Maryland has amended its Money Transmission Act to exclude certain payroll processors from the definition of 'money transmitter.' This change is aimed at streamlining compliance for payroll processing firms.
What changed
Effective October 1, 2026, qualifying payroll processors are exempt from licensing requirements.
Compliance perspective
Payroll processors can surrender licenses or allow them to expire as of December 31, 2026.
Key date
Effective date: October 1, 2026.
Need help keeping up with these changes?
Tell us where you operate and what licenses you hold; we'll handle the filings and renewals so changes like this do not catch you off guard.