Reports

(1) A Licensee shall, annually on or before March 31st, file an annual report with the Commissioner containing such information as the Commissioner may require concerning the business and operations during the preceding calendar year. In addition, each Licensee shall file a final annual report upon surrender of a license. (2) Each Licensee shall submit a report of condition within 45 days of the end of the calendar quarter, or within any extended time as the Commissioner may prescribe. (a) The report of condition shall include: 1. financial information of the Licensee; 2. nationwide and state-specific money transmission transaction information in every jurisdiction in the United States where the Licensee is licensed to engage in money transmission; 3. a permissible investment report; 4. transaction destination country reporting for money received for transmission, if applicable; and 5. any other information the Commissioner reasonably requires with respect to the Licensee. (3) The information required by clause (iv) of paragraph 209 CMR 44.07(2) shall only be included in a report of condition submitted within 45 days of the end of the fourth calendar quarter. (4) Each Licensee shall, within 90 days after the end of each fiscal year, or within any extended time as the Commissioner may prescribe, file with the Division an audited financial statement of the Licensee for the fiscal year prepared in accordance with generally accepted accounting principles issued by the Financial Accounting Standards Board; and any other information as the Commissioner may reasonably require. (a) The audited financial statements shall be prepared by an independent certified public accountant and shall include or be accompanied by a certificate of opinion of the independent certified public accountant that is satisfactory in form and content to the Commissioner. If the certificate or opinion is qualified, the Commissioner may order the Licensee to take any action as the Commissioner may find necessary to enable the independent or certified public accountant or independent public accountant to remove the qualification. (b) A Licensee that fails to submit the information required under 209 CMR 44.07(4) will not be permitted to renew its money transmitter license. (5) A Licensee shall submit a report of authorized delegates through the NMLS within 45 days of the end of the calendar quarter. The authorized delegate report shall include, at a minimum, each authorized delegate’s: (a) company legal name; (b) taxpayer employer identification number; (c) principal provider identifier; (d) physical and mailing addresses; (e) business conducted in other states, if any; f) fictitious or trade name, if any; (g) contact person name, phone number and email address; (h) start date as Licensee’s authorized delegate; (i) end date acting as Licensee’s authorized delegate, if applicable; and (j) other information, as the Commissioner reasonably requires. (6) A Licensee and an authorized delegate shall file all reports required by federal currency reporting, record keeping and suspicious activity reporting requirements as set forth in the Bank Secrecy Act and other federal and state laws pertaining to money laundering. The timely filing of a complete and accurate report required under this subsection with the appropriate federal agency shall be deemed compliant with the requirements of this subsection.