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Fincen Registration Form: What You Should Know

Forms -- Money Services Businesses | Fin CEN.gov) In general, money services businesses are permitted to take deposits of cash or securities in amounts of less than 10,000, in the form of a traveler's check. If your business is interested in participating in the  FSA Money Services E-Filing System, please  Registration of Money Services Business FSS (MSB) FSS (See Step 3 of this process for MSB eligibility rules) Step 2. You need to review the rules for your business as outlined in  Fin CEN.gov/FIN-2013-G001 (for MSB) Fin CEN.gov/FIN-2013-G002 (MSB) or Fin CEN.gov/FIN-2013-G003 (if your business is accepting deposits). For MSB, if you are accepting deposits in excess of those set in  Fin CEN.gov/FIN-2013-G001(2) Fin CEN.gov/FIN-2013-G002(2) or Fin CEN.gov/FIN-2013-G003(2), you need to establish your MSB to the IRS. Before you go through the registration process, we are  strongly recommended you review The Fin CEN Registration Program (MSB Program), Fin CEN.gov/FIN-2013-G004 (federal MSB registration), Fin  CEN.gov/FIN-2013-G005 (state MSB registration). b. Once completed, your payment history can be view under the E-filing System or the Form  I-9 for information on all payments received as an MSB. c. Before submitting the form, be sure to provide the following information:  The name and address of the owner  The business purpose for which the money services business is established. To learn more call us at. Date and type of MSB (month, day, and year). Payment of the money services business tax obligation. The payment of the tax liability. If an MSB is not paid before closing of the business, we must levy the amount of tax due. You will receive a notice if this occurs and may submit a request for a payment deferral.

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Instructions and Help about Fincen Registration

Hello my name is josue Khan I am a banking in a payment consultant I received many phone calls over the day I get emails etc on people trying to understand how to maneuver this complex landscape known as you know the u.s. money transmission laws and money services business licensing etc etc one thing I see again and again is people think that if they just go to FinCEN and register over there the FinCEN registration is granting them a license no Vincent registration is a not a license there is no federal money transmitter licensing authority to grant you a license FinCEN is a department under the Department of Treasury it is meant for reporting purposes if you are going to be someone at some point in time is going to be a money services business then FinCEN registration I see the word you use the word registration is then necessary it is used for reporting it is not a grant of a license I hope I was able to clear that if you have any questions or comments there is a forum in the description below write to me I'll be happy to answer till next time you.