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One free scan finds every outdated or missing driver and matches the right update for your exact hardware.Free scan · exact hardware matchBench Accounting, Inc. ceased operations on December 27, 2024, after running short of liquidity, and terminated its employees. Within days, Employer.com acquired certain Bench assets; Bench says its service resumed in January 2025 and operates today as an Employer.com company. The shutdown was real, but it did not mean the Bench-branded service stayed closed.
What happened to Bench Accounting?
Bench provided bookkeeping, accounting and tax services through software and in-house bookkeepers. Its court filings say employees of 10Sheet Services performed substantially all of its administrative and day-to-day operations. The company was headquartered in Vancouver, British Columbia, which its insolvency declaration identifies as its only office.
In a declaration filed in support of Chapter 15 proceedings, Bench’s debtors said the company lacked the liquidity to fund operations. It ceased operations and terminated employees on December 27, 2024. The filing described a business serving more than 10,000 customers across North America, primarily small-business owners. (KSV Restructuring Inc., declaration, March 13, 2025; verified petition, March 13, 2025)
Bench’s transition FAQ described the former corporation’s status this way: “Unfortunately, as of Dec 27th, 2024, Bench Accounting, Inc. became insolvent and no longer exists as a separate entity.” That is the company’s institutional statement, not a quote attributed to an individual. (Bench transition FAQ)
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Did Bench shut down, and is it still operating in 2026?
Both statements can be true: the former Bench Accounting, Inc. stopped operating in December 2024, while a Bench-branded service later resumed. Bench’s current About page says, “Bench paused operations in December 2024,” that Employer.com acquired Bench within days, and that service resumed in January 2025. It describes Bench as operating today as an Employer.com company. Those present-status details are Bench’s own account; they are not an independent audit of the service. (Bench About page, accessed October 7, 2026)
The distinction matters for customers: an asset acquisition and resumed service do not make the new operator the same legal entity as the insolvent company, nor do they automatically settle obligations from before the shutdown.
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Who owns Bench now, and what did Employer.com acquire?
Bench says Employer.com acquired certain assets and that the service resumed under its ownership. Its transition FAQ says Employer.com was a separate entity, not liable for prior obligations such as refunds or completion of past services. The sources do not establish the full purchase price or allocation of acquired assets, so the acquisition should not be described as a purchase of the former company’s liabilities. (Bench About page; Bench transition FAQ)
What do Bench’s insolvency filings say about its finances?
The court materials show a substantial gap between reported assets and liabilities, alongside a large secured lender claim. These are aggregate figures in insolvency documents, not estimates of what any individual customer will recover.
- More than 10,000 customers — Bench debtors’ declaration, 2025.
- Approximately US$5.1 million in assets — Bench debtors’ declaration, 2025.
- Approximately US$51.5 million in liabilities — Bench debtors’ declaration, 2025.
- Approximately US$34.6 million owed to National Bank of Canada, excluding interest and fees — Bench debtors’ declaration, 2025. The declaration identifies the bank as the operating lender and largest secured creditor.
- Approximately US$5.6 million in terminated contracts and amounts owing to prepaid customers — KSV Restructuring Inc., 2025. This is the trustee’s collective estimate, not a statement of individual customer recoveries.
(KSV Restructuring Inc., declaration, March 13, 2025; KSV Restructuring Inc., first report of the trustee, March 5, 2025)
Can former Bench customers get a refund or unfinished work completed?
Bench’s transition FAQ said subscriptions paid for before December 30, 2024 were not eligible for refunds. It also said the new Bench team was willing to complete work covered by previous subscription payments for active customers at no additional charge. That was the company’s stated transition policy—not a legal determination or a guarantee that every account qualified, received the same offer, or had all work completed. (Bench transition FAQ)
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The trustee’s estimate of amounts owing to prepaid customers is a collective insolvency figure. It does not show the amount owed to a particular customer or establish that a particular person will receive a payment.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What should affected customers do?
If you used Bench before the shutdown, focus on confirming what records and work you can access rather than assuming your account followed the general transition policy.
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- Retrieve any available bookkeeping, tax and transaction records from your account, and save copies somewhere you control.
- Review account-specific transition messages, invoices and service records to identify what was paid for and what work was completed.
- Contact the service provider directly to confirm what, if anything, the current Bench team can complete for your account.
- Ask your tax professional what filings or bookkeeping tasks remain outstanding and what records they need. Do not assume that prior service or a transition offer means a filing was completed.
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