money transmitter
Louisiana Money Transmitter Laws & Licensing
Complete guide to money transmitter licensing in Louisiana. Covers application requirements, surety bond amounts, net worth minimums, FinCEN registration, and key statutes governing money transmission in Louisiana.
Louisiana money transmitter requirements at a glance
| Surety bond | Minimum $100,000, up to a maximum of $500,000, or a higher amount deemed appropriate by the Commissioner up to a maximum of $1,000,000 |
|---|---|
| Minimum net worth | $100,000 |
| Renewal cadence | Annual |
| FinCEN MSB registration | Required |
Application process
To obtain a money transmitter license in Louisiana, applicants generally need to submit a completed application to the Louisiana OFI, provide a surety bond of $25,000-$500,000, demonstrate minimum net worth of $100,000, provide audited financial statements, implement a comprehensive BSA/AML filings program, and pass background checks for all control persons. Many states now accept applications through NMLS. The application process typically takes 3-12 months depending on the state and complexity of the applicant's business model.
Renewals
Money transmitter licenses in Louisiana generally require annual renewal. Renewal typically requires submission of audited financial statements, updated surety bond, quarterly or annual transaction reports, BSA/AML filing documentation, and payment of renewal fees. Some states require call report filings on a quarterly basis throughout the year.
Money transmitters operating in Louisiana are also generally expected to register with FinCEN as a money services business (MSB) and implement a comprehensive BSA/AML filings program. This includes appointing a filings officer, developing written policies and procedures, conducting employee training, filing Currency Transaction Reports (CTRs), and submitting Suspicious Activity Reports (SARs). Louisiana may have specific requirements for cryptocurrency and virtual currency businesses.
Key statutes
- Sale of Checks and Money Transmission, license qualifications (La. R.S. 6:1031 et seq.) . Requires an applicant for a new or renewed money transmission licence to have net worth of at least $100,000 computed under generally accepted accounting principles.
- Louisiana Money Transmission Act (Act 888 / HB 1230, 2026) (La. R.S. 6:1041 et seq. (Louisiana Money Transmission Act)) . The MTMA-based LMTA sets the money transmission surety bond at a minimum of $100,000 up to $500,000, increasable by the Commissioner to $1,000,000.
Federal baseline
Federal law applies in every state, not just this one.
- Bank Secrecy Act (31 U.S.C. § 5311) . Federal BSA/AML requirements for money services businesses
