Dutch annual accounts under IFRS: is it allowed?
Yes, a Dutch legal entity may choose IFRS, even if it is not listed. That is a choice with conditions, and for most small BVs not a sensible one.
The short answer
Yes. Art. 2:362(8) DCC allows every Dutch legal entity to prepare its annual accounts under the IFRS as endorsed by the EU, provided all applicable standards are followed. You must state this in the notes (paragraph 10) and you continue to apply part of Title 9 (paragraph 9). Jaarrekening.io does not prepare IFRS annual accounts.
Updated 30 October 2026
Key facts
| Law | art. 2:362(8) to (10) DCC |
| Which IFRS | The standards issued by the International Accounting Standards Board and endorsed by the European Commission; all applicable ones, not a selection |
| Still applies from Title 9 | Sections 7 to 10 (management report, other information, expert examination, publication) and a few articles (paragraph 9) |
| Product | Jaarrekening.io works under Title 9 and the RJ/RJk, not under IFRS |
What the law allows
A legal entity may prepare the annual accounts in accordance with the standards issued by the International Accounting Standards Board and endorsed by the European Commission, provided that the legal entity applies all issued and endorsed standards applicable to it.
Three things follow from that text. First, the option applies to every legal entity that falls under Title 9, not only listed ones. Second, it concerns the standards endorsed by the European Commission. That means a standard that is not endorsed in Europe, such as IFRS for SMEs (the lighter variant for smaller companies), does not fall under this provision. Third, it is all or nothing: you cannot pick the IFRS rules that suit you and leave the rest.
If you have consolidated annual accounts under Title 9, you cannot prepare the separate annual accounts under IFRS (paragraph 8, second sentence). Conversely, for an IFRS group you may use in the separate annual accounts the valuation principles you use in the consolidated accounts (paragraph 8, third sentence).
What you still apply from Title 9
If you choose IFRS, you only continue to apply certain parts of Title 9 (paragraph 9): sections 7 to 10 and a series of named articles. Section 7 concerns the management report and the separate annual reports and statements, section 8 the other information, section 9 the expert examination and section 10 the publication. So you still prepare a management report where your size class requires it, and you file within the deadlines of art. 2:394 DCC. Section 11, which contains the exemptions for small and medium-sized legal entities (art. 2:395a to 2:397 DCC), is not in the list of paragraph 9. A small BV that chooses IFRS therefore cannot simply assume it keeps its exemptions, such as the one for the audit. That is our reading of the statutory text; have an accountant confirm it beforehand.
You must also state in the notes under which standards the annual accounts were prepared (paragraph 10). The references in the law to the models of the Besluit modellen jaarrekening (Decree on annual accounts models) fall away; the RJ is then not the guide either. For the relationship between the RJ and IFRS see RJ 105 and for a fuller explanation in English Dutch GAAP vs IFRS.
When IFRS makes sense, and when not
- Sensible: the subsidiary of a foreign group that delivers its reporting in IFRS; a company seeking financing or a takeover abroad and assessed on IFRS; or a listed company, for which IFRS is mandatory for the consolidated accounts.
- Not sensible: a small BV without a foreign financier. IFRS requires extensive notes, including on financial instruments and employee benefits, and takes more preparation than Title 9 with the RJk.
- Going back: anyone who wants to return from IFRS to Title 9 makes a change in accounting policy; see changes in accounting policy.
For corporate income tax, IFRS annual accounts do not automatically give the taxable profit. Allow for an additional bridge between IFRS profit and taxable profit.
Case: Fjord Logistics BV
Fjord Logistics BV is the Dutch subsidiary of a Norwegian group. The group reports in IFRS; the BV has a balance sheet total of € 31 million and a net turnover of € 58 million and is therefore large. It has 120 employees.
- The BV chooses IFRS in its own annual accounts, so that it follows the same standards as the group.
- It then applies all applicable endorsed IFRS. It states in the notes that the annual accounts were prepared under IFRS (art. 2:362(10) DCC).
- It prepares a management report (section 7) and adds the other information (section 8). An accountant audits (section 9 and art. 2:393 DCC).
- It files no later than eight days after adoption and no later than twelve months after the end of the financial year (art. 2:394(1) and (3) DCC).
For a simpler BV (balance sheet total € 800.000, net turnover € 1,2 million, 8 employees) the choice turns out differently. It is small and has a light route with the RJk, with exemptions that do not automatically continue under IFRS. The additional IFRS notes cost more here than they yield, unless a financier or buyer asks for them.
What Jaarrekening.io does here
Jaarrekening.io prepares the annual accounts under Title 9 Book 2 DCC with the RJk (micro and small) or the RJ (medium-sized and large). The app does not support IFRS, IFRS for SMEs or US GAAP; for a listed parent company, consolidated accounts under IFRS are deliberately not supported. If you apply IFRS, preparation stays outside the app.
Sources
Frequently asked questions
May a BV prepare its annual accounts under IFRS?
Yes. Art. 2:362(8) DCC allows it, provided the BV applies all IFRS applicable to it, as endorsed by the EU. It must state in the notes under which standards it prepared the annual accounts (paragraph 10).
May a small BV use IFRS for SMEs?
Not on the basis of art. 2:362(8) DCC, because that provision concerns standards endorsed by the European Commission. IFRS for SMEs has not been endorsed by the European Commission. In practice a small BV chooses the RJk or the full RJ.
Which parts of Title 9 continue to apply under IFRS?
Under art. 2:362(9) DCC, among others, sections 7 to 10 (management report, other information, expert examination, publication) and a number of named articles. You then do not apply the other sections of Title 9, including those on the content of the balance sheet and the profit and loss account; IFRS determines the content.
Is IFRS mandatory for a BV?
No, not for the separate (entity-only) annual accounts. For listed companies IFRS is mandatory for the consolidated accounts. A BV without a listing chooses for itself.
Can Jaarrekening.io produce IFRS annual accounts?
No. The app works under Title 9 Book 2 DCC with the RJk or the RJ. For IFRS you need other software or an accountant.
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Preparing Dutch annual accounts?
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