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WAC 208-630-830

What are my annual reporting requirements?

On or before April 15th of each year, you must submit the following reports:
(1) Annual financial statements. The financial statements must include at least a balance sheet and a statement of income prepared in accordance with generally accepted accounting principles. If you have established a fiscal year different from the calendar year, the financial statements are due not later than one hundred five days after the close of the fiscal year.
(2) Annual assessment report (AAR). You must submit an AAR on your Washington activities, in a form prescribed by the director. The AAR must contain the following:
(a) The total dollar volume of checks cashed during the period, if applicable; and
(b) The total dollar volume of checks sold during the period, if applicable; and
(c) The total dollar volume of small loans made during the period, if applicable; and
(d) The annual assessment fee calculation. See WAC 208-630-400.
(3) Consolidated annual report (CAR). You must submit a CAR on your Washington activities, in a form prescribed by the director. The CAR must contain at least the following:
(a) For all licensees, the CAR must contain:
(i) The total number of employees and annual payroll during the period;
(ii) The total number and dollar volume of transactions during the period;
(iii) The total dollar amount of fees collected during the period;
(iv) The total number and dollar amount of undeposited checks taken or held in connection with check cashing and small loan endorsement business at the end of the period;
(v) The total number and dollar amount of returned (NSF) checks taken or held in connection with check cashing and small loan business at the end of the period, and the total dollar amount of fees collected for returned (NSF) checks during the period;
(vi) The total number and dollar amount of charge-offs (losses), net of any recoveries, for the period; and
(vii) The total dollar amount of net income before and after taxes earned under authority of this chapter.
(viii) Such other relevant information as the director may require, in a form prescribed by the director.
(b) For all licensees with a small loan endorsement, the CAR must contain:
(i) The total dollar volume of small loans made during the period, including payment plans made prior to December 31, 2009, and installment plans made after January 1, 2010;
(ii) The total number of loans made for the period;
(iii) The total number of borrowers for the period;
(iv) The number of borrowers whose accounts were referred to collection agencies;
(v) The number of loans rescinded during the period;
(vi) For reporting year 2010, the number of borrowers who entered into a payment plan during 2009;
(vii) The number of installment plans entered into for the period;
(viii) The number of borrowers who defaulted;
(ix) The number of loans made to borrowers to be paid through an ACH (automated clearing house) or other electronic transaction;
(x) The number of loans made to borrowers through other than a physical visit to the licensee's location (e.g., internet, telephone, etc.); and
(xi) The number of active military borrowers during the period.
(c) For all licensees with small loan endorsements and total loan volume of at least ten million dollars in principal for the reporting period, the CAR must contain the following:
(i) The number of loans per borrower for the period;
(ii) The number of loans per military borrower during the period; and
(iii) The number of loans with terms in each of the following categories for the period:
(A) One to seven days;
(B) Eight to fourteen days;
(C) Fifteen to twenty-one days;
(D) Twenty-two to thirty-one days; and
(E) Thirty-two or more days.
[Statutory Authority: RCW 43.320.040, 31.45.200, and 2009 c 510. WSR 09-24-089, § 208-630-830, filed 12/1/09, effective 1/1/10. Statutory Authority: RCW 43.320.040. WSR 08-16-092, § 208-630-830, filed 8/5/08, effective 9/5/08. Statutory Authority: RCW 31.04.165, 43.320.040, 31.45.030, 31.45.050, 31.45.200. WSR 05-22-009, § 208-630-830, filed 10/21/05, effective 11/21/05.]
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