Fourth Quarter MSB Call Report Due Date Extended to March 31

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The NMLS extended the due date for Money Services Businesses (MSB) Call Reports filed for the fourth quarter from February 14, 2020, to March 31, 2020.  According to the notice, “[d]ue dates for first, second and third quarters remain unchanged.” The notice also advises companies licensed in states with different deadlines to file their MSB Call Report within the respective state’s deadline.

Companies holding an MSB license are required to file an NMLS MSB Call Report quarterly.  Such a requirement generally applies to licensees engaged in money transmission, check cashing, issuing or selling travelers checks, issuing or selling drafts, foreign currency dealing and exchange, issuing or selling money orders, bill paying, issuing or selling prepaid access/stored value products, and virtual currency.

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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