Guides and updates from the RestoreMyCompany.ie team.
What Happens When Your Company Is Struck Off?
Strike-off isn't just paperwork. The company stops existing, its bank account is frozen and its assets pass to the State.
When the CRO strikes a company off the register, the company is dissolved. In law it no longer exists, and that has immediate practical effects.
Its bank accounts are frozen, because the bank can't deal with a company that doesn't exist. Any money, property or other assets left in the company pass to the State. Contracts, leases and insurance policies held in the company's name can be put at risk, and the company can't sue or defend a claim.
Directors can also be exposed. Anyone who keeps trading through a dissolved company may be personally liable for its debts, and directors of companies struck off for not filing returns can face restriction or enforcement action.
The good news is that most companies can be restored. Once restored, the company is treated as if it had never been struck off, and its assets return to it. The sooner you act, the simpler and cheaper restoration is.
CRO Restoration or Court Restoration: Which Do You Need?
The route depends on one date: how long ago your company was struck off.
If your company was struck off less than 12 months ago, it can usually be restored directly through the CRO. This is called administrative restoration. It's done on Form H1 with a €300 CRO fee, and every outstanding annual return must be filed with it.
If more than 12 months have passed, administrative restoration is no longer possible. The company must be restored by court order, and the application must be made within 20 years of dissolution. The CRO, Revenue and the Chief State Solicitor are all notified and must consent, which is why the court route takes longer and costs more.
In both cases, the company's filings have to be brought up to date. If the company was struck off at Revenue's request, its tax returns must also be filed and Revenue must confirm it has no objection.
If you're close to the 12-month mark, act now. Missing it moves you from a quick CRO application to a court process.
Struck Off at Revenue's Request? Here's How to Get Back
If Revenue asked the CRO to strike your company off, restoration needs one extra step: a letter of no objection from Revenue.
Most companies are struck off by the CRO for not filing annual returns. But Revenue can also ask the CRO to strike off a company that hasn't filed its tax returns.
In that case, restoration has an extra condition. Before the company can be restored, its outstanding tax returns must be filed and Revenue must confirm in writing that it has no objection to the restoration.
In practice, that means gathering the company's records, preparing any missing corporation tax and other returns, and dealing with Revenue on the company's behalf. Only then can the restoration application go ahead, through the CRO or the courts depending on how long ago the strike-off happened.
We handle the Revenue side as part of our restoration service, so the whole process is managed in one place.