Closing a VCC depends on whether the vehicle is inactive and debt-free, whether it has debts to settle, and whether the closure concerns the VCC itself or a sub-fund of an umbrella VCC.
At a glance
- A VCC may be struck off if it is inactive and meets the relevant criteria.
- A VCC with debts to settle generally goes through winding up.
- From 1 April 2026, winding up and receivership follow the Insolvency, Restructuring and Dissolution Act 2018 framework.
- Sub-fund closure raises additional investor, asset segregation and tax clearance questions.
Striking off
Striking off is generally for a VCC that is inactive and debt-free and meets ACRA’s criteria. It removes the VCC from ACRA’s register after the process is approved and completed.
Before applying, directors should confirm there are no unresolved assets, liabilities, investor claims, tax issues, service provider invoices or regulatory matters.
Winding up
Winding up is the formal process for closing a VCC that has debts to settle. ACRA describes three routes: members’ voluntary winding up, creditors’ voluntary winding up and compulsory winding up by the court.
ACRA also notes an important date: before 1 April 2026, winding up and receivership followed the Companies Act with modifications under the VCC Act; on or after 1 April 2026, winding up and receivership follow the Insolvency, Restructuring and Dissolution Act 2018 framework.
Sub-fund closure
Closing a sub-fund is not the same as closing the umbrella VCC. The manager should identify investors in the relevant sub-fund, settle or transfer assets and liabilities, complete required filings and preserve records showing that the sub-fund was treated separately.
Tax clearance, GST claims, stamp duty and investor redemption mechanics should be checked before the final closure steps are taken.
Closure checklist
- Identify whether the VCC is solvent, insolvent, inactive or still holding assets.
- Separate VCC-level issues from sub-fund-level issues.
- Check service provider termination provisions and investor notices.
- Confirm ACRA, IRAS and MAS-related obligations before final filings.