Close the bank account before you strike off

Quick answer

When a company is dissolved, anything it still owns passes to the State, including money in its bank account. Pay out or transfer the balance, taking tax advice where needed, and close the account before the strike-off completes.

Why it matters

A dissolved company no longer exists, so it can't own anything. Its remaining property passes to the State. Getting money back means restoring the company, which costs far more than closing it properly. See RestoreMyCompany.ie.

What to do

  1. Pay any final bills, so the company's liabilities are €150 or less.
  2. Decide how the remaining balance leaves the company, for example as a dividend or a repayment of a director's loan, and take tax advice.
  3. Make sure the balance is €150 or less, the asset limit for a strike-off.
  4. Close the account and keep the closing statement.

If there's a significant sum to distribute, a members' voluntary liquidation may be more tax-efficient than a strike-off.

Last checked 13 November 2026 against CRO and Revenue guidance. This is general information, not legal advice for your company.