Depository Institutions
| Institution | Banking Law | Fee |
|---|---|---|
| Banks & Trust Companies (including Limited Purpose Trust Companies) | ||
| Charter Application | 23 | $12,500 |
| Branch (not in a Banking Development District) or Public Accommodation Office | 29 / 191 | $750 |
| Branch (in a BDD) | 29 / 96-d | $0 |
| Trust Office (New York bank/trust company) | 105-b | $750 |
| Change of Location (Temporary and Permanent) | 28-a and 113 | $750 |
| Change of Location (Temporary due to emergency) | 28-a | $0 |
| Change of Control | 143-b.2 | $12,500 |
| Acquisition of Banking Institution (no change of control) | 143-a | $12,500 |
| Conversion (From National to State) | 136.5 | $12,500 |
| Merger (National to State) | 136.5 | $12,500 |
| Purchase of Assets (by State from Federal) | 136-a | $12,500 |
| Merger | 601.1 | $12,500 |
| Purchase of Assets | 601-a | $12,500 |
| Sale or Conveyance of More Than 50% of Assets | 605.8 | $12,500 |
| Investments Pursuant to 97(5) | 97(5) | $0 |
| Fiduciary Powers | 4001.9 | $0 |
| Out-of-State, State-Chartered Banking Institutions | ||
| Additional NY Branch (after initial entry) | 224 | $750 / 0* |
| Change of Location (Temporary and Permanent) | 225-b / 28-a / 203 | $750 / 0* |
| Change of Location (Temporary due to emergency) | 225-b/28-a | $0 |
| *Fee is waived when applicant's home state regulator charges no fee for an additional branch or the relocation of a branch of a New York institution | ||
| Savings Banks - Mutual | ||
| Charter Application | 23 | $12,500 |
| Branch (not in a Banking Development District) or Public Accommodation Office | 29 / 191 | $750 |
| Branch (in a BDD) | 29 / 96-d | $0 |
| Change of Location (Temporary and Permanent) | 28-a / 241.1 | $750 |
| Change of Location (Temporary due to emergency) | 28-a | $0 |
| Conversion (From Federal to State) | 412 | $12,500 |
| Merger | 601 | $12,500 |
| Purchase of Assets | 601-a | $12,500 |
| Sale, Lease, Exchange or Other Disposition of Property | 601-c(1)(b) | $0 |
| Sale or Conveyance of More Than 50% of Assets | 605.8 | $12,500 |
| Conversion (from Mutual to Stock Form) | 14-e.2 | $12,500 |
| Fiduciary Powers | 234-b | $0 |
| Savings Banks - Stock Form | ||
| Charter Application | 23 / 14-e.2 | $12,500 |
| Branch (not in a Banking Development District) or Public Accommodation Office | 29 / 191 | $750 |
| Branch (in a BDD) | 29 / 96-d | $0 |
| Change of Location (Temporary and Permanent) | 28-a / 241.1 | $750 |
| Change of Location (Temporary due to emergency) | 28-a | $0 |
| Change of Control | 143-b.2 | $12,500 |
| Conversion (From Federal to State) | 412 | $12,500 |
| Merger (Federal to State) | 600 / 14-e.2 | $12,500 |
| Purchase of Assets (By State from Federal) | 601-a / 14-e.2 | $12,500 |
| Merger | 601 | $12,500 |
| Purchase of Assets | 601-a | $12,500 |
| Sale or Conveyance of More Than 50% of Assets | 605.8 | $12,500 |
| Acquisition of Banking Institution (no change of control) | 143-a | $12,500 |
| Fiduciary Powers | 234-b | $0 |
| Savings & Loans - Mutual | ||
| Charter Application | 23 | $12,500 |
| Branch (not in a Banking Development District) or Public Accommodation Office | 29 / 191 | $750 |
| Branch (in a BDD) | 29 / 96-d | $0 |
| Change of Location (Temporary and Permanent) | 28-a / 396 | $750 |
| Change of Location (Temporary due to emergency) | 28-a | $0 |
| Conversion (From Federal to State) | 410 / 412 | $12,500 |
| Merger | 601 | $12,500 |
