Banks and Trusts

Application Fees

Application Fees
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Depository Institutions

InstitutionBanking LawFee
Banks & Trust Companies (including Limited Purpose Trust Companies)
Charter Application23$12,500
Branch (not in a Banking Development District) or Public Accommodation Office29 / 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 Control143-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
Merger601.1$12,500
Purchase of Assets601-a$12,500
Sale or Conveyance of More Than 50% of Assets605.8$12,500
Investments Pursuant to 97(5)97(5)$0
Fiduciary Powers4001.9$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 Application23$12,500
Branch (not in a Banking Development District) or Public Accommodation Office29 / 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
Merger601$12,500
Purchase of Assets601-a$12,500
Sale, Lease, Exchange or Other Disposition of Property601-c(1)(b)$0
Sale or Conveyance of More Than 50% of Assets605.8$12,500
Conversion (from Mutual to Stock Form)14-e.2$12,500
Fiduciary Powers234-b$0
   
Savings Banks - Stock Form
Charter Application23 / 14-e.2$12,500
Branch (not in a Banking Development District) or Public Accommodation Office29 / 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 Control143-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
Merger601$12,500
Purchase of Assets601-a$12,500
Sale or Conveyance of More Than 50% of Assets605.8$12,500
Acquisition of Banking Institution (no change of control)143-a$12,500
Fiduciary Powers234-b$0
   
Savings & Loans - Mutual
Charter Application23$12,500
Branch (not in a Banking Development District) or Public Accommodation Office29 / 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
Merger601$12,500
Purchase of Assets601-a$12,500
Sale, Lease, Exchange or Other Disposition of Property601-c(1)(c)$0
Sale or Conveyance of More Than 50% of Assets605.8$12,500
Conversion (from Mutual to Stock Form)14-e.2$12,500
Conversion (to Savings Bank)23 / 411$12,500
Fiduciary Powers380-h$0
   
Savings & Loans - Stock Form
Charter Application23 / 14-e.2$12,500
Branch (not in a Banking Development District) or Public Accommodation Office29 / 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 Control143-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
Merger601$12,500
Purchase of Assets601-a$12,500
Sale or Conveyance of More Than 50% of Assets605.8$12,500
Acquisition of Banking Institution (no change of control)143-a$12,500
Conversion (to Savings Bank)23 / 411$12,500
Fiduciary Powers380-h$0
   
Credit Unions
Charter Application23$12,500
New Station461$750
Change of Location (Temporary and Permanent)28-a / 461$750
Change of Location (Temporary due to emergency)28-a$0
Designation of Student Branches450-b$0
Conversion (From Federal to State)486$12,500
Conversion (to Mutual Savings Bank)487-a$12,500
Merger601.1$12,500
Sale or Conveyance of More Than 50% of Assets605.8$12,500
Fiduciary Powers455$0
   
Foreign Banks - Branches & Agencies
License Application26$7,500
Public Accommodation Office191$750
Change of Location (Temporary and Permanent)28-a / 203.1$750
Change of Location (Temporary due to emergency)28-a$0
Fiduciary Powers201-b$0
   
Foreign Banks - Representative Offices
Foreign Banks - Representative Offices  
License Application26$7,500
Change of Location (Temporary)28-a$0
Change of Location (Temporary due to emergency)28-a$0
   
Private Bankers
Initial Verified Certificate23$12,500
Verified Certificate (Continuation of Business)24$750
Branch29$750
Change of Location (Temporary and Permanent)28-a / 164$750
Change of Location (Temporary due to emergency)28-a$0
   
Investment Companies
Charter Application23$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 Control519$12,500
Merger601$12,500
Purchase of Assets601-a$12,500
Sale or Conveyance of More Than 50% of Assets605.8$12,500
   
Safe Deposit Companies
Charter Application23$12,500
Branch29$750
Change of Location (Temporary and Permanent)28-a / 321$750
Change of Location (Temporary due to emergency)28-a$0
Change of Control324$12,500
Merger601$12,500
Purchase of Assets601-a$12,500
Sale or Conveyance of More Than 50% of Assets605.8$12,500
   
Holding Companies
Initial or Expansion Application142$12,500
Acquisition of Banking Institution (no change of control)143-a$12,500
   
Mutual Holding Companies
Initial Application290$0
Conversion (from Mutual to Stock Form)294 / 14-e.2$12,500
Sale of up to 49% of Subsidiary Bank Stock290.1 / 14-e.2$12,500
 
Virtual Currency Businesses
Application Fee - BitLicense $5,000.00

 

Non-Depository Institutions

InstitutionBanking LawFee
Check Cashers
Original License367.3$3,000
Additional Regular Location367.3$2,000
Mobile Location367.3$2,000
Limited Station370.2$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 Control370-a.1$3,000
   
Money Transmitters
Original License641.3$3,000
Change of Control652-a.1$3,000
   
Licensed Lenders
Master License341.2$3,000
Additional Location (Temporary and Permanent)341.6$500
Change of Location343.3.a$500
Change of Control345.1$3,000
Acquisition, Merger, Consolidation, Purchase of Assets344.1$3,000
   
Sales Finance Companies
Original License (1 location / 3 or more locations)492.4.b and c$3000 / $4000
Additional Place of Business492.4.c$500
Change of Control492-a.1$3,000
   
Premium Finance Companies
Original License (1 location / 3 or more locations)555.4$3000 / $4000
Additional Office555.3$500
Change of Control555-a.1$3,000
   
Budget Planners
Original License580.3$3,000
Additional Branch / Office License580.2$0
Change of Control583-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.

EntityInsurance LawFee
Pharmacy Benefit Managers2906$24,000 for 3 years (36 months) from the date issued

 

Mortgage Industry

InstitutionBanking LawFee
Mortgage Bankers  
Original License591.2$3,000
Branch License591.3$500
Change of Control594-b.1$3,000
   
Mortgage Brokers
Original Registration591-a$1,500
Branch591-a.2$500
Change of Control594-b$1,500
   
Mortgage Loan Originator
Original License599-d$250
   
Mortgage Loan Servicer
Original Registration590.2(b-1)$3,000
Branch590.2(b-1) & (c)$500
Change of Control594.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).

StateIndividual/ Partnership/ Corp/ LLC Retaliatory FeeIndividual LicensePartnership/ 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
OntarioIndividuals & 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 FeesEntity 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 IssueDo 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 IssueDo Not Issue
Newfoundland $200$400 plus $200 per sub-licensee
Northwest Territories Do Not IssueDo Not Issue
Nova Scotia $80$150 plus $80 per sub-licensee
Ontario$ 75$150Do Not Issue
Prince Edward Island Do Not IssueDo 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 IssueDo 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: