50-State Financial Services Licensing Compliance Guide
Illinois Finance Licensing
Licenses are typically required for individuals and businesses that provide finance industry services in the United States. This guide contains information about professional finance licensing in Illinois.
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Company Licenses
Illinois Financial Services Company Licenses
Illinois Collection Agency Branch Office License
| Agency: | Illinois Department of Financial and Professional Regulation - Division of Financial Institutions - Consumer Credit Section |
Initial Registration
| Form: | |
| Agency Fee: | $250 |
Registration Renewal
| Filing Method: | |
| Agency Fee: | $150 |
| Due: | Triennially by May 31. Upcoming renewal years are 2021, 2024, 2027, etc. |
| Original Ink: | Not Required |
| Notarization Required?: | Not Required |
Amendment
| Agency Fee: | $0 |
| Notes: | Changes to company address, email addresses, and telephone numbers can be reported online. |
Illinois Collection Agency License
Initial Registration
| Form: | |
| Agency Fee: | $750 |
Registration Renewal
| Filing Method: | |
| Agency Fee: | $750 |
| Due: | Triennially by May 31. Upcoming renewal years are 2021, 2024, 2027, etc. |
| Original Ink: | Not Required |
| Notarization Required?: | Not Required |
Amendment
| Agency Fee: | $0 |
| Notes: | Changes to company address, email addresses, and telephone numbers can be reported online. |
Illinois Consumer Installment Loan Branch License
Initial Registration
| Instructions: | |
| Filing Method: | |
| Agency Fee: | $300 application fee + license/registration fee (1/1-6/30 = $450; 7/1-12/31 = $225) + $15 credit report fee |
Registration Renewal
| Filing Method: | |
| Agency Fee: | $450 |
| Due: |
|
Illinois Consumer Installment Loan License
Initial Registration
| Instructions: | |
| Filing Method: | |
| Agency Fee: | $300 application fee + license/registration fee (1/1-6/30 = $450; 7/1-12/31 = $225) + $15 credit report fee |
Registration Renewal
| Filing Method: | |
| Agency Fee: | $450 |
| Due: |
|
Illinois Consumer Installment Loan Registration
Initial Registration
| Instructions: | |
| Filing Method: | |
| Agency Fee: | $0 |
Registration Renewal
| Filing Method: | |
| Agency Fee: | $0 |
| Due: |
|
Illinois Consumer Legal Funding Company
Initial Registration
| Instructions: | |
| Filing Method: | |
| Agency Fee: | $1000 application fee + $800 investigation fee |
Registration Renewal
| Filing Method: | |
| Agency Fee: | $1,000 |
| Due: |
|
Illinois Debt Management Branch License
Initial Registration
| Instructions: | |
| Filing Method: | |
| Agency Fee: | $130 license/registration fee |
Registration Renewal
| Filing Method: | |
| Agency Fee: | $100 |
| Due: |
|
Illinois Debt Management License
Initial Registration
| Instructions: | |
| Filing Method: | |
| Agency Fee: | $130 license/registration fee |
Registration Renewal
| Filing Method: | |
| Agency Fee: | $100 |
| Due: |
|
Illinois Debt Settlement Consumer Protection Branch License
Initial Registration
| Instructions: | |
| Filing Method: | |
| Agency Fee: | $350 application fee + $1000 license/registration fee |
Registration Renewal
| Filing Method: | |
| Agency Fee: | $1,000 |
| Due: |
|
Illinois Debt Settlement Consumer Protection License
Initial Registration
| Instructions: | |
| Filing Method: | |
| Agency Fee: | $1000 license/registration fee + $350 application fee |
Registration Renewal
| Filing Method: | |
| Agency Fee: | $1,000 |
| Due: |
|
Illinois Exempt Entity Loan Processor Registration
| Agency: | Illinois Department of Financial and Professional Regulation - Bureau of Residential Finance |
| Foreign Qualification is Prerequisite: | Yes |
| Registered Agent (Special Agency) Required? | Yes |
Initial Registration
| Instructions: | |
| Filing Method: | |
| Agency Fee: | $100 application fee + $100 registration fee |
Registration Renewal
| Filing Method: | |
| Agency Fee: | $0 |
| Due: |
|
Illinois Exempt Residential Mortgage Company Registration
| Agency: | Illinois Department of Financial and Professional Regulation - Bureau of Residential Finance |
| Foreign Qualification is Prerequisite: | Yes |
| Registered Agent (Special Agency) Required? | Yes |
Initial Registration
| Instructions: | |
| Filing Method: | |
| Agency Fee: | $100 NMLS processing fee |
Registration Renewal
| Filing Method: | |
| Agency Fee: | $0 |
| Due: |
|
Illinois Money Transmitter License
Initial Registration
| Instructions: | |
| Filing Method: | |
| Agency Fee: | $2500 application fee + $400 investigation fee |
Registration Renewal
| Filing Method: | |
| Agency Fee: | $1,000 |
| Due: |
|
Illinois Pawnbroker Branch License
