The activities of the foundation shall end with a court adjudication upon expiration of the term (if the foundation has been established for a specified period of time), by a decision of the board of directors upon commencement of bankruptcy proceedings of the foundation, on another basis laid down in law or articles of association.

The liquidation shall be performed by the members of the board of directors, unless otherwise specified in the articles of association. If liquidation is carried out by persons other than members of the board of directors, the articles of association shall provide for the procedures for the appointment of such liquidators. If liquidation is performed by several liquidators, they have the right to represent the foundation only jointly, unless otherwise specified in the articles of association or court ruling regarding the right of representation of liquidators.

At the same time as applying for changes, the application must also contain information on the actual beneficiaries of the foundation (PLG). Unless other circumstances are established, the liquidator may be regarded as the PLG of the establishment in the light of the activities actually carried out by him in the liquidation proceedings.

In the cases specified in the Law, an application for registration of changes may be sent for inspection to the State Revenue Service. Read more about the assessment of applications received in the Enterprise Register at the State Revenue Service

^{* The statutory time limit for examining documents may be extended on the basis of Section 64, Paragraph two of the Administrative Procedure Law.}

Documents to be submitted:

• application form B7;
• minutes of the meeting of the board of directors or minutes of another institution specified in the articles of association or an extract thereof by a decision to terminate the activities of the foundation;
• consent of another administrative institution to a decision of the board of directors regarding termination of the activities of the foundation (if the articles of association provide for such procedures);
• minutes of the meeting of the Board of Governors or an extract thereof by a decision on termination of activities upon termination of the term specified in the articles of association for which the foundation has been established;
• the consent of the liquidator to hold office. It is not necessary to submit if the existing (ies) board Member (ies) becomes liquidator. If the liquidator has signed the consent to be a liquidator in application form B7, the consent to be a liquidator need not be attached to the application;
• a questionnaire for inclusion of information in the Register of natural persons (to be signed by the foreigner himself or herself with a secure electronic signature in order to submit electronically; if there is no secure electronic signature, this document shall not be submitted) of a foreigner (foreigner) who has a legal link with Latvia on the basis of which mutual rights and obligations in the field of commercial activities and taxes are formed or have developed, but no personal identity number of the Republic of Latvia has been granted;
• if the application is submitted by postal services, information regarding payment of the State fee shall be appended (receipt or a copy thereof, or printout of an Internet bank payment or free text information).

The liquidator shall submit a notification regarding termination of the activities of the foundation and liquidation thereof in person in the official publication 'Latvijas Vestnesis'.