Washington Administrative Code
Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460)
Chapter 208-544 - Schedule of costs of examinations
Section 208-544-020 - Semiannual asset charge - Assessment

Universal Citation: WA Admin Code 208-544-020

Current through Register Vol. 24-18, September 15, 2024

(1) The semiannual assessment shall be computed using the asset value reflected in the most recent report of condition. The director may adjust such rates if the director determines that a disproportionate amount of revenue is being collected. The rate of charge is set forth in the following schedules:

(a) Commercial banks, savings banks, savings associations, and alien banks.

If the institution's total assets are: The semiannual assessment is:
Over this amount (in millions) But less than this amount (in millions) This amount Plus the excess over (in millions) Multiplied by this rate
$0 $500 ---- ---- .000017464
$500 $1,000 $8,732 $500 .000016746
$1,000 $10,000 $17,105 $1,000 .000016495
$10,000 ---- $165,560 $10,000 .000
The semiannual assessment is capped at $165,560.

(b) Trust companies.

Total assets under management Semiannual assessment charge
$0-125 million $125
$125-250 million $250
$250-500 million $500
$500 million - 1 billion $1,000
Total assets under management Semiannual assessment charge
$1-2 billion $2,000
$2-3 billion $3,000
$3-4 billion $4,000
$4-5 billion $5,000
Trust companies pay $1,000 for each additional $1 billion under management. Annual assessments are capped at $100,000.

(2) Assessments and statements of condition shall be remitted to the division in accordance with the following:

(a) The division shall provide an official notice of assessment to each financial institution in the months of June and December of each calendar year.

(b) The financial institution shall calculate the assessment amount due using the most recent statement of condition.

(c) The assessment payment shall be remitted to the division in accordance within the dates specified by the notice along with the statement of condition used to calculate the assessment.

(d) A fifty dollar fee shall be charged for each day a regulated institution fails to file the assessment payment and statement of condition after the deadline to file has passed, as set out under RCW 30.08.190(3).

Statutory Authority: RCW 30.04.030 and 43.320.040. WSR 00-17-141, amended and recodified as § 208-544-020, filed 8/22/00, effective 9/22/00. Statutory Authority: RCW 43.320.010, 43.329.040 and 30.04.030. WSR 96-04-022, § 50-44-020, filed 1/30/96, effective 3/1/96. Statutory Authority: RCW 30.04.070 and 30.08.095. WSR 91-18-054, § 50-44-020, filed 8/30/91, effective 9/30/91; WSR 90-12-007, § 50-44-020, filed 5/25/90, effective 6/25/90. Statutory Authority: RCW 30.04.030 and 31.04.150. WSR 89-09-004 (Order 77), § 50-44-020, filed 4/6/89. Statutory Authority: RCW 30.04.030. WSR 83-20-072 (Order 55), § 50-44-020, filed 10/3/83; WSR 82-24-074 (Order 48), § 50-44-020, filed 12/1/82. Statutory Authority: RCW 34.04.070. WSR 82-02-037 (Order 45), § 50-44-020, filed 12/31/81. WSR 13-23-007, § 208-544-020, filed 11/7/2013, effective 12/8/2013

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