MSB Call Report Financial Condition

Accordance with GAAP

Unless otherwise directed in the NMLS MSB Call Report Sections and Definitions, the report requires licensees to present their financial condition as follows:
  1. In accordance with U.S. generally accepted accounting principles (GAAP) unless as directed in the MSB Call Report Field Definitions; and
  2. In U.S. Dollars.
Virtual currency valuation must be in U.S. Dollars and should be based on a generally accepted exchange rate and the licensee, when requested, should be able to document and substantiate how they arrived at the valuation.

Consolidated Financial Information

The financial information provided in the Financial Condition Report (Section I) of the NMLS MSB Call Report must be reflective of the licensee’s activities and is only required to be completed once per licensee per calendar year quarter. The financial statements must be consolidated at the licensee level. Financial condition information shall include consolidated financial data for the licensee submitting the report inclusive of its subsidiaries, in accordance with GAAP consolidation rules. Consolidated financial information at the parent level or that contains parent company financial information is not acceptable for the NMLS MSB Call Report.

Audited Financial Statements

In adopting states, companies that, under state laws or regulations, are required to submit a self-prepared financial statement as part of maintaining a money services business license or registration may use the NMLS MSB Call Report to meet this requirement. Companies that are required to submit a Compiled, Reviewed, or Audited financial statement must continue to submit these financial statements through the existing financial statements functionality in NMLS in addition to the NMLS MSB Call Report.