How to close an IP if activity was not conducted

Small business is developing well in the Russian Federation. The government in every way contributes to its promotion. Individuals who engage in entrepreneurial activity without the formation of a jur. persons are called IP (individual entrepreneur).

What is an IP?

IP (individual entrepreneur) is a form of doing business “on bail” of movable and immovable property owned by a businessman. An exception is understood only as property that, according to the law of the Russian Federation on debt collection, does not fall under this same collection. If we compare the IP with the LLC (limited liability company), then the IP in the event of force majeure gives the state all the property, and the LLC only a share that makes up a percentage of the shareholder in the authorized capital.

A private entrepreneur can engage in any type of activity for which a license has been obtained at a state institution. When registering an IP, an individual should contact the tax authority. There he will receive a registration number and will be able to get to work. If the tax documentation is submitted personally by an individual, then notary certification of all certificates and papers is not required.

Previously, a private entrepreneur was required to submit a quarterly report, but recently, this action is not mandatory, only when deciding to suspend entrepreneurial activity in tax it is necessary to provide reporting materials and a certificate of deductions from the Pension Fund of the Russian Federation.