| Purchase of Assets | 601-a | $12,500 |
| Sale, Lease, Exchange or Other Disposition of Property | 601-c(1)(c) | $0 |
| Sale or Conveyance of More Than 50% of Assets | 605.8 | $12,500 |
| Conversion (from Mutual to Stock Form) | 14-e.2 | $12,500 |
| Conversion (to Savings Bank) | 23 / 411 | $12,500 |
| Fiduciary Powers | 380-h | $0 |
| Savings & Loans - Stock Form | ||
| Charter Application | 23 / 14-e.2 | $12,500 |
| Branch (not in a Banking Development District) or Public Accommodation Office | 29 / 191 | $750 |
| Branch (in a BDD) | 29 / 96-d | $0 |
| Change of Location (Temporary and Permanent) | 28-a / 396 | $750 |
| Change of Location (Temporary due to emergency) | 28-a | $0 |
| Change of Control | 143-b.2 | $12,500 |
| Conversion (From Federal to State) | 410 | $12,500 |
| Merger (Federal to State) | 600 / 14-e.2 | $12,500 |
| Purchase of Assets (By State from Federal) | 601-a / 14-e.2 | $12,500 |
| Merger | 601 | $12,500 |
| Purchase of Assets | 601-a | $12,500 |
| Sale or Conveyance of More Than 50% of Assets | 605.8 | $12,500 |
| Acquisition of Banking Institution (no change of control) | 143-a | $12,500 |
| Conversion (to Savings Bank) | 23 / 411 | $12,500 |
| Fiduciary Powers | 380-h | $0 |
| Credit Unions | ||
| Charter Application | 23 | $12,500 |
| New Station | 461 | $750 |
| Change of Location (Temporary and Permanent) | 28-a / 461 | $750 |
| Change of Location (Temporary due to emergency) | 28-a | $0 |
| Designation of Student Branches | 450-b | $0 |
| Conversion (From Federal to State) | 486 | $12,500 |
| Conversion (to Mutual Savings Bank) | 487-a | $12,500 |
| Merger | 601.1 | $12,500 |
| Sale or Conveyance of More Than 50% of Assets | 605.8 | $12,500 |
| Fiduciary Powers | 455 | $0 |
| Foreign Banks - Branches & Agencies | ||
| License Application | 26 | $7,500 |
| Public Accommodation Office | 191 | $750 |
| Change of Location (Temporary and Permanent) | 28-a / 203.1 | $750 |
| Change of Location (Temporary due to emergency) | 28-a | $0 |
| Fiduciary Powers | 201-b | $0 |
| Foreign Banks - Representative Offices | ||
| Foreign Banks - Representative Offices | ||
| License Application | 26 | $7,500 |
| Change of Location (Temporary) | 28-a | $0 |
| Change of Location (Temporary due to emergency) | 28-a | $0 |
| Private Bankers | ||
| Initial Verified Certificate | 23 | $12,500 |
| Verified Certificate (Continuation of Business) | 24 | $750 |
| Branch | 29 | $750 |
| Change of Location (Temporary and Permanent) | 28-a / 164 | $750 |
| Change of Location (Temporary due to emergency) | 28-a | $0 |
| Investment Companies | ||
| Charter Application | 23 | $12,500 |
| Branch (unless exempt under 508.4) | 29 / 508.4 | $750 |
| Change of Location (Temporary and Permanent) | 28-a / 511 | $750 |
| Change of Location (Temporary due to emergency) | 28-a | $0 |
| Change of Control | 519 | $12,500 |
| Merger | 601 | $12,500 |
| Purchase of Assets | 601-a | $12,500 |
| Sale or Conveyance of More Than 50% of Assets | 605.8 | $12,500 |
| Safe Deposit Companies | ||
| Charter Application | 23 | $12,500 |
| Branch | 29 | $750 |
| Change of Location (Temporary and Permanent) | 28-a / 321 | $750 |
| Change of Location (Temporary due to emergency) | 28-a | $0 |
| Change of Control | 324 | $12,500 |
| Merger | 601 | $12,500 |
| Purchase of Assets | 601-a | $12,500 |
| Sale or Conveyance of More Than 50% of Assets | 605.8 | $12,500 |
| Holding Companies | ||
| Initial or Expansion Application | 142 | $12,500 |
