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.

The IRS regulates and examines MSBs at the Federal level. Their report of examination is the L-1112.

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.