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PROCEDURES AND FORMS FOR A VOLUNTARY DISSOLUTION PURSUANT TO ARTICLE 10 OF THE NOTFORPROFIT CORPORATION LAW OF A NOTFORPROFIT CORPORATION WITH ASSETS ATTORNEY GENERAL ANDREW M. CUOMO Charities Bureau

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How to fill out voluntary dissolution

01

Gather all the necessary documents and information required for dissolution.

02

Create a resolution to dissolve the organization and obtain approval from the board of directors or shareholders, depending on the organizational structure.

03

File the dissolution paperwork with the appropriate government agency or department.

04

Notify all stakeholders, including employees, clients, suppliers, and creditors, about the dissolution.

05

Liquidate assets, pay off debts, and distribute remaining assets to shareholders or other designated recipients.

06

Complete all required tax filings and close any remaining accounts or contracts.

07

Officially dissolve the organization by obtaining a dissolution certificate or letter from the government agency.

Who needs voluntary dissolution?

01

Organizations that are no longer viable or have completed their intended purpose.

02

Non-profit organizations that are unable to sustain their operations or fulfill their mission.

03

Businesses that have incurred substantial financial losses and are unable to recover.

04

Companies facing insurmountable legal or regulatory challenges.

05

Organizations that have fulfilled their objectives or completed a specific project.

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What is voluntary dissolution?

Voluntary dissolution is the process by which a company decides to officially close and terminate its operations.

Who is required to file voluntary dissolution?

Any company that decides to dissolve voluntarily is required to file voluntary dissolution.

How to fill out voluntary dissolution?

Voluntary dissolution forms can typically be filled out online through the state's business portal or submitted in person at the state's business office.

What is the purpose of voluntary dissolution?

The purpose of voluntary dissolution is to formally end the existence of a company and liquidate its assets.

What information must be reported on voluntary dissolution?

Information such as the company's name, address, reason for dissolution, and signatures of company officers may need to be reported on the voluntary dissolution form.

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