| Acquisition of Banking Institution (no change of control) | 143-a | $12,500 |
| Mutual Holding Companies | ||
| Initial Application | 290 | $0 |
| Conversion (from Mutual to Stock Form) | 294 / 14-e.2 | $12,500 |
| Sale of up to 49% of Subsidiary Bank Stock | 290.1 / 14-e.2 | $12,500 |
| Virtual Currency Businesses | ||
| Application Fee - BitLicense | $5,000.00 | |
Non-Depository Institutions
| Institution | Banking Law | Fee |
|---|---|---|
| Check Cashers | ||
| Original License | 367.3 | $3,000 |
| Additional Regular Location | 367.3 | $2,000 |
| Mobile Location | 367.3 | $2,000 |
| Limited Station | 370.2 | $500 |
| Change of Location (Regular) | 367.3 | $2,000 |
| Change of Location (Mobile) | 367.3 | $500 |
| Change of Location (Limited) | 367.3 | $0 |
| Change of Control | 370-a.1 | $3,000 |
| Money Transmitters | ||
| Original License | 641.3 | $3,000 |
| Change of Control | 652-a.1 | $3,000 |
| Licensed Lenders | ||
| Master License | 341.2 | $3,000 |
| Additional Location (Temporary and Permanent) | 341.6 | $500 |
| Change of Location | 343.3.a | $500 |
| Change of Control | 345.1 | $3,000 |
| Acquisition, Merger, Consolidation, Purchase of Assets | 344.1 | $3,000 |
| Sales Finance Companies | ||
| Original License (1 location / 3 or more locations) | 492.4.b and c | $3000 / $4000 |
| Additional Place of Business | 492.4.c | $500 |
| Change of Control | 492-a.1 | $3,000 |
| Premium Finance Companies | ||
| Original License (1 location / 3 or more locations) | 555.4 | $3000 / $4000 |
| Additional Office | 555.3 | $500 |
| Change of Control | 555-a.1 | $3,000 |
| Budget Planners | ||
| Original License | 580.3 | $3,000 |
| Additional Branch / Office License | 580.2 | $0 |
| Change of Control | 583-a.1 | $3,000 |
Pharmacy benefit managers
Pharmacy benefit managers (PBM) must apply for a license from the Department to perform PBM services in New York, including the payment of a non-refundable licensing fee. Licenses may be renewed.
| Entity | Insurance Law | Fee |
|---|---|---|
| Pharmacy Benefit Managers | 2906 | $24,000 for 3 years (36 months) from the date issued |
Mortgage Industry
| Institution | Banking Law | Fee |
|---|---|---|
| Mortgage Bankers | ||
| Original License | 591.2 | $3,000 |
| Branch License | 591.3 | $500 |
| Change of Control | 594-b.1 | $3,000 |
| Mortgage Brokers | ||
| Original Registration | 591-a | $1,500 |
| Branch | 591-a.2 | $500 |
| Change of Control | 594-b | $1,500 |
| Mortgage Loan Originator | ||
| Original License | 599-d | $250 |
| Mortgage Loan Servicer | ||
| Original Registration | 590.2(b-1) | $3,000 |
| Branch | 590.2(b-1) & (c) | $500 |
| Change of Control | 594.b.1 | $3,000 |
Property/Casualty Agent and Broker Fees
Resident vs. Non-resident Status
- If you declared New York state as your home state, pay the fee listed on the chart for New York.
- If you declared a home state other than New York, pay the license fee listed on the chart for the state you declared.
Fee to be Submitted with Application
The term for broker licenses is up to two years.
- Individuals/TBA: Effective date of issued license to date of birth expiration. If you were born in an even numbered year, your license will expire on your birthday in an even numbered year. If you were born in an odd numbered year, your license will expire on your birthday in an odd numbered year.
- Property/Casualty Agent Entities: July 1 to June 30 of even numbered years.
