Identifying Qualifying Individuals

Identify and maintain the company’s Qualifying Individual (QI) in the MU1 filing; updates may require advance notice and trigger an MU2 filing for the individual.

About this task

Use the Qualifying Individuals section of the Company (MU1) Form to designate the individual who meets state-specific requirements to represent the company. Jurisdictions may use different terms for this role (for example, Qualified Person in Charge (QPIC) or Managing Principal) and impose education, experience, or testing requirements. Many states require an Advance Change Notice before changing a Qualifying Individual; consult the State Licensing Checklist Compiler for details. For authoritative definitions and requirements, see the NMLS Policy Guide.
Important: Identifying a Qualifying Individual triggers an Individual (MU2) Form requirement for that person. The individual must have an NMLS account to complete and attest to the MU2.

Procedure

  1. Navigate to the NMLS Login page (State Context).
  2. Log in to your NMLS account.
  3. Select Filing > Company (MU1) from the menu.
    The Company Filing screen is displayed.
  4. Select Create New Filing.
    The Company Form (MU1) opens, beginning on the Business Activities screen.
  5. Open the Qualifying Individuals section.
  6. To add a Qualifying Individual:
    1. Click Add.
    2. Search by Individual ID, License Number, or First Name and Last Name, then click Search.
      Note: If the person is not found, click Create Individual and complete the required fields.
    3. Select the individual and complete required fields (for example, title, business address, and any state/industry assignment fields shown).
    4. Click Save.
  7. To amend State(s) or Industry Type(s) for an existing Qualifying Individual:
    1. Click the Edit icon.
    2. Select Do you want to amend the State or Industry Type? and modify the information as needed.
      Note: The Effective Date is required and cannot be in the past.
    3. Click Save.
  8. To amend the Title or Business Address for an existing Qualifying Individual:
    1. Click the Edit icon.
    2. Update the Title and/or Business Address fields.
    3. Click Save.
  9. To remove a Qualifying Individual:
    1. Click the Delete icon next to the record.
    2. Enter the required Effective Date (cannot be in the past) and any additional information requested.
    3. Click Save.
  10. Confirm the section is error‑free via completeness check, and ensure the identified individual completes and attests to their MU2 filing.