FinCEN seeks comment on renewing MSB registration form requirements
AI-generated summary for informational purposes only. Not legal advice. See the original source for the authoritative text.
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
Money services businesses must register with FinCEN using FinCEN Form 107 (RMSB) unless an exception applies.
MSBs must renew their FinCEN Form 107 registration every two years.
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.
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.
MSB principals that maintain any MSB agents must prepare and maintain an MSB agent list.