Florida Regulations 69U-140.020: Semiannual Assessment
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(1) Each state licensed international banking agency shall pay to OFR a semiannual assessment fee for the six-month period beginning thirty days before each payment date. Each assessment shall be postmarked on or before January 31 and July 31 of each year. The amount of the semiannual assessment to be paid by each agency is computed as follows:
If the agencies’ total assets are:
Over
Million
But Not
Over Million
This Amount
(Base Assessment)
Plus
(Assessment Rate)
Of Excess
Over Million
$0.00
$35.00
$0.00
0.000065
0
35.00
100.00
2,275.00
0.000052
35
100.00
500.00
5,655.00
0.000040
100
500.00
1,000.00
21,495.00
0.000028
500
1,000.00
2,500.00
35,335.00
0.000016
1,000
2,500.00
5,000.00
59,655.00
0.000004
2,500
5,000.00
7,500.00
69,655.00
0.000002
5,000
7,500.00
10,000.00
74,655.00
0.0000008
7,500
10,000.00
. . . .
76,655.00
0.0000004
10,000
(2) Each semiannual assessment is based on the total assets (including amounts due the agency from other offices or branches of the international banking corporation of which the agency is a part of or from entities related to that international banking corporation) as shown in the agency’s “”Report of Assets and Liabilities of U.S. Agencies of Foreign Banks”” most recently preceding the payment date. Each agency subject to the jurisdiction of OFR on January 1 or June 30 of each year is subject to the full assessment for the next six-month period without proration for any reason.
(3) Regardless of the rates above, the semiannual assessment must equal at least $1,000.
(4) The agency officer who is responsible for the calculation of the semiannual assessment must sign, date, and indicate his/her title when submitting to OFR.
(5) OFR shall levy a late payment penalty of $100.00 per day for each day that a semiannual assessment is past due, unless the late payment penalty is excused per Florida Statutes § 655.047 (2013). For intentional late filing of a semiannual assessment, OFR shall levy a late payment penalty of $1,000.00 per day for each day that a semiannual assessment is past due.
Rulemaking Authority 655.012(2), 633.12, 663.13 FS. Law Implemented Florida Statutes § 663.12. History-New 8-21-83, Amended 11-15-85, Formerly 3C-15.13, Amended 10-1-87, 5-17-90, Formerly 3C-15.013, 3C-140.020, Amended 1-2-14.
If the agencies’ total assets are:
Over
Million
But Not
Over Million
This Amount
(Base Assessment)
Plus
(Assessment Rate)
Of Excess
Over Million
$0.00
$35.00
$0.00
0.000065
0
35.00
100.00
2,275.00
0.000052
35
100.00
500.00
5,655.00
0.000040
100
500.00
1,000.00
21,495.00
0.000028
500
1,000.00
2,500.00
35,335.00
0.000016
1,000
2,500.00
5,000.00
59,655.00
0.000004
2,500
5,000.00
7,500.00
69,655.00
0.000002
5,000
7,500.00
10,000.00
74,655.00
0.0000008
7,500
10,000.00
. . . .
76,655.00
0.0000004
10,000
Terms Used In Florida Regulations 69U-140.020
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
(3) Regardless of the rates above, the semiannual assessment must equal at least $1,000.
(4) The agency officer who is responsible for the calculation of the semiannual assessment must sign, date, and indicate his/her title when submitting to OFR.
(5) OFR shall levy a late payment penalty of $100.00 per day for each day that a semiannual assessment is past due, unless the late payment penalty is excused per Florida Statutes § 655.047 (2013). For intentional late filing of a semiannual assessment, OFR shall levy a late payment penalty of $1,000.00 per day for each day that a semiannual assessment is past due.
Rulemaking Authority 655.012(2), 633.12, 663.13 FS. Law Implemented Florida Statutes § 663.12. History-New 8-21-83, Amended 11-15-85, Formerly 3C-15.13, Amended 10-1-87, 5-17-90, Formerly 3C-15.013, 3C-140.020, Amended 1-2-14.