photocopy)
- Meeting Minutes approving the dissolution, certified by the Corporate Secretary (1 Photocopy)
- Certification of Non-operational of Business from SEC or BIR (1 Photocopy)
For Cooperatives
Submit the following, whichever is applicable:
- Dissolution of Cooperative duly received by CDA (Cooperative Development Authority) (1 Photocopy)
- Meeting Minutes approving the dissolution, certified by the Corporate Secretary (1 Photocopy)
- Certification of Non-operational of Business from CDA or BIR (1 Photocopy)
Due to the Owner’s Death
Submit the following, whichever is applicable:
- Death Certificate of the Owner issued by the PSA (Philippine Statistics Authority) or NSO (National Statistics Office) or LCRO (Local Civil Registry Office) (1 Photocopy)
2. For Temporary Suspension of Operations
Bankruptcy
Submit the following, whichever is applicable:
- Financial Statement (1 Photocopy)
- Board Resolution (1 Photocopy)
- Income Tax Return (ITR) for the year that your business is not in operation or had no earnings (1 Photocopy)
Demolition, Fire, or Flood
Submit the following, whichever is applicable:
- Certification from the municipality’s Fire Department (1 Photocopy)
- Certification from the City Hall (1 Photocopy)
- Separation paper of the last employee (1 Photocopy)
Separation of Employee/s
Submit the following, whichever is applicable:
- DOLE Establishment Report Form (RKS Form 5 of 2020)
- Any of equivalent form (as applicable) (1 Photocopy)
Strike
- Notice of Strike, duly licensed by the DOLE (1 Photocopy)
How to Process Your Business Closure
Step 1. Prepare the requirements listed above, whichever is applicable. It’s essential to prepare everything you need before heading off to the nearest Pag-IBIG office so you won’t waste your time.
Step 2. Double check your requirements.
Step 3. Go to the Pag-IBIG office and submit your documents.
Step 4. Pay for fines, charges, delinquent loans, or other surcharges that you owe Pag-IBIG so they can process your application for business closure and provide you with the clearance.
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