- Property/Casualty Broker Entities: November 1 to October 31 of even numbered years.
To calculate the licensing fee for an application to be issued for a period greater than one year, add the licensing fee plus any retaliatory fee listed.
To calculate the licensing fee for an application to be issued for one year or less, add one-half (1/2) of the licensing fee plus the whole retaliatory fee listed.
Note: If a license expired within the last 2 years and the applicant was required to document Continuing Education if they renewed the license, they must also include the required documentation of the accumulation of 15 credits of CE and a $10.00 filing fee (per application, not per sub-licensee).
| State | Individual/ Partnership/ Corp/ LLC Retaliatory Fee | Individual License | Partnership/ Corp/ LLC License |
|---|---|---|---|
| Alabama | $20 | $80 | $80 plus $80 per sub-licensee |
| Alaska | $200 | $400 plus $80 per sub-licensee | |
| Arizona | $80 | $80 plus $80 per sub-licensee | |
| Arkansas | $80 | $135 with 1 sub-licensee plus $80 for each additional sub-licensee | |
| California | $144 | $144 plus $144 per sub-licensee. | |
| Colorado | $93.50 | $93.50 per sub-licensee | |
| Connecticut | $25 | $80 | $80 plus $80 per sub-licensee |
| Delaware | $80 | $80 plus $80 per sub-licensee | |
| District of Columbia | $100 | $100 with 1 sub-licensee plus $100 for each additional sub-licensee | |
| Florida | $50 | $80 | $80 per sub-licensee |
| Georgia | $100 | $100 per sub-licensee | |
| Hawaii | $300 | $300 up to 4 sub-licensees; $80 for each additional sub-licensee | |
| Idaho | $80 | $80 plus $80 per sub-licensee | |
| Illinois | $250 | $150 plus $250 per sub-licensee | |
| Indiana | $80 | $80 plus $80 per sub-licensee | |
| Iowa | $80 | $80 per sub-licensee | |
| Kansas | $30 | $80 | $100 per sub-licensee |
| Kentucky | $80 | $120 plus $120 per sub-licensee | |
| Louisiana | $80 | $80 plus $80 per sub-licensee | |
| Maine | $85 | $85 plus $85 per sub-licensee | |
| Maryland | $80 | $80 plus $80 per sub-licensee | |
| Massachusetts | $200 | $200 per sub-licensee | |
| Michigan | $10 | $80 | $80 per sub-licensee |
| Minnesota | $100 | $200 plus $100 per sub-licensee | |
| Mississippi | $80 | $100 plus $80 per sub-licensee | |
| Missouri | $100 | $100 plus $100 per sub-licensee | |
| Montana | $200 | $200 plus $80 per sub-licensee | |
| Nebraska | $80 | $80 per sub-licensee | |
| Nevada | $135 | $135 plus $135 per sub-licensee | |
| New Hampshire | $210 | $210 per sub-licensee | |
| New Jersey | $190 | $190 plus $80 per sub-licensee | |
| New Mexico | $80 | $80 plus $80 per sub-licensee | |
| New York | $80 | $80 per sub-licensee | |
| North Carolina | $200 | $200 plus $80 per sub-licensee | |
| North Dakota | $80 | $80 plus $80 per sub-licensee | |
| Ohio | $80 | $80 per sub-licensee | |
| Oklahoma | $80 | $80 plus $80 per sub-licensee | |
| Oregon | $80 | $80 plus $80 per sub-licensee | |
| Pennsylvania | $110 | $110 plus $80 per sub-licensee | |
| Rhode Island | $110 | $110 plus $80 per sub-licensee | |
| South Carolina | $80 | $80 per sub-licensee | |
| South Dakota | $80 | $80 per sub-licensee | |
| Tennessee | $80 | $80 per sub-licensee | |
| Texas | $80 | $80 plus $80 per sub-licensee | |
| Utah | $80 | $80 plus $80 per sub-licensee | |
| Vermont | $80 | $80 plus $80 per sub-licensee | |
| Virginia | $80 | $80 plus $80 per sub-licensee | |
| Washington | $5 | $80 | $80 plus $80 per sub-licensee |
| West Virginia | $80 | $80 per sub-licensee | |
| Wisconsin | $135 | $135 plus $135 per sub-licensee | |
| Wyoming | $150 | $150 per sub-licensee | |
| US Territories | |||
| Puerto Rico | Do Not Issue | $800 includes all sub-licensees | |
| Virgin Islands | $400 | $400 plus $400 per sub-licensee | |
| Canada | |||
| Alberta | $150 | $150 plus $150 per sub-licensee | |
| Manitoba | $340 | $340 per sub-licensee | |
| Northwest Territories | $10 | $80 | $80 per sub-licensee |
| Nova Scotia | $80 | $225 plus $80 per sub-licensee | |
| Ontario | Individuals & Sub-licensees must pass exam | $270 | $270 per sub-licensee |
| Quebec | $100 | $1,000 | $1,000 per sub-licensee |
| Saskatchewan | $140 | $190 plus $140 per sub-licensee | |
| Yukon Territories | $5 | $200 | $200 per sub-licensee |
Life/Accident & Health Agent and Broker Fees
Resident and Non-Resident Status
- If you declared New York State as your home state, pay the fee listed on the chart for New York.
