CSBS announced that it will change the NMLS Money Services Businesses (MSB) Call Report, which most money services business licensees (e.g., money transmitters, check cashers, virtual currency businesses) are required to submit on a quarterly basis, to incorporate feedback on current field definitions and reporting items.
Most of the changes are in the financial condition report and the virtual currency sections of the transaction activity report. The new version goes into effect for the 2023 reporting year, with the first new submission due May 15, 2023, for the Q1 2023 reporting period.
CSBS has posted a summary of changes on the NMLS Resource Center, along with a sample form, field definitions, and practice worksheet. We are in touch with NMLS staff to clarify some of the adjustments and will share updates as we receive them. In the meantime, please contact APPROVED if you have any questions regarding how changes to the MSB Call Report will affect your company’s reporting.