Section 33.27 - What Fees Must I Pay to Get and Maintain a License?(a) Does this section apply to me? This section applies if you hold a money transmission or currency exchange license issued under Finance Code, Chapter 152, or are an applicant for a new money transmission or currency exchange license, as applicable. This section also applies if you are a person other than a license holder or applicant and are investigated under the authority of Finance Code, § 152.056.(b) Definitions. The following words and terms, when used in this section, have the following meanings unless the context clearly indicates otherwise.(1) "Annual Assessment" means the fee assessed annually to pay the costs incurred by the department to examine a license holder and administer Finance Code, Chapter 152, including the annual license fee required by Finance Code, § 152.107(d)(1).(2) "Examination" means the process, either by on-site or off-site review, of evaluating the books and records of a license holder under the authority of Finance Code, § 152.057, relating to its money services activities. For purposes of this section, the term does not include an investigation conducted under the authority of Finance Code, §§ 152.056 or 152.106.(c) What provisions of Finance Code, Chapter 152, authorize the fees, assessments, and reimbursements required under this section? The fees, assessments, and reimbursements established by or required under this section are authorized by one or more of the following provisions of Finance Code, Chapter 152: §§152.052(b)(1), 152.056(e), 152.107(d)(1), 152.104(d), and 152.151(b)(2).(d) What fees must I pay to obtain a new license?(1) You must pay a $10,000 application fee to obtain a new money transmission license or a $5,000 application fee to obtain a currency exchange license. If your application is accepted for processing pursuant to Finance Code, §152.106, your application fee will be nonrefundable. You may also be required to pay the following additional fees:(A) If the commissioner determines that it is necessary to conduct an on-site investigation of your business, you must pay a non-refundable investigation fee at a rate of $120 per hour for each department examiner required to conduct the investigation and all associated travel expenses;(B) If the commissioner determines that it is necessary to employ a third-party screening service to assist with the investigation of your license application, you must pay the department for the reasonable costs for the third-party investigation; and(C) If the commissioner determines it is necessary to perform background checks using fingerprint identification records, you must either submit payment for the costs of this service at the time you file your application or pay the department upon request.(2) The commissioner may reduce the fees required under paragraph (1) of this subsection, if the commissioner determines that a lesser amount than would otherwise be collected is necessary to administer and enforce Finance Code, Chapter 152, and this chapter.(e) What fees must I pay to maintain my money transmission or currency exchange license? You must pay your annual assessment. Subject to paragraph (3) of this subsection, the amount of your annual assessment is determined based on the total annual dollar amount of your Texas money transmission and/or currency exchange transactions, as applicable, as reflected on your most recent annual report filed with the department under Finance Code, §152.107(d)(2). (1) If you hold a currency exchange license, you must pay the annual assessment specified in the following table: Attached Graphic
(2) If you hold a money transmission license, you must pay the annual assessment specified in the following table: Attached Graphic
(3) If you are a new license holder and have not yet filed your first annual report under Finance Code, §152.107(d)(2), you must pay an examination fee of $120 per hour for each examiner and all associated travel expenses for an examination.(4) Adjustments for inflation. In this section, "GDPIPD" means the Gross Domestic Product Implicit Price Deflator, published quarterly by the Bureau of Economic Analysis, United States Department of Commerce. The "annual GDPIPD factor" is equal to the percentage change in the GDPIPD index values published for the first quarter of the current year compared to the first quarter of the previous year (the March-to-March period immediately preceding the calculation date), rounded to a hundredth of a percent (two decimal places). (A) Beginning September 1, 2025, and each September 1 thereafter, the tables in paragraphs (1) and (2) of this subsection, as most recently revised before such date pursuant to this subsection, may be revised by the commissioner as follows: (i) the base assessment amount, listed in column three of each table may be increased (or decreased) by an amount proportionate to the measure of inflation (or deflation) reflected in the annual GDPIPD factor, rounded to whole dollars; (ii) each factor listed in column three of each table may be increased (or decreased) by an amount proportionate to the measure of inflation (or deflation) reflected in the annual GDPIPD factor, rounded to the number of decimal places set forth in the applicable row; and (iii) the maximum assessment amount, listed in column three, row eight of each table may be increased (or decreased) by an amount proportionate to the measure of inflation (or deflation) reflected in the annual GDPIPD factor, rounded to whole dollars. (B) If the table in paragraphs (1) and (2) of this subsection are revised for inflation (or deflation), then not later than August 1 of each year, the department shall calculate and prepare revised tables reflecting the inflation-adjusted values to be applied effective the following September 1, and will provide each license holder with notice of and access to the revised table.(f) What fees must I pay in connection with a department investigation? (1) If the commissioner considers it necessary or appropriate to investigate you or another person in order to administer and enforce Finance Code, Chapter 152, as authorized under §152.056, you or the investigated person must pay the department an investigation fee calculated at a rate of $120 per employee hour for the investigation and all associated travel expenses.(2) If the commissioner determines that it is necessary to employ a third-party screening service to assist with an investigation, you must pay the department for the costs incurred for the third-party investigation.(3) If the commissioner determines it is necessary to perform background checks using fingerprint identification records in an investigation, you must pay the department the costs incurred for this service.(g) What fees must I pay in connection with a proposed change of control of my money transmission or currency exchange business?(1) You must pay a non-refundable $1,000 fee at the time you file an application requesting approval of your proposed change of control.