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Bankruptcy-cant withdraw EPF age 55 ?

New MessageBankruptcy-cant withdraw EPF age 55 ? (modified 0 times) Miss Lau
My father age 54 now and facing bankruptcy soon. Since bankrupcy person cant have bank account, surely he will not able to draw his EPF after age 55. Can He put my name as beneficiary ? (hoping that when he has passed away, I still manage to take over his fund in the future and take care of my mum) will the bank or bank negara seize his EPF contribution ?

Really need some one advice ........please

19 Sep, 2008 17:39:54

New MessageRE:Bankruptcy-cant withdraw EPF age 55 ? (modified 0 times)
Seen todate are your GOOD DAY,bringing a good news to you ,solve the trouble in good,
When the date has coming in ,your father can withdraw in cash on EPF Fund
with Insolvency Dept.on bankruptcy declaration letter,
Hope you inform those with the same issue about it,.,.
19 Sep, 2008 23:10:27

New MessageRE:Bankruptcy-cant withdraw EPF age 55 ? (modified 0 times) miss lau
Dear Jeff,

Please explain in more detail, what is the meaning of "bankruptcy declaration letter"?
how & where to apply ?

You mean my father can withdraw his EPF at age 55, how come ?

20 Sep, 2008 16:30:37

New MessageRE:Bankruptcy-cant withdraw EPF age 55 ? (modified 0 times)
The bankruptcy declaration letter is a letter comfirm such person in bankrupt list,
it issue by Insolvency Dept.
So he / she are not allow holding an account in any bank,
than the banker will cash the chequse to him / her,.,.
20 Sep, 2008 23:10:07

New MessageRE:Bankruptcy-cant withdraw EPF age 55 ? (modified 0 times) miss lau
Thanks a lot of your valuable information, it's really cheer me up a lot !

If my father was not sue bankruptcy, but only black listed then how ? I knew that he can withdraw EPF but without a bank account also useless, your advice please ......

23 Sep, 2008 17:15:39

New MessageRE:Bankruptcy-cant withdraw EPF age 55 ? (modified 0 times)
If your father in blacklist ONLY,that become in easily cause BLACKLIST means
such person NOT repond in debt or in good repond,.the banker CAN"T take action to him/her without court order,.
So WHAT are your problem ?????
23 Sep, 2008 18:19:07

New MessageRE: Bankruptcy - can withdraw EPF age 55 ? (modified 0 times) Cynthia
Dear Jeff,

Some questions to ask you:

(1) You said once getting the bankruptcy letter from the Insolvency Dept,
a bankrupt can cash the cheque(EPF money)at the bank. I thought the Insolvency Dept
has the right to withhold the cash money to settle the bankrupt's debts first and
if any balance, then it is given to the bankrupt. Is this true?

(2) I am now owing a bank RM20,000 and am sued by the bank to attend court some time
next month. What are the possible court judgements on me when I attend? If I tell the
judge I can only afford to pay RM30 every month to pay my debt, will the court accepts
it? If I say, I can't afford at all, what is the judge going to do with me? Pls advise.
Is it good to attend the court? Thanks a lot,Jeff. You have been helping many people
who are desperate to know the correct answers.


23 Sep, 2008 19:58:31

New MessageRE:Bankruptcy-cant withdraw EPF age 55 ? (modified 0 times) Miss Lau
Dear Jeff,

I call EPF Board asking about if my dad is black listed only,they told me that if he was black listed in Bank A, he can still open a new a/c at Bank B, then he can withdraw EPF and bank-in. Is that true ?

your urgent advice please ....

