Florida Expands MSB Quarterly Report Effective Q2 2026
Florida Expands MSB Quarterly Report Effective Q2 2026
Florida Expands MSB Quarterly Report Effective Q2 2026
The Florida Office of Financial Regulation has revised Form OFR-560-04, the Money Services Business Quarterly Report, effective July 1, 2026, applicable to all Money Services Business licensees operating under Rule 69V-560.1012, F.A.C. Licensees must use the updated format for all quarterly reports filed on or after the effective date.
The revisions expand the report to capture virtual currency transmission activity and physical commodity assets, including gold and silver coins, reflecting the growing role of these asset classes in money services business operations.
Key Updates:
- Section II expanded: A new subsection (Section II(B)) requires foreign currency exchangers to separately report gold and silver coin exchange transactions, including transaction count, total face amount (in U.S. dollars), and service fees assessed.
- Section VI added: Money transmitters engaged in virtual currency activity must now report virtual currency transmissions quarterly, capturing transaction count, total U.S. dollar equivalent value, and fees assessed. The prior form included no virtual currency reporting requirement.
- Sections VII and VIII added: New reporting sections cover gold and silver coin transmissions (by coin type, with separate rows for gold and silver) and gold and silver coin held in custody, reported as the U.S. dollar equivalent value on the last day of each month.
Form Note: Licensees should discard prior versions of Form OFR-560-04 (previously effective 02/2023) and use only the July 1, 2026 version going forward. Per Florida OFR, the updated form applies beginning with the Q2 2026 report, covering activity through June 30, 2026, due August 14, 2026.
FS Vector monitors ongoing state guidance for money services business licensing and reporting to help ensure compliance with the latest requirements. Contact FS Vector for assistance navigating Florida’s updated quarterly reporting obligations for virtual currency transmissions and expanded coin-related disclosures.