HTML Preview Annual Budget Plan Report page number 1.
2016 BP Annual Report 12/1/2016
Budget Planner Annual Report
Calendar Year 2016
General Instructions
The Annual Report is due at the Department of Financial Services (DFS) by the statutory deadline
of February 1, 2017.
All questions apply to the licensed legal entity as a whole, unless otherwise specified.
Answer all questions. Type or print your answers legibly. Do not change the questions. State
“None” or “Not Applicable” where appropriate.
Attach an addendum to the report in response to any of the questions if additional space is
necessary to provide all requested information.
Subsequent to the initial submission of the Annual Report, if it is determined that information
contained therein is substantially inaccurate, untrue, incorrect or incomplete, whether as a result
of an audit, new information or otherwise, a revision must be submitted to DFS within two weeks
of discovery along with a cover letter on company letterhead signed by an authorized executive
officer of the Licensee.
Reminder
DFS must be notified within specified timeframes according to the type of changes contemplated. For
example:
Change of licensed locations – at least 30 days prior to change [New York Banking Law (NYBL)
Section 582 and Superintendent’s Regulations (SR) Part 402.18]
Change in members of the governing board, executive officers and individuals who supervise the
daily operations of the Licensee – within 10 days of change [NYBL Section 583 and SR Part 402.8(a)
and (b)]
Modification to the fee structure (whether it is an increase or decrease) for clients in New York
State - at least 30 calendar days prior to implementation [SR Part 402.14]
Change in control (i.e. control parties) – prior approval of the Superintendent is required [NYBL
Section 583-a]
Reports of any arrest, indictment or conviction and certain crimes committed against the Licensee
– immediately upon discovery [SR Parts 402.19, 402.20, and 300]
Additionally, licensees are permitted to conduct regulated activities only at licensed locations. Pursuant
to NYBL Section 580.2, regardless of geographic location, each branch, office or call center that provides
budgeting, counseling and other budget planning-related services to New York residents must be
licensed.