24 Sep, 2008 15:00:14

New MessageRE:Bankruptcy-cant withdraw EPF age 55 ? (modified 0 times)
YES,as advice above in BLACK liat ONLY effect on future loan item i.e housing,car.personal,
it NOT consert as Bankruptcy so the banker CAN"T take action without court order,.,.
BUT makesure he NOT bank-in the chequse into debtor bank otherwise the banker will reduct the debt,.
PLS,remmember to giving helpful hand with same issue,.
24 Sep, 2008 15:49:01

New MessageRE:Bankruptcy-cant withdraw EPF age 55 ? (modified 0 times)
Q 1.Bankruptcy NOT effect on EPF,.
Q 2.You had to attend the court,DON"T worry NO jail take place,
How much you pay on debt,the acceptance on the banker ,
If NOT agree on such payment ,banker were petition to court arrange on salary slip ,
than have to posting your income by court order,or petition sold off WHAT ever under your name for debt payment,.
24 Sep, 2008 16:10:06

New MessageRE:Bankruptcy-cant withdraw EPF age 55 ? (modified 0 times) Miss Lau
Dear Jeff,

From your information given above, proof that you're really experience in this case not like others just add more miserable & blur answer. It really helps to solve my present problem and I can sleep well tonite.

Thanks a lot, we really need some one like you to give us honest answer & helps, thanks again.

24 Sep, 2008 17:18:12

New MessageRE: Bankruptcy- can't withdraw EPF age 55 ? (modified 0 times) Kalimantan
Dear Jeff,

Thank you very much for all your contributions to this forum.

I am attending court this month as the bank has sued me for debt owing
to them. The debt is RM20,000. What are the judgement possibilities
that could happen to me? For example like what if I can and what if I
cannot afford to pay? What is the best way to answer the judge?

In fact, I have to attend a few courts on different dates because
of debts owing to different banks. What must I bring along to the court
besides the summon letter from the prosecuting lawyer?

30 Sep, 2008 17:59:41

New MessageRE:Bankruptcy-cant withdraw EPF age 55 ? (modified 0 times) marry
Dear Kalimantan,

First of all i want to ask you some questions...
The bank has sued you due to owing the debts is RM 20,000.00.

Is it total amount from one bank or from different bank..?

Bcos i also have debts from many bank..but the total not much...
Could you inform me the total is from one bank or total from other different bank..?


01 Oct, 2008 10:37:22

New MessageRE: Bankruptcy - can't withdraw EPF age 55 ? (modified 0 times) Kalimantan
Dear Marry,

The debt RM20,000 is from one bank.
Note: Normally banks do not joint sue
to bankrupt a person by jointly totaling
the debts to RM30,000 due to complication
of the recovery of debts.

If you are owing a bank much less than
RM30,000, the bank cannot sue you bankruptcy
except obtaining a judgement from the court.
Meaning to say, for a person to be sued
bankruptcy or declare bankruptcy, minimum
amount is RM30,000 in Malaysia.

After the judgement is obtained, what type
of judgement to be executed later would depend
on the court's decision like possessing/seizing
of properties or if it is a company, maybe a WSS
(Writ of Seizure & Sales) is invoked.

15 Oct, 2008 13:05:26

New MessageBankruptcy - can't withdraw EPF age 55 ? (modified 0 times) Kalimantan
Dear Miss Lau,

Confirmed - EPF & pensions are NOT affected
when a person is a bankrupt. The money belongs
to the EPF retiree at age 55 and the pensioners.

Understand a bankrupt may not have a bank account.
Never mind about it. Just give an authorized letter
to EPF to deposit the money into another bank account
belongings to your spouse or children. That is all.

Actually, by permission from Jabatan Insolvensi Malaysia,
(JIM) a bankrupt still can open a bank account but not safe
to deposit the EPF money into the bankrupt's bank account
because if you are not careful, the bank may freeze the
money if there is a court order. To be safe, use the
method I recommended above. I got this advice from
a senior lawyer.

17 Oct, 2008 12:03:43

New MessageRE:Bankruptcy-cant withdraw EPF age 55 ? (modified 0 times) Vince
From the statement above, understand that bankruptcy person can withdraw in cash with bankruptcy declaration letter.

If on suing for bankrupt and now is blacklisted, can give authorize letter and transfer to his spouse bank account?

15 Sep, 2009 23:17:01

New MessageRE:Bankruptcy-cant withdraw EPF age 55 ? (modified 0 times) Margaret
Hello Jeff.
My dad now is going to take his EPF. But he has few debts for credit card which he is worrying would this cause him cant take the fully amount of EPF?

