DFPI Reminds Licensees to Submit Annual Reports by March 15

Sheppard Mullin Richter & Hampton LLP

Sheppard Mullin Richter & Hampton LLP

Pursuant to Financial Code section 22159(a), all DFPI California Financing Law licensees are required to submit the annual report on or before March 15, 2022, even if the licensee had no business activity in the calendar year 2021. Failure to submit the annual report by the due date will result in penalties pursuant to Financial Code section 22715(b).

Click here for a penalty matrix reflecting the penalties assessable based on the late-filing date.

The form and instructions for submitting the Annual Report are available on the DFPI’s website here on January 4, 2022. Annual Reports must be submitted electronically through the DFPI portal account. To submit the Annual Report, licensees are required to have a registered DFPI portal account. To sign in to or register for a portal account, go to the DFPI’s website.

For questions about the content of the Report or clarification on the instructions, please email CFL.Inquiries@dfpi.ca.gov or call (866) 275-2677.

If licensees have questions about its portal account, please contact the Account Administrator (Albert Mercado) at (213) 220-5140 or email Albert.Mercado@dfpi.ca.gov.

We strongly recommend licensees start gathering the data to ensure they can timely file their 2021 Annual Report.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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