The process of closing an old bank account can involve various regulatory considerations, and companies often wonder whether they need to inform the Authority of Planning and Investment when taking this step. Additionally, understanding the notification procedures, whether they can be completed online or require in-person submission, is crucial for businesses looking to streamline their financial operations. In this discussion, we will explore the necessity of informing the Authority of Planning and Investment when closing an old bank account and the specifics of the notification process, shedding light on the significance of compliance in financial matters.
Question:
Our company used to have a registered bank account with the tax authority. Additionally, currently, we have registered a new bank account and wish to close the old bank account. Furthermore, what is the procedure for closing the old bank account? Do we need to submit the request in person, or can we do it online?
Answer:
– If your company had previously submitted the information of the old bank account to the Business Registration Office, you should submit a “Notice of Change in Tax Registration Information” (form II-1 according to Circular 02/2019/TT-BKHĐT). In the form, you need to specify the content as “Close bank account number: old account number – bank name.”
– If the applicant submitting the dossier is not the legal representative, they must include a power of attorney along with a valid copy of their identification card, citizen identification card, or passport.
– You can submit the application online at the National Business Registration Portal: “www.dangkykinhdoanh.gov.vn/ online Services/ online Registration”.
Conclusion
In conclusion, the question of whether a company needs to inform the Authority of Planning and Investment in-person when closing its old bank account highlights the importance of regulatory compliance in financial transactions. While the specific requirements may vary by jurisdiction, it is essential for businesses to proactively seek clarity on these matters to avoid any potential legal complications. Prompt and accurate compliance, whether through online or in-person submission, is pivotal for maintaining financial transparency and adhering to regulatory standards. This approach ensures that companies can effectively navigate the complexities of banking procedures. This approach ensures that companies can navigate the complexities of banking procedures effectively while safeguarding their financial integrity.
HMLF is always available to offer assistance in understanding the procedures with authorities.
Harley Miller Law Firm “HMLF”
Head office: 14th floor, HM Town building, 412 Nguyen Thi Minh Khai, Ward 05, District 3, Ho Chi Minh City.
Phone number: +84 937215585
Website: hmlf.vn Email: miller@hmlf.vn
