Washington Administrative Code
Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460)
Chapter 208-690 - Regulation of money services providers
Part D - RECORDKEEPING AND REPORTING
Section 208-690-090 - Annual report and annual assessment
Current through Register Vol. 24-18, September 15, 2024
What are the annual report and assessment requirements? Every licensee must submit a completed annual report and annual license assessment fee prescribed by WAC 208-690-140. The completed report and the fee must be received in the department office no later than 5:00 p.m. July 1, or 5:00 p.m. the next business day if July 1 is not a business day. A form for the preparation of the annual report and license assessment will be made available by the department by electronic transmission or mailed upon request. The report must include the following:
(1) If the licensee is a money transmitter, a copy of the licensee's most recent audited annual financial statement or, if the licensee is a wholly owned subsidiary of another corporation, the most recent audited consolidated annual financial statement of the parent company.
(2) Verification that authorized dele-gate information in the NMLS is current.
(3) If the licensee is a money transmitter, verification that the licensee meets permissible investment requirements under RCW 19.230.200 and 19.230.210.
(4) If the licensee is a money transmitter or online currency exchanger, verification that the licensee has an adequate surety bond as required by WAC 208-690-040 through 208-690-050.
(5) Verification that material changes, as defined by WAC 208-690-110, have been reported through the NMLS and are current.
(6) The annual report and assessment fee may be submitted through the NMLS.
Statutory Authority: RCW 43.320.040, 19.230.310, 2010 c 37. 10-20-123, § 208-690-090, filed 10/5/10, effective 11/5/10. Statutory Authority: RCW 19.230.310 and 43.320.040. 04-15-005, § 208-690-090, filed 7/7/04, effective 8/7/04.
