Illinois Administrative Code
Title 92 - TRANSPORTATION
Part 1019 - REMITTANCE AGENTS
Section 1019.40 - Recordkeeping Requirements
Universal Citation: 92 IL Admin Code ยง 1019.40
Current through Register Vol. 48, No. 12, March 22, 2024
a) Each person licensed as a remittance agent as defined in IVC Section 3-900 shall maintain for a period of 3 years a record of each transaction involving a remittance to the Department.
b) The records shall be maintained in ledger form or be computerized. If computerized, the records should be available to the auditors from the Accounting Revenue Department or the officers from the Department of Police within 30 minutes after a request. The records shall contain the following information:
1) The name and address of the
remittance agent. If the remittance agent has more than one licensed location,
the records shall reflect the location where the transaction was received
and/or processed, or where the records are kept.
2) The name and address of the applicant
submitting the transaction. If a remittance agent does not make the initial
contact with the applicant but receives a transaction from another remittance
agent, dealer, currency exchange, or financial institution, the second
remittance agent shall record the original applicant's name and that of the
initiating remittance agent, dealer, currency exchange, or financial
institution.
3) The address of the
Secretary of State facility to which the transaction is delivered. If the
transaction is delivered to another remittance agent for delivery to the
Department, the name and address of the second remittance agent shall be
recorded by the first remittance agent.
4) The type of application that the
transaction involves.
5) The amount
of fee received by the remittance agent for delivery to the Department for each
transaction. The funds shall be identified as "cash", "check", "electronic
payment" or "money order" payable to the Secretary of State, or "check",
"electronic payment" or "money order" payable to the remitter.
6) The initiating remittance agent shall
record the amount of fee received by the remittance agent for delivery to the
Department of Revenue. The funds shall be identified as "cash", "check",
"electronic payment", or "money order" payable to the Department of Revenue, or
"check", "electronic payment", or "money order" payable to the
remitter.
7) The date the fee and
transaction were received by the remittance agent.
8) The date the fee and transaction were
delivered to the Department and the method of delivery.
9) The date that the registration plate
and/or sticker was delivered to the applicant or initiating remittance agent,
dealer, currency exchange or financial institution, if applicable. If it is the
policy of the remittance agent to have the applicant pick up the registration
plate and/or sticker, the date that the applicant was notified of its
availability, the method of notification, and date the items were picked up
shall be recorded.
Disclaimer: These regulations may not be the most recent version. Illinois may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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