California Financing Law licensees must pay their annual assessments to the California Department of Financial Protection and Innovation by Oct. 31. For those CFL licensees that completed the transition to NMLS, the department recently invoiced the assessment via the system. The invoice can be accessed in the Invoice section under the Home tab. Instructions for paying the invoice can be found here.
The department is still mailing assessment invoices to CFL licensees’ main office addresses on file with the department. However, in the past (especially in 2020 and 2021), many licensees encountered issues tracking down their mailed invoices. And so, the new NMLS invoicing option should help considerably with licensees timely receiving and paying their invoices. Only those licensees that have not yet completed the transition to NMLS may pay their invoice by check or ACH. The check and ACH payment instructions can be found on the mailed invoice.
Assessments are determined by the CFL licensee’s 2021 gross income for CFL activity as reported on the CFL license annual report, with a $250 minimum fee per licensed location. Assessment questions, including requests for copies of mailed invoices, can be directed to [email protected], and payment questions can be directed to [email protected].