A candidate committee or noncandidate committee may terminate its registration if:
(1) The candidate committee or noncandidate committee:
(A) Files a request for registration termination form;
(B) Files a report disclosing contributions and expenditures not previously reported by the committee, and the committee has no surplus or deficit; and
(C) Mails or delivers to the commission a copy of the committee's closing bank statement; and
(2) The request is approved by the commission.