|
If multiple
license types are selected, the maximum application
fee is $375 and only one form is required.
Compliance
/ Vendor / Branch Locations
|
BUSINESSES – Application Requirements
|
| |
|
|
| |
Money
Transmitter |
Payment
Instrument Issuer |
Check
Casher |
Foreign
Currency Exc. |
|
Application Fee * |
$375 |
$375 |
$188 |
$188 |
|
On-line
Application Form |
OFR-560-01
Filed electronically:
https://real.flofr.com |
OFR-560-01
Filed electronically:
https://real.flofr.com |
OFR-560-01
Filed electronically:
https://real.flofr.com |
OFR-560-01
Filed electronically:
https://real.flofr.com |
|
Signature Requirements |
Signature of Owner/Officer |
Signature of Owner/Officer |
Signature of Owner/Officer |
Signature of Owner/Officer |
|
Deferred Presentment Transactions (DPP) Fee |
$1000 |
$1000 |
$1000 |
$1000 |
|
On-line
DPP Form |
OFR-560-03
Filed electronically:
https://real.flofr.com |
OFR-560-03
Filed electronically:
https://real.flofr.com |
OFR-560-03
Filed electronically:
https://real.flofr.com |
OFR-560-03
Filed electronically:
https://real.flofr.com |
|
Ownership Schedule |
OFR-560-01,
Section 5G |
OFR-560-01, Section 5G |
OFR-560-01, Section 5G |
OFR-560-01, Section 5G |
On-line
Biographical Form
|
OFR-560-01,
Pages 10-15
|
OFR-560-01,
Pages 10-15
|
OFR-560-01,
Pages 10-15
|
OFR-560-01,
Pages 10-15
|
|
Fingerprint Card with $43.25 Processing Fee |
Required
for each executive officer, director, member, principal,
sole proprietor, controlling shareholder(s), responsible
person and compliance officer. |
Required
for each executive officer, director, member, principal,
sole proprietor, controlling
shareholder(s), responsible
person and compliance officer. |
Required
for each executive officer, director, member, principal,
sole proprietor, controlling
shareholder(s), responsible
person and compliance officer. |
Required
for each executive officer, director, member, principal,
sole proprietor, controlling
shareholder(s), responsible
person and compliance officer. |
|
Audited Financial Statements (in accordance with GAAP) |
Required |
Required |
No |
No |
|
Net Worth Requirement |
$100,000
+ $10,000 per location/vendor; maximum $2 million |
$100,000
+ $10,000 per location/vendor; maximum $2 million |
No |
No |
|
Security Device (Bond, Cert. Of Deposit or Letter of
Credit) |
Required
- Minimum $50,000 up to maximum $2
million |
Required
- Minimum $50,000 up to
maximum $2 million |
No |
No |
|
Financial and Business Activity Projections |
OFR-560-01,
Question #11 |
OFR-560-01, Question #11 |
None |
None |
|
BUSINESSES –
Compliance and Renewal Requirements
|
| |
Part II
|
Part III
|
| |
Money
Transmitter |
Payment
Instrument Issuer |
Check
Casher |
Foreign
Currency Exchanger |
|
QUARTERLY
REPORTS
|
|
On-line
Quarterly Report Form |
OFR-560-04
Filed electronically:
https://real.flofr.com |
OFR-560-04
Filed electronically:
https://real.flofr.com |
OFR-560-04
Filed electronically:
https://real.flofr.com |
OFR-560-04
Filed electronically:
https://real.flofr.com |
|
Filing Deadline |
45 Days
after Quarter End |
45 Days
after Quarter End |
45 Days
after Quarter End |
45 Days
after Quarter End |
|
ANNUAL
FINANCIALS
|
|
Annual Financial Statements (audited) |
Required. |
Required |
None |
None |
|
Deadline for Annual Statements |
120 Days
after FYE |
120 Days
after FYE |
None |
None |
|
Net Worth Requirement (all statements) |
$100,000
+ $10,000 per location/vendor; maximum $2 million |
$100,000
+ $10,000 per location/vendor; maximum $2 million |
None |
None |
|
RENEWALS
|
|
Renewal Fee |
$750 |
$750 |
$375 |
$375 |
|
On-line
Renewal Deadline |
4/30
every 2 years (from initial registration date) |
4/30