| Agency: | Illinois Department of Financial and Professional Regulation - Division of Banking |
| Foreign Qualification is Prerequisite: | No |
| Registered Agent (Special Agency) Required? | No |
Initial Registration
| Instructions: | |
| Filing Method: | |
| Agency Fee: | $2000 application fee |
Registration Renewal
| Filing Method: | |
| Agency Fee: | $980 |
| Due: | Annually by December 31. |
Illinois Pawnbroker Company License
| Agency: | Illinois Department of Financial and Professional Regulation - Division of Banking |
| Foreign Qualification is Prerequisite: | Yes |
| Registered Agent (Special Agency) Required? | Yes |
Initial Registration
| Instructions: | |
| Filing Method: | |
| Agency Fee: | $2000 application fee + $36.25 background check fee |
Registration Renewal
| Filing Method: | |
| Agency Fee: | $900 |
| Due: | Annually by December 31. |
Illinois Pawnbroker Company Registration
| Agency: | Illinois Department of Financial and Professional Regulation - Division of Banking |
| Foreign Qualification is Prerequisite: | Yes |
| Registered Agent (Special Agency) Required? | Yes |
Initial Registration
| Instructions: | |
| Filing Method: | |
| Agency Fee: | $36.25 background check fee |
Registration Renewal
| Filing Method: | |
| Agency Fee: | $0 |
| Due: | Annually by December 31. |
Illinois Payday Reform Branch License
Initial Registration
| Instructions: | |
| Filing Method: | |
| Agency Fee: | $1000 application fee |
Registration Renewal
| Filing Method: | |
| Agency Fee: | $1,000 |
| Due: |
|
Illinois Payday Reform License
Initial Registration
| Instructions: | |
| Filing Method: | |
| Agency Fee: | $1000 application fee + $15 credit report fee |
Registration Renewal
| Filing Method: | |
| Agency Fee: | $1,000 |
| Due: |
|
Illinois Payday Reform Registration
Initial Registration
| Instructions: | |
| Filing Method: | |
| Agency Fee: | $0 |
Registration Renewal
| Filing Method: | |
| Agency Fee: | $0 |
| Due: |
|
Illinois Residential Mortgage License
| Agency: | Illinois Department of Financial and Professional Regulation - Bureau of Residential Finance |
| Foreign Qualification is Prerequisite: | No |
| Registered Agent (Special Agency) Required? | No |
Initial Registration
| Instructions: | |
| Filing Method: | |
| Agency Fee: | $2800 + $15 credit report fee + $36.25 background check fee |
Registration Renewal
| Filing Method: | |
| Agency Fee: | $2,700 |
| Due: |
|
Illinois Residential Mortgage License Full Service Branch License
| Agency: | Illinois Department of Financial and Professional Regulation - Bureau of Residential Finance |
Initial Registration
| Instructions: | |
| Filing Method: | |
| Agency Fee: | $250 application fee + $20 NMLS processing fee + $15 credit report fee per branch manager |
Registration Renewal
| Filing Method: | |
| Agency Fee: | $250 |
| Due: |
|
Illinois Sales Finance Agency Branch License
Initial Registration
| Instructions: | |
| Filing Method: | |
| Agency Fee: | Application fee (1/1-6/30 = $100, 7/1-12/31 = $50) |
Registration Renewal
| Filing Method: | |
| Agency Fee: | $100 |
| Due: |
|
Illinois Sales Finance Agency License
Initial Registration
| Instructions: | |
| Filing Method: | |
| Agency Fee: | $15 credit report fee + license fee (1/1-6/30 = $300, 7/1-12/31 = $150) |
Registration Renewal
| Filing Method: | |
| Agency Fee: | $300 |
| Due: |
|
Illinois Sales Finance Agency Registration
Initial Registration
| Instructions: | |
| Filing Method: | |
| Agency Fee: | $0 |
Registration Renewal
| Filing Method: | |
| Agency Fee: | $0 |
| Due: |
|
Illinois Student Loan Servicer License
| Agency: | Illinois Department of Financial and Professional Regulation - Division of Banking |
| Foreign Qualification is Prerequisite: | Yes |
| Registered Agent (Special Agency) Required? | Yes |
Initial Registration
| Instructions: | |
| Filing Method: | |
| Agency Fee: | $1000 application fee + $800 investigation fee + $15 credit report fee + $36.25 background check fee |
Registration Renewal
| Filing Method: | |
| Agency Fee: | $1,000 |
| Due: | Licenses expire on December 31 of each year. Licensees are recommeded to renew by November 1. |
Individual Licenses
Illinois Individual Financial Services Licenses
Illinois Mortgage Loan Originator License
| Agency: | Illinois Department of Financial and Professional Regulation - Bureau of Residential Finance |
Initial Registration
| Instructions: | |
| Filing Method: | |
| Agency Fee: | $30 + $200 license/registration fee + $15 credit report fee + $36.25 background check fee |
Registration Renewal
| Filing Method: | |
| Agency Fee: | $150 |
| Due: |
|
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