What are regulations on closing account that is opened at the Vietnam state treasury?

What are regulations on closing account that is opened at the Vietnam state treasury? (Image from the Internet)

The closing account that is opened at the Vietnam state treasury is specified in Clause 2, Article 11 of Circular 18/2020/TT-BTC as follows:

Closing account

- An account shall be closed in any of the following cases:

+ The registrant is acquired or dissolved.

+ The registrant applies for change of the place where the account is registered and used.

+ The project has its final statement approved, has debts receivable and payable settled according to the estimate approval and has the advance paid back as prescribed.

+ The registrant makes such a request for closing account.

+ The account has not been active for 24 consecutive months (except for the account of disbursement of investment capital).

- Closing accounts

The applicant will send an application for closing account (stating the name of VST where the account is opened, applicant’s details: name, the account, details about establishment such as number, issuing authority, date of issue; superior body; full name of account holder, chief accountant, number and date of the appointment of account holder or chief accountant and signature of the account holder or authorized person thereof) together with a balance confirmation sheet to the VST in person or through the public service named “Closing account of registrant at VST” as prescribed in Appendix III issued together with this Circular in case the Ministry of Finance has launched this public service.

- The VST shall notify the account holder (or its superior body if the mentioned registrant has been dissolved) of the balance of the account to be closed in writing; if the balance is still positive derived from the state budget and the account holder has raised no objection within 30 days since the notice is sent, such balance will be transferred to the state budget by the VST.

- If the account proposed to be closed is still positive, the account holder must send relevant documents to VST to process it.

- The VST may only close an account when its balance reaches zero.

Best Regards!