every 2 years (from initial registration date) |
12/31
every 2 years (from initial registration date) |
12/31
every 2 years (from initial registration date) |
|
On-line
Renewal Form |
Filed electronically:
https://real.flofr.com |
Filed electronically:
https://real.flofr.com |
Filed electronically:
https://real.flofr.com |
Filed electronically:
https://real.flofr.com |
|
Net Worth Requirement |
$100,000
+ $10,000 per location/vendor; maximum $2 million |
$100,000
+ $10,000 per location/vendor; maximum $2 million |
None |
None |
|
DPP Renewal Fee |
$1,000 |
$1,000 |
$1,000 |
$1,000 |
|
DPP Renewal Deadline |
Same
as business renewal deadline |
Same
as business renewal deadline |
Same
as business renewal deadline |
Same
as business renewal deadline |
|
On-line
DPP Renewal Form |
Same
as business renewal form Filed
electronically:
https://real.flofr.com |
Same
as business renewal form Filed
electronically:
https://real.flofr.com |
Same
as business renewal form Filed
electronically:
https://real.flofr.com |
Same
as business renewal form Filed
electronically:
https://real.flofr.com |
|
Late Fee Renewal |
$500 |
$500 |
$250 |
$250 |
|
Late Renewal Deadline |
60 days after 4/30 - expiration date |
60 days after 4/30 - expiration date |
60
days after 12/31 - expiration date |
60 days after 12/31 - expiration date |
|
Late Fee DPP Renewal |
$500 |
$500 |
$500 |
$500 |
|
Late DPP Renewal Deadline |
Same
as late business deadline |
Same
as late business deadline |
Same
as late business deadline |
Same
as late business deadline |
|
Late Renewal Retroactive to Prevent Lapse |
No |
No |
No |
No |
|
CHANGE
OF CONTROL
|
| (for
change of ownership 25% or greater, or change in legal
entity) |
Comply
with all requirements for new application |
Comply
with all requirements for new application |
Comply
with all requirements for new application |
Comply
with all requirements for new application |
|
Deadline |
30 Days
prior to change |
30 Days
prior to change |
30 Days
prior to change |
30 Days
prior to change |
|
VENDOR/BRANCH
LOCATIONS – Reporting Requirements
|
| |
Part II
|
Part III
|
| |
Money
Transmitter |
Payment
Instrument Issuer |
Check
Casher |
Foreign
Currency Exchanger |
|
NOTIFICATION
OF VENDOR/BRANCH
|
|
On-line
Form |
OFR-560-02
Filed electronically:
https://real.flofr.com |
OFR-560-02
Filed electronically:
https://real.flofr.com |
OFR-560-02
Filed electronically:
https://real.flofr.com |
OFR-560-02
Filed electronically:
https://real.flofr.com |
|
Fee |
$38 |
$38 |
$38 |
$38 |
|
Deadline to file |
60 days
after date location opened or authorized vendor commenced
operations |
60 days
after date location opened or authorized vendor commenced
operations |
60 days
after date location opened or authorized vendor commenced
operations |
60 days
after date location opened or authorized vendor commenced
operations |
|
TERMINATION OF VENDOR/BRANCH
|
|
On-line
Form |
OFR-560-02
Filed electronically:
https://real.flofr.com |
OFR-560-02
Filed electronically:
https://real.flofr.com |
OFR-560-02
Filed electronically:
https://real.flofr.com |
OFR-560-02
Filed electronically:
https://real.flofr.com |
|
Deadline |
60 days
after date location closed or authorized vendor ceased
operations |
60 days
after date location closed or authorized vendor ceased
operations |
60 days
after date location closed or authorized vendor ceased
operations |
60 days
after date location closed or authorized vendor ceased
operations |
|
RENEWAL OF
VENDOR/BRANCH
|
|
Renewal Fee |
$38 |
$38 |
$38 |
$38 |
|
Deadline to
Renew is with Licensees Renewal |
4/30 every 2 years |
4/30
every 2 years |
12/31
every 2 years |
12/31
every 2 years |
|
License Retroactive |
No |
No |
No |
No |
