MSB/fMSB License Renewal

Need to renew your MSB or fMSB license in Canada?

In Canada, you can providAll FINTRAC-registered Money Services Businesses (MSBs) must renew their license every two years to stay compliant. Missing the renewal deadline can put your business at risk.
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We help fintech and payment companies renew their MSB/fMSB registrations—on time, without hassle.

Service

MSB/FMSB Renewal (Standard)

Renewal Eligibility Review

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Document Update & Review

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AML Policy Update

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Risk Assessment Update

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FINTRAC Renewal Submission

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Dedicated Contact

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Regulatory Advice

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Optional Compliance Officer

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Price

MSB License Renewal Overview

All MSBs registered with FINTRAC must ensure their license is renewed before expiration to remain compliant and operational.

Canadian MSB

Details

Renewal Frequency

Every 2 years

Renewal Timeline

Typically takes 2–3 months

Renewal Deadline

At least 30 days before license expiry

What Happens If You Miss the Deadline?

Failing to renew your MSB/fMSB license on time can lead to:

Loss of License: Your registration may lapse or be revoked
Operational Disruption: You cannot legally provide services
Banking Risk: Banks may freeze or close your accounts
Regulatory Penalties: FINTRAC may impose fines or sanctions

FAQ

1. When do you Have to Perform MSB License Renewal?

MSB license renewal must be performed every two years in Canada. You must start the process before your current license expires, according to FINTRAC regulations.

2. How Long Does MSB License Renewal Take?

You should expect to wait two to three months for MSB license renewal approval in Canada.

3. Do you Need a Provincial License for Canadian MSB License Renewal?

Canadian MSBs must renew their provincial license if they’re operating in Quebec. The province requires you to obtain an operating license from Revenu Quebec, besides the FINTRAC MSB license. After renewing the latter, you must also renew your provincial license.

4. What are the Requirements for MSB License Renewal in Canada?

Canada MSB license renewal requirements state that you must renew your license at least 30 days before your current one expires.

5. How Does Renno Co. & Fintech Help With MSB License Renewal?

At Renno Co. & Fintech, we specialize in comprehensive MSB and foreign MSB (fMSB) renewal services. Our team helps by guiding you through the entire FINTRAC compliance process, developing AML policies, and outsourcing a compliance officer to ensure your MSB remains compliant.