(i) prepaid access offered under a prepaid program that can be used before verification of customer identification; or (ii) prepaid access (including closed loop prepaid access) to funds that exceed $10,000 to any person during any one day, and has not implemented policies and procedures reasonably adapted to prevent such a sale. If you answered yes to any of the following questions, have you Registered with FinCEN as a money service business? Yes/No Registered with the for the applicable service? Yes/No If you have not registered, are you operating as an agent only? An agent is someone that acts on behalf of another MSB as its agent. Yes/No If you are considered to be an MSB or an Agent of a MSB, we will need to obtain: Your FinCEN registration and acknowledgement of receipt Proof of your registration with the state Your Agency paperwork (this is all that is required if an A copy of your BSA Policy Prepaid Program Defined: A prepaid program is an arrangement under which one or more persons acting together provide(s) prepaid access. However, an arrangement is a prepaid program if: not (A) It provides closed loop prepaid access to not to exceed $2,000 maximum value that can be associated with a prepaid access device or vehicle on any day; (B) It provides prepaid access solely to funds provided by a Federal, State, local, Territory and Insular Possession, or Tribal government agency; (C) It provides prepaid access solely to funds from pre-tax flexible spending arrangements for health care and dependent care expenses, or from Health Reimbursement Arrangements (as defined in 26 U.S.C. 105(b) and 125) for health care expenses; or (D) (1) It provides prepaid access solely to: Employment benefits, incentives, wages or salaries; or (i) Funds not to exceed $1,000 maximum value and from which no more than $1,000 (ii) maximum value can be initially or subsequently loaded, used, or withdrawn on any day through a device or vehicle; and (2) It does not permit: or value to be transmitted internationally; (i) Transfers between or users of prepaid access within a prepaid program; or (ii) Loading additional funds or the value of funds from non-depository sources. (iii) FINCEN FORM: REGISTRATION OF SERVICES BUSINESS (v. #1.1)
(i) prepaid access offered under a prepaid program that can be used before verification of customer identification; or (ii) prepaid access (including closed loop prepaid access) to funds that exceed $10,000 to any person during any one day, and has not implemented policies and procedures reasonably adapted to prevent such a sale. If you answered yes to any of the following questions, have you Registered with FinCEN as a money service business? Yes/No Registered with the for the applicable service? Yes/No If you have not registered, are you operating as an agent only? An agent is someone that acts on behalf of another MSB as its agent. Yes/No If you are considered to be an MSB or an Agent of a MSB, we will need to obtain: Your FinCEN registration and acknowledgement of receipt Proof of your registration with the state Your Agency paperwork (this is all that is required if an A copy of your BSA Policy Prepaid Program Defined: A prepaid program is an arrangement under which one or more persons acting together provide(s) prepaid access. However, an arrangement is not a prepaid program if: (A) It provides closed loop prepaid access to not to exceed $2,000 maximum value that can be associated with a prepaid access device or vehicle on any day; (B) It provides prepaid access solely to funds provided by a Federal, State, local, Territory and Insular Possession, or Tribal government agency; (C) It provides prepaid access solely to funds from pre-tax flexible spending arrangements for health care and dependent care expenses, or from Health Reimbursement Arrangements (as defined in 26 U.S.C. 105(b) and 125) for health care expenses; or (D) (1) It provides prepaid access solely to: (i) Employment benefits, incentives, wages or salaries; or (ii) Funds not to exceed $1,000 maximum value and from which no more than $1,000 maximum value can be initially or subsequently loaded, used, or withdrawn on any day through a device or vehicle; and (2) It does not permit: (i) or value to be transmitted internationally; (ii) Transfers between or users of prepaid access within a prepaid program; or (iii) Loading additional funds or the value of funds from non-depository sources. FINCEN FORM: REGISTRATION OF SERVICES BUSINESS (v. #1.1)