In the past 5 years, the licence of his newspaper agency was not renewed. He did not pay the money for his income tax too. But now, when he is going to take the EPF, the accountant that he has hired before told him should close up your licence first so that she can arrange for him. Will it cost expensive for the income tax?

Nearly 7 months he havent make the house payment yet.This house is belongs to my dad and mom. If the house being Lelong, will this affect his EPF ?

Kindly give some advise. Thanks

19 Apr, 2010 14:58:54

New MessageRE:Bankruptcy-cant withdraw EPF age 55 ? (modified 1 times) AWAKE
Dear Margaret,

The debt will not effect your father EPF amount decrease. It's just that later when your father bank in the money to his account that time, make sure the account is not the account that same bank with his debt bank.

Same goes to the lelong, it is still won't effect your father EPF money. This is why, when you apply housing loan that time, you're allowed to take only account 2 rather than account 1. It is because account 1 money is the money for you to use when you pension.


15 May, 2011 13:50:45

New MessageRE:Bankruptcy-cant withdraw EPF age 55 ? (modified 0 times) Ms Vv
Hi, my husband is also a bankruptcy since 2005 due to default of car loan and credit card. I got this confirmation via myeg insolvency check, they send me a paper like certificate. but the cert didnt state how much is the debt.

If my husband would to withdraw his EPF, can this cert be use? Or he still have to get the confirmation from insolvency dept?

It has being a difficult time for my husband since he bankrupt and he couldn't even find a stable work due to this bankruptcy status and the pressure. He has being thru a depression. So he didn't go to insolvency or have any official assignee as he can't even support himself. He never made any payment to creditor/official assignee before.

Thank god, since last year, he managed to get a taxi license and started to get a minimum income (around RM100 to RM150 per day gross) which can bearly support himself. And he also has to pay a taxi rental of RM55 perday. Life seems getting slightly better but problem comes again.

Here is the problem, my mom in law just passed away and leaving a will to my husband(she didn't know he is bankrupt and we didn't know she got a will, it was told by relative after her death). My mom in law is a single mother, all her sibling already passed away, and my husband is her only son.

She left around RM90k to 100k in FD & saving account in few banks and no property. My understanding is if my husband would to execute this will, the money will be use to pay to the creditor 1st(correct me if i am wrong). But the debt is nearly RM200k, this mean he will get nothing yet the money has to goes to the creditor. If this is the case, my husband will rather leave the will "unexecute" and give to me or our children after he pass away.

If the will is left unexecuted, what will happen if my husband pass away? are we(the next of kin) have to apply letter of administration from court?

I was told by friend i can try to open a join name account with my husband in a bank(the bank must not be the creditor's bank), then get my mon in law's will execute and bank in the money to our join name account, then take out the money and put into my personal account. Can bankruptcy still open bank account? Is this risky or the bank will eventually find out and freeze the money even they are not the creditor's bank?

We are really bother by this issue and oftenly have argument. Hoping that anyone of you can give us some advise how to go about this and sort it out. Appreciate it!!

29 Oct, 2011 11:02:36

New MessageRE:Bankruptcy-cant withdraw EPF age 55 ? (modified 0 times) Leroy
Hi Ms Vv,

If this is the case, my husband will rather leave the will "unexecute" and give to me or our children after he pass away. Looks like this is your best option.

Regarding the letter of administration issue, to get an accurate answer, you should consult a lawyer, if your income is low enough, you could qualify for the RM2 legal advice from Jabatan Bantuan Guaman, google them to find a branch near you. Just walk in, no appointment required. If they are willing to see you, the wait is usually about 30 minutes or less.

Hope the above helps.

30 Oct, 2011 18:53:05

New MessageRE:Bankruptcy-cant withdraw EPF age 55 ? (modified 0 times) Dun Worry
Please be informed that you are not allowed to open an account under your children's name or any beneficery -- EPF will not allowed you to give any letter of authorization to issue the cheque under your children 's name etc. Either get a letter from Insolvency dept -- then submit your application to EPF, EPF will then issue you a cash warrant (arahan pembayaran) from there, you can cash the money out at RHB branch, (just get your children or trusted person either yr wife or husband) to open a RHB bank account, when you cash out the money straight way deposit the money into the trusted account!! Very simple, l have done that and enjoying my money now.

