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Answer clarification requests, Update, Renew or Cancel your registration

From: Financial Transactions and Reports Analysis Centre of Canada (FINTRAC)

Registered money service businesses have a legal obligation under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and associated Regulations to answer clarification requests or provide assistance to FINTRAC, notify FINTRAC when they cease operations, update their registration information, and renew their registration.

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Answer clarification requests

FINTRAC will send a clarification request when more details about your registration is required. For example, you would receive a clarification request if information is missing, incomplete or inconsistent. It is possible that the information is correct, but we require your confirmation. The request is usually sent by email to the contact person or representative for service we have on file.

If we send you a clarification request, you will have 30 days to respond to the request and provide the information being requested.

How to answer clarification requests

For clarification requests, such as updating your contact address or phone number, please respond via email when FINTRAC reaches out.

For more sensitive inquiries that require detailed personal information regarding your registration, a FINTRAC officer will contact you directly with specific instructions on how to proceed.

If you do not respond to a clarification request on time, you may be assessed penalties or incur other consequences. For example, we can deny or revoke your registration. See Denial or revocation of registration.

Update your registration information

Modify or add information such as contacts, agents, locations, and activities.

Once you are a registered money services business or foreign money services business, you must keep your registration information up to date. If there are any changes, such as a change of address of your contact person or of your representative for service in Canada, you must inform FINTRAC within 30 days.

How to update your information

To update your registration information use the Web form: Request money services business or foreign money services business registration updates.

If you do not keep your registration information up to date, you may be assessed penalties or incur other consequences.

Renew your registration

Your registration is valid for two years. You must renew your registration before its expiry date. It is your responsibility to make sure your registration is renewed on time.

How to renew your registration

To renew your registration use the Web form: Request money services business or foreign money services business registration updates.

If more information is required, FINTRAC will send you a clarification request.

If you do not renew your registration, you may be assessed penalties or incur other consequences.

Cease your registration

If your business ceases to meet the definition of a money services business or foreign money services business, you must cease your registration within 30 days of the day on which your business ceases or stops offering money services business services.

How to cease your registration

To cease your registration, complete and submit the Web form: Request money services business or foreign money services business registration updates.

If you do not cease your registration with us, you may be assessed penalties or incur other consequences.

Denial or revocation of registration

We can deny your registration request or revoke your money services business or foreign money services business registration for the following reasons:

Note: Foreign money services businesses must inform FINTRAC of any change to the name or address of their Canadian representative for service within 30 days. Your registration will be revoked or denied if you fail to notify FINTRAC within the 30-day period.

If your registration is denied or revoked, the reasons will be provided to you in writing. Should you not agree with our decision, you can request a review of your file. See Reviews and appeals.

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