FinCEN MSB registration in the United States

About This Company

Under 31 CFR 1022.380(b)(4), transferring more than 10% of an MSB's equity interests or voting power triggers mandatory re-registration rather than a regulatory approval process. Form 107 registration with the Financial Crimes Enforcement Network requires no application fee. Ongoing compliance conditions require that a new Form 107 be submitted via BSA E-Filing within 180 days of an equity transfer exceeding 10%, a state-mandated re-registration event, or an increase of more than 50% in agent numbers. Federal law establishes no statutory approval timeline because registration involves a self-filed notification rather than a formal vetting procedure. FinCEN does not licence commercial entities, acting instead as the Treasury bureau that collects suspicious-activity and currency transaction reports under the Bank Secrecy Act. State money transmitter licensing sits separately with the 50 states via NMLS, where state authorities vet controllers across individual statutory thresholds. Permitted activities under the federal filing encompass money remittance and currency exchange. The public search tool recorded 28969 active entities when counted on 2026-09-22. Before executing purchase agreements, the buyer should search the online database by BSA ID or legal name to verify that a Form 107 filing is on record.