Company struck off: what happens to the bank account and assets
When a company is struck off it's dissolved: it no longer legally exists. Its bank accounts are frozen, and any property or money it held passes to the State. Restoring the company brings the assets back, as if it had never been struck off.
The company stops existing
Strike-off dissolves the company. In law it no longer exists, so it can't trade, hold a bank account, own property, sign contracts, or sue or be sued.
The bank account
Banks freeze the accounts of a dissolved company because they can't deal with a company that doesn't exist. Payments in and out stop. Once the company is restored, the bank will usually reopen the account when you show it the restoration confirmation.
Property and money pass to the State
Any assets left in a dissolved company, including cash, property and investments, pass to the State. This is why the Chief State Solicitor's Office is a notice party to court restorations: the State is giving the assets back.
Contracts, leases and insurance
Contracts, leases and insurance in the company's name can be put at risk. Insurers may refuse claims, and landlords or customers may treat agreements as ended.
The directors
Anyone who keeps trading through a dissolved company can be personally liable for its debts. Directors of companies struck off for not filing can also face restriction or other enforcement action.
Getting it all back
On restoration, the company is treated as if it had never been struck off, and the assets that passed to the State return to it. That's often the reason restoration is worth doing, even years later. Use our restoration checker to see your route.
Last checked 13 November 2026 against CRO and Revenue guidance. This is general information, not legal advice for your company.