Registration of Money Services Business (Form 107 / RMSB) (United States)
The Registration of Money Services Business (Form 107 / RMSB) is issued by Financial Crimes Enforcement Network (FinCEN) under Bank Secrecy Act (Currency and Foreign Transactions Reporting Act of 1970, as amended; codified at 12 U.S.C. 1829b, 1951-1960 and 31 U.S.C. 5311-5314, 5316-5336, implementing regulations at 31 CFR Chapter X). The official register lists 29262 current holders. The application fee is No fee. Ownership changes need the regulator's approval before completion.
At a glance
| Official name | Registration of Money Services Business (Form 107 / RMSB)1 |
|---|---|
| Also known as | MSB · RMSB · FinCEN Form 107 · FinCEN MSB registration · US MSB registration · Federal MSB registration |
| Market names to check | MSB license: Federal MSB status is a FinCEN registration, not a licence; state money transmitter licences are separate |
| Issued by | Financial Crimes Enforcement Network |
| Jurisdiction | United States |
| Licence family | Money transmitter / money services business (MSB) |
| Legal basis | Bank Secrecy Act (Currency and Foreign Transactions Reporting Act of 1970, as amended; codified at 12 U.S.C. 1829b, 1951-1960 and 31 U.S.C. 5311-5314, 5316-5336, implementing regulations at 31 CFR Chapter X)2 |
| Passporting | Domestic only |
| Application fee | No fee1 |
| Statutory decision time | None: Form 107 is a self-filed registration with no FinCEN approval or decision step; it must be filed within 180 days of the MSB being established1 |
| Public register | official register3 |
| Current holders | 292623 |
What it lets you do
| Money remittance | Receiving funds from a payer solely to transfer them to a payee or another provider, without opening payment accounts. |
|---|---|
| Currency exchange | Buying and selling foreign currency for customers, in cash or electronically, as a bureau de change or FX service. |
Where it is valid
How long it takes
Statutory: None: Form 107 is a self-filed registration with no FinCEN approval or decision step; it must be filed within 180 days of the MSB being established1. Observed: not published. The statutory clock usually starts only when the regulator treats the application as complete, and pauses while it waits for answers to its questions.
Buying a company that already holds it
Notification only. No FinCEN approval or vetting of acquirers exists because MSB registration is not a licence. A transfer of more than 10% of an MSB's voting power or equity interests (31 CFR 1022.380(b)(4)), any ownership/control change requiring re-registration under state law, or a rise of more than 50% in the number of agents, triggers a mandatory re-registration: a new Form 107 filed via BSA E-Filing within 180 days of the event, with no waiting period for approval. State money-transmitter regulators, where the entity also holds a state licence, separately vet controllers on their own thresholds and timelines (not covered here).1
Ready-made companies holding this licence: see verified positions.
MSB in other countries
| Country | Licence | Regulator | Min. capital | Application fee | Statutory time |
|---|---|---|---|---|---|
| Australia | Registration as a remittance service providerRegistration as a remittance service provider (remittance network provider or independent remittance dealer) | AUSTRAC | n/a | n/a | n/a |
| British Virgin Islands | Money Services Business Licence, Class A or Class BMoney Services Business Licence, Class A (money/electronic/mobile money transmission) or Class B (money orders, traveller's cheques, cheque cashing, currency exchange) | BVI FSC | n/a | n/a | n/a |
| Canada | Money services business (MSB) registrationMoney services business (MSB) registration (covers foreign exchange dealing, money transferring, virtual currency dealing, crowdfunding platforms and related services; a separate foreign-MSB registration applies to businesses without a place of business in Canada that direct services at Canadians) | FINTRAC | n/a | n/a | n/a |
| Dubai International Financial Centre (DIFC) | Money transmitter licenceFinancial Services Permission for Providing Money Services restricted to Money Transmission only (Category 4) | DFSA | n/a | USD 10,000 | n/a |
| Netherlands | Exchange institution licenceExchange institution licence (Vergunning wisselinstelling) | DNB | n/a | n/a | n/a |
| United States | Registration of Money Services Business (Form 107 / RMSB) | FinCEN | n/a | n/a | ~5.9 mo |
Values come from each licence's page, where every figure has its source.
Laws behind it
- Bank Secrecy Act: 31 U.S.C. 5311-5314, 5316-5336 (Pub. L. 91-508, as amended); implementing rules at 31 CFR Chapter X
Sources
- fincen.gov: money services business msb registration · retrieved 2026-09-24
- fincen.gov: bank secrecy act · retrieved 2026-09-24
- msb.fincen.gov · retrieved 2026-09-22
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