Notice to Registered Money Services Businesses: Registration Renewal Deadline

Issued Date

Guidance Subject

Notice to Registered Money Services Businesses

Registration Renewal Deadline for Certain Money Services Businesses is December 31, 2008

Update to Notice (January 9, 2009)

Please be advised that if you properly completed and mailed your registration form (revised August 2008 version) on or before December 31, 2008, you have fulfilled your registration requirement. You should receive the acknowledgement letter from the IRS-Enterprise Computing Center, which constitutes your official proof of registration, six to eight (6-8) weeks after mailing in your registration form. If you do not receive an acknowledgement letter within eight (8) weeks, please contact the IRS-Enterprise Computing Center at 800-800-2877.

If your business is registered as a money services business (MSB), and you have continued to operate as an MSB, you must renew your registration by December 31 every two years (after your initial registration period).

If you last renewed your registration in 2006 and you have continued to operate as an MSB, you must renew your registration again by December 31, 2008 .

If you initially registered on any date in 2007 and you have continued to operate as an MSB, you must renew your registration by December 31, 2008 . This is to renew at the end of your initial registration period.

To help you determine when to renew your MSB registration, FinCEN has posted an "MSBRegistration Renewal Calculator" on www.msb.gov .

To renew your MSB registration, you must complete a new (August 2008) FinCEN Form 107, Registration of Money Services Business, check Item 1b: Renewal on the form, and mail it to the Internal Revenue Service - Enterprise Computing Center - Detroit (IRS-ECC-D), Attn: Money Services Business Registration, P.O. Box 33116, Detroit, MI 48232-0116.

Older versions of the Registration form are no longer acceptable. Also, the new (August 2008) Registration form now incorporates five (5) critical fields that are mandatory for a registration to be accepted :
Legal name
,
Address
,
City
,
State
, and
EIN (entity) or SSN/ITIN (individual)
. To avoid processing delays, please ensure that the form is filled out completely and accurately, including the five required fields.

Do not use a facsimile of your previously filed MSB registration form that you receivedfrom IRS-ECC-D or an MSB registration form with box 1c: Correction checked in order to renew your registration. If you do, IRS-ECC-D enters this filing under your old Document Control Number (DCN), and your registration will not appear as a current renewal when FinCEN compiles the monthly MSB Registration List for posting of currently registered MSBs.

You may obtain copies of FinCEN Form 107 from our website:
www.msb.gov or learn more about the MSB registration requirement by calling FinCEN’s Regulatory Helpline at 1-800-949-2732.

For questions concerning the status of your MSB registration filing or registration acknowledgement letter, please call the IRS-ECC-D Hotline at 1-800-800-2877, choose option 3.

11/2008 - Updated 1/2009

Financial Institution

Money Services Businesses