Skip to content
 

Must MSB Re-apply to FinCEN?

Answered by: 
Ken Golliher

Question: 
If an MSB closes an account at a bank and opens a new account with another bank do they need to re-apply with FinCEN by completing another 107 form?
Answer: 

No. The license is valid for two years and a copy of an acknowledgment letter showing it is still in effect should be acceptable to the second bank.

Please also see: MSBs: Care and Caution Required

First published on BankersOnline.com 12/05/05

First published on 12/05/2005

Filed under: 
Security
Filed under security as: 
FinCEN
IT
MSB

Report a problem with this page

Search Topics