(2) You must pay a non-refundable $500 fee to obtain the department's prior determination of whether a person would be considered a person in control and whether a change of control application must be filed. If the department determines that a change of control application is required, the prior determination fee will be applied to the fee required under paragraph (1) of this subsection.(3) If the department's review of your change of control application or prior determination request requires more than eight employee hours, you must pay an additional review fee of $120 per employee hour for every hour in excess of eight hours.(4) The commissioner may reduce the filing fees described in paragraph (1) or (2) of this subsection, if the commissioner determines that a lesser amount than would otherwise be collected is necessary to administer and enforce Finance Code, Chapter 152, and this chapter.(h) What other fees must I pay? (1) If the department does not receive your completed annual report on or before the due date prescribed by the commissioner under Finance Code, §152.107, you must pay a late fee of $100 per day for each business day after the due date that the department does not receive your completed annual report.(2) If more than one examination is required in the same fiscal year because of your failure to comply with Finance Code, Chapter 152, this chapter, or a department directive, you must pay for the additional examination at a rate of $120 per hour for each examiner required to conduct the additional examination and all associated travel expenses. A fiscal year is the 12-month period from September 1st of one year to August 31st of the following year.(3) If the department travels out-of-state to conduct your examination, you must pay for all associated travel expenses.(4) If the commissioner determines it is necessary to conduct an on-site examination of your authorized delegate to ensure your compliance with Finance Code, Chapter 152, you must pay an examination fee of $120 per hour for each examiner and any associated travel expenses.(i) How and when do I need to pay for the fees required by this section? (1) You must pay the license application fees required under subsection (d)(1) and (2) of this section at the time you file your application for a license.(2) The department will bill you by written invoice for any investigation and third-party screening service fees under subsection (d)(1)(A), (B), or (C) of this section. You must pay the fees within 10 days of receipt of the department's written invoice.(3) Your annual assessment required under subsection (e) of this section may be billed in quarterly or fewer installments in such periodically adjusted amounts as reasonably necessary to pay for the costs of examination and to administer Finance Code, Chapter 152. You must pay the annual assessment fee by ACH debit, or by another method if directed to do so by the department. At least 15 days prior to the scheduled ACH transfer, the department will send you a notice specifying the amount of the payment due and the date the department will initiate payment by ACH debit. The commissioner may decrease your annual assessment if it is determined that a lesser amount than would otherwise be collected is necessary to administer the Act.(4) You must pay the investigation fee required under subsection (f) of this section within 10 days of receipt of the department's written invoice.(5) You must pay the filing fees required by subsection (g) of this section at the time you file your proposed change of control or prior determination request. You must pay any required additional fees within 10 days of receipt of the department's written invoice.(6) If you owe a late fee as provided by subsection (h)(1) of this section, you must pay this fee immediately upon receipt of the department's written invoice.(7) The department will bill you for any additional examination fees required under subsection (h)(2), (3) or (4) of this section by written invoice. You must pay this additional examination fee within 10 days of receipt of the department's written invoice.(8) A fee is considered paid as of the date the department receives payment.(j) What if I cannot afford the annual assessment?(1) This subsection applies only if you hold a currency exchange license. If you are experiencing financial difficulties, you may be able to obtain a temporary reduction in the amount of your annual assessment for one year by meeting the requirements of this subsection.(2) To request a reduction in your annual assessment, you must file a written application as described in paragraph (2)(A) of this subsection and the commissioner must find that your application satisfies the requirements described in paragraph (2)(B) of this subsection. If the commissioner decides to reduce your annual assessment, the commissioner has discretion to determine the amount of the reduction.(A) To request a reduction in your annual assessment, you must: (i) file a written application with the department not later than 10 days before the date the current annual assessment is due, accompanied by a written business recovery plan and other supporting documentation sufficient to demonstrate that you satisfy each factor described in paragraph (2)(B) of this subsection; and(ii) file any additional documentation the department requests not later than the seventh day after the date you receive the written request.(B) The commissioner will not reduce your annual assessment unless the commissioner finds, based on your application and supporting documentation, that:(i) Your payment of the full assessment will cause you to become financially insolvent, and your current or impending financial condition is temporary and you reasonably expect to have the ability to pay your annual assessment in full by at least the third year after the year in which your request is made, based on a written business recovery plan that is reasonable and attainable; or(ii) your business is temporarily closed during the annual assessment period and you have conducted no currency exchange activities during that period.7 Tex. Admin. Code § 33.27
The provisions of this §33.27 adopted to be effective August 31, 2006, 31 TexReg 6643; amended to be effective November 10, 2011, 36 TexReg 7508; amended to be effective January 2, 2014, 38 TexReg 9486; amended to be effective September 4, 2014, 39 TexReg 6827; Amended by Texas Register, Volume 42, Number 52, December 29, 2017, TexReg 7581, eff. 1/4/2018; Amended by Texas Register, Volume 43, Number 18, May 4, 2018, TexReg 2747, eff. 5/10/2018; Amended by Texas Register, Volume 44, Number 44, November 1, 2019, TexReg 6522, eff. 11/7/2019; Amended by Texas Register, Volume 45, Number 27, July 3, 2020, TexReg 4599, eff. 7/12/2020; Amended by Texas Register, Volume 47, Number 18, May 6, 2022, TexReg 2735, eff. 5/12/2022; Amended by Texas Register, Volume 48, Number 45, November 10, 2023, TexReg 6584, eff. 11/16/2023; Amended by Texas Register, Volume 49, Number 35, August 30, 2024, TexReg 6735, eff. 9/5/2024