IOAZ Business Cessation in Rijswijk

IOAZ Business Cessation in Rijswijk

IOAZ business cessation means the complete and permanent shutdown of your self-employed business in Rijswijk as a condition for receiving benefits under the Income Provision Act for Older and Partially Disabled Self-Employed Persons (IOAZ). This safety net supports local entrepreneurs aged 55 or older who close their business and are left without income. Discover everything here about conditions, steps, and tips, including assistance from agencies in Rijswijk.

Legal Basis for IOAZ Business Cessation

The IOAZ is governed by the Income Provision Act for Older and Partially Disabled Self-Employed Persons. Key rules for business cessation are set out in Article 7 IOAZ: your business in Rijswijk must be fully discontinued, with no profit-making activities. Article 8 IOAZ covers winding-up matters, such as the sale of business assets and debt settlement.

This scheme supplements the AOW entrepreneurs' scheme (ex-FOR) where it falls short. The UWV verifies whether the cessation is 'factually and legally' complete, in line with the IOAZ Policy Rules. In Rijswijk, you can seek advice on this procedure from Het Juridisch Loket Rijswijk.

Conditions for IOAZ after Business Cessation in Rijswijk

To qualify for an IOAZ benefit after cessation, you must meet these requirements:

• Age: At least 55 years at the time of cessation.
• Self-employment: At least 10 uninterrupted years, including the last 5 years before cessation.
• Complete cessation: No restart within 5 years (Article 16 IOAZ).
• Income: No unemployment benefits, social assistance, or alternatives; below social assistance level.
• Activities: Participation in economic life with a profit motive.

The UWV checks via KvK deregistration, tax returns, and bank records. Incomplete cessation results in rejection. The Municipality of Rijswijk can assist with income assessments.

What Exactly Constitutes Complete Business Cessation?

A thorough business cessation in Rijswijk includes:

1. Deregistration from the KvK.
2. Sale or disposal of inventory, equipment, and premises.
3. Settlement of debts and archiving of records.
4. No further invoicing or customer solicitation.

Example: A self-employed IT professional from Rijswijk sells office equipment, deregisters from the KvK, and takes no new jobs—this qualifies. Occasional side income leads to rejection.

Application Procedure for IOAZ after Cessation

Apply via the UWV:

1. Prepare: Gather KvK proof, invoices, and income data.
2. Submit: Within 8 weeks after cessation using the UWV 'IOAZ Application' form.
3. Assessment: Decision within 8 weeks; possibly an interview or inspection.
4. Payment: Monthly until AOW age, with periodic reviews.

Amount: Approximately 70% of the minimum wage, customized.

Practical Examples from Rijswijk

Example 1: Ms. De Boer (59), florist in Rijswijk since 1998, ceases due to health reasons. Deregistered from KvK, shop sold, IOAZ approved until AOW.

Example 2: Mr. Van Dijk (57), local contractor, ceases but rents out machinery. UWV rejects: ongoing income source.

Example 3: Rijswijk web shop owner (56) closes but restarts quickly. Result: benefit withdrawn and penalty.

Rights and Obligations under IOAZ in Rijswijk

Rights:

• Poverty protection until AOW.
• Right to be heard and objection (Article 4:7 Awb).
• Exemption for disability (Article 3 IOAZ).

Obligations:

• Provide proof of cessation.
• Report changes (income, partner).
• No new business for 5 years.

FAQs on IOAZ in Rijswijk

Tips for Business Cessation in Rijswijk

• Consult Het Juridisch Loket Rijswijk for free advice.
• Check with the Municipality of Rijswijk for local social assistance options.
• Document everything for the UWV.
• Consider a financial advisor for asset sales.
• Notify KvK promptly for deregistration.