FINTRAC MSB Registration Revoked or Expired: Causes, Consequences and How to Re-register

A FINTRAC money services business (MSB) registration ends in one of two ways: it expires because it was not renewed within two years, or FINTRAC revokes it. Either way the business must stop offering MSB services in Canada until it is registered again. FINTRAC's published registry data, last updated 16 October 2026, shows 165 registrations revoked with a revocation date in 2026, the latest on 16 September 2026, against 23 in 2025. About 76% of those revoked in 2026 offered virtual currency services.

Since 26 March 2026, operating without registration is also more expensive. Failing to register is classed as a serious violation, with a maximum penalty of C$4 million per violation, and it can lead to criminal charges.

This guide explains why registrations are revoked or expire, what follows for the business and its bank, and how to re-register with a compliance programme that will hold up. For the full registration process, see our guide to Canada MSB registration with FINTRAC.

Revoked, expired, ceased: what each status means

FINTRAC's Money Services Business Registry shows a status for every business that has registered. Each status has a different cause and a different way back.

The registry data at 16 October 2026 listed 4,191 businesses as registered, 2,584 as expired, 1,629 as ceased and 407 as revoked.

Why FINTRAC revokes MSB registrations

FINTRAC's list of revoked registrations states that it can deny or revoke a registration where the business:

• is not eligible for registration
• does not answer a clarification request within 30 days
• does not respond in time to demands for information from FINTRAC
• does not notify FINTRAC of updates to its name or address
• fails to give FINTRAC assistance

A clarification request is a FINTRAC email asking the business to confirm or explain registration information. It goes to the contact person or representative for service on file. If that person has left, or the mailbox is not monitored, the 30 days can pass unnoticed.

Foreign MSBs carry an extra risk. A foreign MSB has no place of business in Canada but serves Canadian customers, and it must name a representative for service who lives in Canada. If the representative's name or address changes and FINTRAC is not told within 30 days, FINTRAC states that the registration will be revoked.

Ineligibility is the other main ground. A business cannot register if it, its chief executive, president, any director or anyone owning or controlling 20% or more has certain convictions, including money laundering, terrorist financing and some fraud and drug offences, or is a listed terrorist or a sanctioned person under specified Canadian laws. A change of director or owner can therefore make a registered business ineligible. See FINTRAC's list of who is not eligible to register.

Why MSB registrations expire

Registration lasts two years. FINTRAC states that it is the business's responsibility to renew before the expiry date and that the majority of complete applications are processed within three months. A renewal filed a few weeks before expiry may not be decided in time.

The registry recorded 262 registrations with an expiry date in 2026 that now show as expired. Common reasons are an expiry date not diarised after a change of compliance officer, a renewal form that was incomplete and closed, and a business that assumed renewal was automatic.

What revocation or expiry means for the business

Once registration ends, the business is unregistered. Offering MSB services in that state breaches section 11.1 of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act. For violations after 26 March 2026, the penalty ranges are:

These figures come from the amended administrative monetary penalties regulations. Bill C-12, the Strengthening Canada's Immigration System and Borders Act, also made compliance agreements mandatory where a penalty is imposed and gave FINTRAC a new power to issue compliance orders. Criminal charges remain possible, although FINTRAC cannot pursue both a penalty and a criminal charge for the same non-compliance.

The commercial effect is often faster than the legal one. Canadian financial entities must confirm that a foreign MSB is registered with FINTRAC before opening an account for it or providing correspondent banking. The registry is public, so banks, payment partners and enterprise customers can see a revoked or expired status at once. Accounts can be frozen or closed while the business is unregistered.

Can a revocation be challenged?

Yes, within limits. FINTRAC gives written reasons for a denial or revocation, and the business can ask for a review of its file within 30 days. A review is worth pursuing where FINTRAC's records are wrong, for example where a clarification answer was sent but not received. Where the underlying failure is real, the faster route is usually a clean new application.

During a review the business remains unregistered. It should stop offering MSB services in Canada until it is registered again.

How to re-register after revocation or expiry

Re-registration is a new application. FINTRAC accepts only complete applications and closes incomplete ones. The steps are:

• Fix the cause. Answer the outstanding information request, correct the registered details, or remove the person who made the business ineligible.
• Submit FINTRAC's pre-registration form. A FINTRAC officer then sends the registration form.
• Build a complete document pack: criminal record checks for the chief executive, president, directors and 20% owners, issued no more than six months before the application; certified English or French translations; incorporation and ownership documents; full details of locations, agents and bank accounts; and, for a foreign MSB, the representative for service.
• Upload everything through FINTRAC's secure link, which expires after 15 days.
• Answer any clarification request within 30 days.

Allow for FINTRAC's statement that most complete applications take up to three months. Plan banking conversations around that period rather than assuming a quick reinstatement.

Rebuilding the compliance programme

A revocation is a signal that the compliance programme did not work in practice. Since 26 March 2026 the Act requires the programme to be reasonably designed, risk-based and effective, so re-registering with the same documents is a risk at the first examination.

Our compliance support work focuses on these controls, so that the new registration is defensible at examination.

Keeping a registration in good standing

Most revocation grounds are administrative, which means they can be prevented with simple controls. FINTRAC writes to the contact person or representative for service on file and expects a reply within 30 days. It expects changes to be reported within 30 days. It expects renewal before expiry. None of these requires a large team, but each needs an owner.

Two further points are often missed. A business that stops offering MSB services must cancel its registration within 30 days, rather than letting it lapse. And copies of documents submitted with a registration application must be kept for at least five years.

Banks and payment partners usually ask for evidence of these controls during onboarding and periodic reviews. Keeping the log and the change history in one place makes those reviews shorter and shows the registration is being actively managed.

Related Canadian obligations

FINTRAC registration is one of several Canadian requirements. A business that holds customer funds or moves payments for end users may also need Bank of Canada RPAA registration, with its own annual report due by 31 March 2027; see our RPAA annual report 2027 guide. Quebec runs its own MSB licensing. Virtual currency businesses should also note that stablecoin issuers will register with FINTRAC under the Stablecoin Act. Our page on money services businesses in Canada brings these together.