- If you declared a home state other than New York, pay the license fee listed on the chart for the state declared as the home state and in which you are a licensed insurance producer.
Fee to be Submitted with Application
The term for agent licenses is up to two years.
- Individuals/TBA – License term is the date the license was issued to your date of birth. If you were born in an even numbered year, your license will expire on your birthday in an even numbered year. If you were born in an odd numbered year, your license will expire on your birthday in an odd numbered year.
- Life/Accident & Health Agent Entities – July 1 to June 30 of odd numbered years.
- Life/Accident & Health Broker Entities – November 1 to October 31 of even numbered years.
To calculate the licensing fee for an application to be issued for a period greater than one year, add the licensing fee plus any retaliatory fee listed.
To calculate the licensing fee for an application to be issued for one year or less, add one-half (1/2) of the licensing fee plus the whole retaliatory fee listed.
Note: If a license expired within the last 2 years and the applicant was required to document Continuing Education if they renewed the license, they must also include the required documentation of the accumulation of 15 credits of CE and a $10.00 filing fee (per application, not per sub-licensee).
| Individual License Fees | Entity License Fees | ||||||
|---|---|---|---|---|---|---|---|
State | Individual/Entity Retaliatory Fees | Basic (Life and/or Accident & Health) | VA Extra | Basic (Life and/or Accident & Health) | VA Extra | ||
| Alabama | $20 | $80 | $80 plus $80 per sub-licensee | ||||
| Alaska | $200 | $400 plus $80 per sub-licensee | |||||
| Arizona | $80 | $80 plus $80 per sub-licensee | |||||
| Arkansas | $80 | $135 with 1 sub-licensee plus $80 for each additional sub-licensee | |||||
| California | $144 | $144 plus $144 per sub-licensee | |||||
| Colorado | $93.50 | $93.50 | $93.50 per sub-licensee | $93.50 | |||
| Connecticut | $25 | $80 | $80 plus $80 per sub-licensee | ||||
| Delaware | $80 | $80 per sub-licensee | |||||
| District of Columbia | $100 | $100 with 1 sub-licensee plus $100 for each additional sub-licensee | |||||
| Florida | $50 | $80 | $80 per sub-licensee | ||||
| Georgia | $100 | $100 per sub-licensee | |||||
| Hawaii | $300 | $300 up to 4 sub- licensees; $80 for each additional sub-licensee | |||||
| Idaho | $80 | $80 per sub-licensee | |||||
| Illinois | $250 | $150 plus $250 per sub-licensee | |||||
| Indiana | $80 | $80 plus $80 per sub-licensee | |||||
| Iowa | $80 | $80 per sub-licensee | |||||
| Kansas | $30 | $ 80 | $80 per sub-licensee | ||||
| Kentucky | $ 80 | $120 plus $120 per sub-licensee | |||||
| Louisiana | $ 80 | $80 plus $80 per sub-licensee | |||||
| Maine | $ 85 | $85 plus $85 per sub-licensee | |||||
| Maryland | $ 80 | $80 plus $80 per sub-licensee | |||||
| Massachusetts | $150 | $150 per sub-licensee | |||||
| Michigan | $10 | $ 80 | $80 per sub-licensee | ||||
