FINTRAC MSB Registration: The Complete 2026 Checklist
Everything you need before you register an MSB with FINTRAC: documents, criminal record checks, a compliance program, and what to do after approval.
Quick answer: To register a money services business (MSB) with FINTRAC, you need to:
- confirm which MSB activities you offer
- gather your business and ownership details
- get criminal record checks for your CEO, president, directors and anyone owning or controlling 20% or more (issued within the last 6 months)
- appoint a compliance officer and have a compliance program ready
You must register before you start operating. FINTRAC doesn't charge a fee, registration lasts two years, and you must report changes within 30 days.
Before you start: do you actually need to register?
You need to register with FINTRAC if you offer any of these services in Canada, or to people in Canada from abroad:
- Foreign exchange dealing
- Remitting or transmitting funds
- Issuing or redeeming money orders, traveller's cheques or similar
- Dealing in virtual currency (exchange or transfer)
- Providing crowdfunding platform services
Being licensed by a province doesn't replace FINTRAC registration. Not sure? Read do you qualify as a money services business in Canada.
The FINTRAC MSB registration checklist
1. Your business details
- Legal name, any operating names, and your incorporation documents
- Head office and branch addresses. A real Canadian address matters; see FINTRAC's address requirements.
- Every MSB activity you'll offer. Register all of them, not just your main one.
- Your bank account details
- Agents or mandataries, if you use any
2. Ownership and control
- Your CEO, president and directors
- Everyone who owns or controls 20% or more of the business, directly or indirectly
- An ownership chart if you have layers of companies. This is where many applications slow down.
3. Criminal record checks
- Checks for the CEO, president, every director and every 20%+ owner
- Issued by the authority in the country where each person lives
- Issued no more than 6 months before you apply
- Certified translation into English or French if needed
- Clear, readable copies. FINTRAC rejects illegible documents.
- Copies kept for at least 5 years
4. Your compliance program
FINTRAC expects a working program from day one:
- A named compliance officer with real authority. Many new MSBs use an outsourced CAMLO.
- Written policies and procedures: KYC, record keeping, reporting, sanctions screening, and the travel rule if you deal in crypto
- A documented risk assessment of your products, customers, channels and countries
- A written training program for staff and agents
- A plan for an independent effectiveness review at least every two years
5. Eligibility
- Nobody in leadership or ownership is a listed terrorist or has a conviction that would make the business ineligible
How to submit your registration
You register online through FINTRAC's MSB registration system. FINTRAC may send clarification requests, and you have 30 days to respond. Quick, complete answers keep your application moving. See why FINTRAC delays MSB applications.
There's no registration fee. If anyone asks you to pay FINTRAC to register, it's a scam. See how the registration fee scam works.
After you're registered
- Check your listing on FINTRAC's public MSB Registry. It's updated monthly, and you can also use our free MSB Registry Search.
- Report changes within 30 days, such as new owners, addresses, activities or agents. If you miss the deadline, FINTRAC can revoke your registration.
- Renew every two years, before your expiry date. If you apply in time, you stay registered while FINTRAC processes the renewal. See renewing your MSB registration.
- Run your compliance program, not just the paperwork. FINTRAC examines registered MSBs, and penalties rose sharply in 2026. See FINTRAC penalties for MSBs.
Common mistakes that slow down registration
- Leaving out an MSB activity you actually offer
- Ownership charts that stop before reaching the real people at the top
- Criminal record checks that are too old, missing a translation, or unreadable
- No real compliance officer, or a founder named without the time or background
- Policies copied from a template that don't match the business
Frequently asked questions
How long does FINTRAC MSB registration take?
It depends on how complete your application is and how many clarification requests FINTRAC sends. Complete, consistent documents are the fastest route.
Does FINTRAC charge a fee to register an MSB?
No. FINTRAC doesn't charge a registration fee.
Who needs a criminal record check?
The CEO, president, every director, and anyone who owns or controls 20% or more of the business. Each check must be issued within 6 months of applying.
How long does FINTRAC registration last?
Two years. Apply to renew before it expires.
Do I need a provincial licence too?
In Quebec, yes. MSBs there also need a licence from Revenu Québec. See does the province matter for MSB registration.
Can a foreign company register as an MSB in Canada?
Yes. Foreign MSBs that serve people in Canada must register as foreign money services businesses and meet the same core obligations.
AML Incubator helps businesses prepare complete FINTRAC applications, set up compliance programs and provide outsourced compliance officers.
