Tax & Finance

FinCEN seeks comment on renewing MSB registration form requirements

🇺🇸United States··Notice·Medium Impact·View source ↗

AI-generated summary for informational purposes only. Not legal advice. See the original source for the authoritative text.

🇬🇧 English

FinCEN is asking for public comments on renewing, without any changes, the reporting rules and Form 107 used by money services businesses to register with the agency. The notice does not change the underlying rules, but it confirms that MSBs still must register, renew every two years, and keep a list of agents if they have one. For compliance teams, the practical point is that the current registration workflow remains in place and FinCEN is looking for feedback on paperwork burden, errors, and ways to simplify the form. Comments are due by June 29, 2026, and MSBs, agents, and vendors supporting MSB compliance may want to review whether their filing process is efficient and up to date.

AI-generated summary. May contain errors. Refer to official sources for legal decisions.

Key Changes

  • FinCEN is renewing the MSB registration information collection without changing the form or the rules.
  • MSBs must continue filing Form 107, renewing registration every two years, and keeping an agent list if they have MSB agents.
  • FinCEN is asking for comments on burden, form errors, and ways to reduce duplicate or unnecessary filings.

Obligations

What this law requires

high

Money services businesses must register with FinCEN using FinCEN Form 107 (RMSB) unless an exception applies.

money services businesses (MSBs)
Initial registration must be filed on or before the end of the 180-day period beginning the day after the MSB is established; renewals are due every two years; re-registration is required within 180 days of certain ownership/interest/agent changes.
licensing
high

MSBs must renew their FinCEN Form 107 registration every two years.

money services businesses (MSBs)
Every two years; first renewal due by December 31 of the second calendar year of the initial registration period.
licensing
high

MSBs must re-register with FinCEN not later than 180 days after a qualifying change, including a state-law change in ownership requiring re-registration, a transfer of 10% of voting or equity interest, or a 50% or greater increase in MSB agents.

money services businesses (MSBs)
Within 180 days after the triggering event.
licensing
high

MSBs must maintain a copy of each registration form filed under 31 CFR 1022.380 for five years at a location in the United States.

money services businesses (MSBs)
Maintain for five years.
high

MSB principals that maintain any MSB agents must prepare and maintain an MSB agent list.

MSB principals
Ongoing; the list must be revised each January 1 for the immediately preceding 12-month period, with information current within 45 days of the revision.

Affected Parties

Money services businessesMSB principals and MSB agents+1 more…

Tags

FinCEN,money services businesses,BSA…