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07August2015

The Insurance of Company Shareholders

With the merging of the improving technological infrastructure and the audit culture, controls and investigations have started to be made more often and more effectively. In the context of this article, we will shortly touch briefly to the subject, that many company shareholders face penalty risks.

In case you become a shareholder or join the Board of Directors inside the company, where you have been working as insured (4A) your insurance would subsist without any obligation to register to Bağkur – Pension Fund (4B). However, this situation has changed as of 01.10.2008 imposing an insurance obligation on company shareholders within the scope of 4B (Bağkur). If you become a shareholder or join the Board of Directors inside the company a company after this date, you will be obliged to be registered for insurance under 4B (Bağkur – Pension Fund). However, it is realized that, many shareholders / board members are insured under 4A in their own companies, whereas they are required to be registered for insurance under 4B. This situation has later on recognized and amended by many shareholders and board members. However, SSI imputes penalties retroactively for the misapplications in this regard. Within this priod, the relevant notifications and declaration have been started to be sent out to the shareholders and those concerned.

The shareholders / board members insured under 4A instead of 4B are notified to conclude their regstrations under 4B for relevant periods. Some of these notifications are sent along with accrued penalties.

Due to the faulty process, premium debt will arise following the 4B insurance registration of company shareholders. Also, because of being registered for insurance under 4A and its premiums having been made, these paid premiums can be offsetted with the new debt arising from 4B. This way, the cost to bear due to the faulty process can be minimized.

Author Selma Kıy, Category Social Security Law and Legislation

About The Author

Selma Kıy

Certified Public Accountant - SMMM
/tr/mevzuat/item/sirket-ortaklarinin-sigortaliligi

Other Legislation

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