(a) The term of an initial registration begins on the date the requirements under § 1104.303 are met and extends through December 31 of the year in which the application is made. After the term of the initial registration, the term of registration begins on January 1 and extends through December 31 of each year.
(b) An application to renew a registration must be completed during December of the year preceding the year for which the renewal is requested.