ByUnderstanding DNFBPs and De-registration
DNFBPs are businesses and professions that, due to the nature of their activities, are susceptible to money laundering and terrorist financing. They are therefore subject to specific regulations under the Anti-Money Laundering Act, 2020. Examples of DNFBPs include:
- Real estate agents
- Lawyers (notaries public, independent legal professionals)
- Accountants
- Jewelers
- Dealers in precious metals and stones
De-registration means officially removing your business or profession from the DNFBP register maintained by the FBR.
Steps to Apply for DNFBP De-registration in IRIS:
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Access the IRIS Portal: Go to the FBR’s IRIS website and log in using your credentials (CNIC and password).
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Navigate to Registration: On the main dashboard, locate and click on the “Registration” tab.
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Find the De-registration Option: Within the “Registration” section, you should find an option specifically for “Application for De-Registration of DNFBP.” Click on this link.
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Fill out the Application Form: A new form will open. You will need to provide the following information:
- NTN/CNIC: Your National Tax Number or Computerized National Identity Card number.
- Business/Professional Name: The registered name of your DNFBP.
- Reason for De-registration: Clearly state the reason why you are seeking de-registration. Common reasons include:
- Cessation of business/professional activities.
- Change in business/professional activities that no longer fall under DNFBP categories.
- Merger or acquisition.
- Supporting Documents: You will likely need to upload supporting documents to justify your de-registration request. These may include:
- Proof of cessation of business (e.g., closure of business registration, cancellation of licenses).
- Evidence of change in business activities (e.g., updated business registration certificate, change in company articles of association).
- Merger or acquisition documents.
- Other Relevant Information: Any other information that may be relevant to your application.
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Review and Submit: Carefully review all the information you have entered in the form and the uploaded documents. Once you are satisfied, submit the application.
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Track Your Application: After submitting the application, you can track its status in the “Outbox” or “Completed Tasks” sections of your IRIS account. The FBR will review your application and notify you of their decision.
Related Articles:
How to Verify DNFBP Registration Status in Pakistan?
Important Considerations:
- Accuracy of Information: Ensure all information provided in the application and supporting documents is accurate and complete. Inaccurate information can lead to delays or rejection of your application.
- Supporting Documents: Provide all required supporting documents as specified in the application form. This is crucial for the FBR to process your request efficiently.
- Legal Advice: If you are unsure about the de-registration process or have complex circumstances, it is advisable to seek professional legal or tax advice.
By following these steps and providing the necessary documentation, you can successfully apply for de-registration of your DNFBP through the FBR’s IRIS portal. Remember to consult with a professional if you have any doubts or specific circumstances.