Si dun wori being declared as a bankrupt -- no one can take you money away.

03 Nov, 2011 16:05:45

New MessageRE:Bankruptcy-cant withdraw EPF age 55 ? (modified 0 times) Ms Vv
My frend told me she heard from radio that a new bankruptcy law may come out, this law allow those brankruptcy can withdraw from bankruptcy list after 5 year. Any of you heard about this and how true is it?
13 Dec, 2011 22:46:44

New MessageRE:Bankruptcy-cant withdraw EPF age 55 ? (modified 0 times) Yachoo
Here's my experience on how I've successfully withdrawn my EPF recently.

My 55th birthday was in Jan 2012. Got my money in Feb.

The EPF at Jalan Raja Laut, K.L., will issue a 'Arahan Bayaran' (payment order)
to you and you can cash out your EPF money at any RHB Islamic Bank Berhad,
provided you can get a LETTER from JIM stating that you're a bankcrupt.

I was told to go to JIM at Putrajaya and pay RM10 to do 'Carian Resmi' for myself.
It is actually an 'official search' to find whether a person is bankrupt or not.
I only had to wait about 20 minutes to get the search result.

The result is a printed document by JIM stating that I'm a bankrupt, since 200?,
the name of the bank that made me bankcrupt, and the name of the legal firm that
representing the bank. THIS is the 'LETTER' that EPF wants.

I don't have to see any OA or interviewed by anybody at JIM to get this letter.
Just go to the counter at 2nd Flr of JIM at Putrajaya and apply for 'carian resmi'.

Below is the address:

Jabatan Insolvensi Malaysia
Aras 2-3, Bangunan Hal Ehwal Undang-Undang,
Precint 3, Pusat Pentadbiran Kerajaan Persekutuan
62692 WP Putrajaya
Tel: 03 - 8885 1000

After that, went to EPF and apply for withdrawal, brought along the search result.
The Arahan Bayaran was then ready in a week's time.

Second visit to EPF and I got the Arahan Bayaran. Went to RHB and asked
the bank to use the money to issue a bankdraft to my wife. It cost me RM8,
but then, it's safer than to carry a large sum of cash.

Hope this is helpful.

17 Feb, 2012 19:07:55

New MessageRE:Bankruptcy-cant withdraw EPF age 55 ? (modified 0 times) KCKC
Thanks yachoo... very helpful indeed and more importantly, it sounds logic . Thanks alot
17 Feb, 2012 23:10:14

New MessageRE:Bankruptcy-cant withdraw EPF age 55 ? (modified 0 times) zzack
dear yachoo, first of all i like to thankfull to your surggestion ,its really work! now i had withdraw my epf money.
26 Mar, 2012 18:21:42

New MessageRE:Bankruptcy-cant withdraw EPF age 55 ? (modified 0 times) Smurf
Can I print the "carian rasmi" @ any others JIM branch besides Putrajaya?
16 Apr, 2012 21:23:46

New MessageRE:Bankruptcy-cant withdraw EPF age 55 ? (modified 0 times) Harry
The last reply on this thread was at 2012. Just need a clarification regarding to this matter; is the method mentioned by Mr. Yachoo still applicable?
I have tried it here at Sandakan Sabah. Printed the 'CARIAN RASMI' thru e-insolvensi (need to pay rm10 online banking).
Then, went to EPF to apply for withdrawal (on behalf of my mother actually). But, the officer from the kwsp said that i need an order letter from jab. Insolvensi to release the payment. Went back to jab insolvensi, but they also not releasing any kind of letter about the payment.

The question is, are the administering branch that make my mother went bankcrupt (Shah Alam) is the cause of we cant wihdraw the epf money here at sabah? Or i need to go to EPF Raja Laut,KL so that we are clear to proceed?

Anyone, can u help?

03 Nov, 2015 10:12:52

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