The North Carolina collection agency 2016 renewal application process opens April 7 and closes midnight June 30.
Financial Statements
- Ensure that the balance sheet meets the statutory licensing requirement of a positive net worth/equity greater than $5,000.
- An officer attestation is required for internally prepared statements, as well as compilations prepared by a CPA/firm.
Demographic Updates (address/license contact/officers, owners) can be made using any of the three (3) choices:
- April 7th thru June 30th: Using the electronic renewal application
- July 1st thru April 1st: Click here.
- Anytime: Submission of paper address change request form
Surety Bonds
- Continuation certificates and/or riders can be provided in lieu of a new bond.
- The bond expiration date should not occur before June 30, 2017.
- The bond calculation worksheet determines the amount of Renewal Bond #1. The minimum amount of this bond is always $10,000 and the maximum amount is $75,000. Depending on the amount of line (E) on the worksheet, the bond can be any amount in between.
Notifications
- If you don’t receive an email confirmation, your renewal application has NOT been received. Remember to press SUBMIT when ready…Literally!!
- Confirm the email addresses of all company contacts – it is recommended that a single email address NOT be used for everyone.
- Renewal reminders will be sent every 30-days until the deadline date.
- Do not wait until the last minute to apply; extensions are typically NOT granted.
- Non-renewed licenses lapse at midnight June 30, 2016.
For more information visit us on the web: NC DOI Home Page