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Must MSB Re-apply to FinCEN?

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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

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