How do I close my LLP bank account?

The following procedure can be followed for closing a LLP by filing Form 24:

1. Step 1: Cease Commercial Activity.
2. Step 2: Close Bank Account(s)
3. Step 3: Prepare Affidavits & Declaration.
4. Step 4: Prepare Documents.
5. Step 5: File Any Pending Documents.
6. Step 6: Obtain Chartered Accountant Certificate.
7. Step 7: File LLP Form 24.

Can I close my current account online?

You cannot close your bank account online. You need to visit your home branch where you opened the account. So you need to walk into the home branch where you have an account and request them for account closure.

Can I close my current account?

For closing your account, you need to visit that branch of the bank where you had opened the account. One should close the account only if he/ she really doesn’t need it in future, as banks generally don’t allow to re-open a closed account.

Can we close LLP without annual filing?

Provisions of Strike off of LLP are given in clause (b) of sub rule 1 of Rule 37 of LLP Rules 2008. As per rules, there is no provisions for exemption from the filing of e-form LLP- 8/ 11 for strike off of LLP. Therefore, every LLP have to complete annual filing before strike off of LLP.

What happens if I don’t close my current account?

An inoperative bank account entails a penalty, which depends on the concerned bank’s policy. The penalty holds true only during the period when the account is non-operational. This charge is levied on an annually and isn’t a lot. Also, customers are penalized if the minimum account balance is not maintained.

What happens when you close current account?

While the actual closure of a bank account won’t impact your credit, it’s possible for it to indirectly impact your credit score if the account had a negative balance when it was closed. If this happens, you may need to opt for second-chance bank accounts or prepaid debit cards.