| Minnesota | $ 80 | $50 | $200 plus $80 per sub-licensee | $50 | |||
| Mississippi | $ 80 | $20 | $80 plus $80 per sub-licensee | $20 | |||
| Missouri | $100 | $100 plus $100 per sub-licensee | |||||
| Montana | $200 | $200 plus $80 per sub-licensee | |||||
| Nebraska | $ 80 | $80 plus $80 per sub-licensee | |||||
| Nevada | $135 | $135 plus $135 per sub-licensee | |||||
| New Hampshire | $210 | $210 per sub-licensee | |||||
| New Jersey | $190 | $190 plus $80 per sub-licensee | |||||
| New Mexico | $80 | $80 plus $80 per sub-licensee | |||||
| New York | $80 | $80 per sub-licensee | |||||
| North Carolina | $200 | $200 plus $80 per sub-licensee | |||||
| North Dakota | $80 | $80 plus $80 per sub-licensee | |||||
| Ohio | $80 | $80 per sub-licensee | |||||
| Oklahoma | $80 | $60 | $80 plus $80 per sub-licensee | $60 | |||
| Oregon | $80 | $80 plus $80 per sub-licensee | |||||
| Pennsylvania | $110 | $110 plus $80 per sub-licensee | |||||
| Rhode Island | $110 | $110 plus $80 per sub-licensee | |||||
| South Carolina | $80 | $80 plus $80 per sub-licensee | |||||
| South Dakota | $80 | $80 per sub-licensee | |||||
| Tennessee | $80 | $80 per sub-licensee | |||||
| Texas | $80 | $80 plus $80 per sub-licensee | |||||
| Utah | $80 | $80 plus $80 per sub-licensee | |||||
| Vermont | $80 | $80 plus $80 per sub-licensee | |||||
| Virginia | $80 | $80 plus $80 per sub-licensee | |||||
| Washington | $5 | $80 | $80 plus $80 per sub-licensee | ||||
| West Virginia | $80 | $80 per sub-licensee | |||||
| Wisconsin | $85 | $50 | $85 plus $85 per sub-licensee | $50 | |||
| Wyoming | $150 | $150 per sub-licensee | |||||
U.S. Territories
Territory | Individual/ Partnership/ Corporation/ LLC Retaliatory Fees | Individual License Fees | Corporation/ Partnership/ LLC License Fees |
| Guam | Do Not Issue | Do Not Issue | |
| Puerto Rico | Do Not Issue | $1,000 includes all sub-licensees | |
| Virgin Islands | $10 | $400 | $400 plus $400 per sub-licensee |
Canada
Province | Individual/ Partnership/ Corporation/ LLC Retaliatory Fees | Individual License Fees | Corporation/ Partnership/ LLC License Fees |
| Alberta | $200 | $200 per sub-licensee | |
| Manitoba | $340 | $340 per sub-licensee | |
| New Brunswick | Do Not Issue | Do Not Issue | |
| Newfoundland | $200 | $400 plus $200 per sub-licensee | |
| Northwest Territories | Do Not Issue | Do Not Issue | |
| Nova Scotia | $80 | $150 plus $80 per sub-licensee | |
| Ontario | $ 75 | $150 | Do Not Issue |
| Prince Edward Island | Do Not Issue | Do Not Issue | |
| Quebec | $150 | $400 plus $150 per sub-licensee. Do Not Issue Partnerships | |
| Saskatchewan | $140 | $210 plus $140 per sub-licensee | |
| Yukon | Do Not Issue | Do Not Issue |
Life, Accident and Health/Variable Annuity Agents and Brokers (PDF)
Insurance Company Fees, Retaliatory Taxes, etc.
Information abut filing and licensing fees, retaliatory taxes and fees, franchise taxes, surcharges, security funds, deposits required, and other New York state assessments, including DMV and DOT, can be found in our Insurance Licensing section: