Money Laundering Regulations - registration summary
We want to make registration as easy as possible for you so it is important you know when you can register with us.
If you send us your relevant forms with plenty of time before the relevant administrative deadline, we will be able to check that all the relevant forms and fees have been sent. If not, we will let you know and you should be able to put in the missing paperwork before the legal deadline that is appropriate to you.
You need to decide if your business is required to register with us. You can do this by checking our MLR 9 Registration Notice (PDF 240K). We have also provided flowcharts to help you.
Accountancy Service Providers (ASPs)
Trust or Company Service Providers (TCSPs)
Money Service Businesses (MSB)
High Value Dealers (HVDs)
Accountancy Service Providers (ASPs)
You will need to register with HM Revenue & Customs (HMRC) if your business is not supervised by a designated professional body (such as the institute of Chartered Accountants of England and Wales or the Institute of Certified Bookkeepers). You can find a list of bodies in our MLR 9: Registration Notice (Money Laundering Regulations 2007) (PDF 1MB), Appendix 1.
- If you are in business as an ASP you must be registered with HMRC before the 1 January 2009. In order for us to be able to process your application on time you will need to complete and send your application form with the appropriate registration fees to us by the 30 September 2008.
- If you are setting up in business as a new ASP you must be registered with HMRC before the 1 January 2009.
For ASPs who have not yet applied you must:
- Send us MLR 100 registration form and appropriate fee(s). Forms and guidance notes to complete the form are available on our forms section.
- Put anti-money laundering systems in place so that you can identify and prevent money laundering and report any suspicious activity.
- Report changes during the registration year.
If you have already applied to register with us and may be affected by the updated guidance we will write to you asking you to check the guidance and let us know whether you still need to register. Our letter will explain what you need to do. If you have not received a letter by 19 August then phone our helpline on Tel 0845 010 9000.
Trust or Company Service Providers (TCSPs)
You will need to register with HMRC if your business is not supervised by the FSA or a designated professional body listed in our MLR 9: Registration Notice (Money Laundering Regulations 2007) (PDF 1MB), Appendix 1.
- If you were in business as a TCSP before 15 December 2007, you must apply to register with us before the 30 September 2008.
- If you are setting up in business as a new TCSP you will need to be registered before carrying on that business.
For TCSPs who have not yet applied:
- You must send us MLR 100 registration form and appropriate fee(s). Forms and guidance notes to complete the form are available on our forms section.
- Any person who controls or owns the business, and your nominated officer must apply for a fit and proper test. You should send us MLR 101 fit and proper test application (PDF 243K) form(s) and appropriate fee(s). Guidance notes to complete the form are available on our forms section.
- You must put anti-money laundering systems in place so that you can identify and prevent money laundering and report any suspicious activity.
- You must report changes during the registration year.
If you have already applied to register with us and may be affected by the updated guidance we will write to you asking you to check the guidance and let us know whether you still need to register.
Our letter will explain what you need to do. If you have not received a letter by 19 August then phone our helpline on Tel 0845 010 9000.
Money Service Businesses (MSB) (money transmitters, bureaux de change and cheque cashers)
The Money Laundering Regulations 2007 (MLR2007) required MSB who were
registered with HMRC before 15 December 2007, to apply for re-registration
between 15 December 2007 and 1 February 2008. Exceptionally, we accepted
late applications without levying a penalty up to 14 March 2008.
This means that if you are operating as an MSB and you have not applied
to re-register you are now trading illegally and you will face penalty
action or prosecution.
From Monday 17 March 2008, if you wish to apply to register as a MSB you must:
- complete form MLR 100
- pay the registration fee of £95 per premise - annual fee
- complete fit and proper application forms (MLR101) for those who effectively run, or are beneficial owner of the MSB
- pay the fit and proper one off fee of £50 per application form
- put anti-money laundering systems in place so that you can identify and prevent money laundering and report any suspicious activity
- report changes during the registration year
You will not be able to trade legally until your application has been processed which can be up to 45 days after your application has been received.
Full information about registration including the fit and proper test and who it applies to can be found in MLR 9: Registration Notice (Money Laundering Regulations 2007) (PDF 1MB).
To help you register you can find our forms with guidance notes explaining how to complete them in the MLR forms section.
High Value Dealers (HVDs)
As part of the annual renewal process for HVDs, we will write inviting re-registration and asking for the appropriate registration fee. You will need to complete a short form and return it to us with the correct fee by the date contained in our letter.
You will need to complete and return:
- our short re-registration form
- the renewal notice
- enclose the appropriate fee
The deadline for receipt date will be included in the letter we will send to you.
If you are setting up in business as a new HVD on or after the 15 December you will need to apply to register as soon as you make a decision that you would be prepared to accept cash payments as described in paragraph 5.1.1 of our MLR 9: Registration Notice (Money Laundering Regulations 2007) (PDF 1MB). You must not accept such a cash payment if you are not registered.
