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#2067552 - 03/04/16 04:30 PM MSB Examinations in California
bellajade Offline
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Joined: Mar 2016
Posts: 4
As part of our due diligence on MSB customers in Washington state, we collect a copy of the BSA examination from the Washington Department of Financial Institutions. We acquired some branches in California, and I am wondering if anyone knows if there is a similar BSA examination of MSBs at the state level and by which governmental department? Thanks.

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#2067557 - 03/04/16 04:46 PM Re: MSB Examinations in California bellajade
Elwood P. Dowd Offline
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Elwood P. Dowd
Joined: Aug 2001
Posts: 21,939
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The IRS regulates and examines MSBs at the Federal level. Their report of examination is the L-1112.
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#2067612 - 03/04/16 06:24 PM Re: MSB Examinations in California bellajade
bellajade Offline
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Joined: Mar 2016
Posts: 4
Yes, and we request a copy of the IRS examination for our MSB due diligence as well. In Washington state, the Washington Department of Financial Institutions examines MSBs and we request a copy for our records, but I'm not sure if there is a state-level examination of MSBs also in California? Thanks for responding.

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