Minnesota Department of Commerce - Licensing Unit


Please Note

We are a service company that can help you file with the Minnesota Department of Commerce - Licensing Unit. We are not associated with this nor any other government agency. We offer paid services and software to help you file. You are not required to purchase our service to file - you may file directly with this agency without using our service.


Contact Information

Phone: 651-539-1599

Web: Home Name search
Email: licensing.commerce@state.mn.us

Licenses

We track the following licenses with the Minnesota Department of Commerce - Licensing Unit in order to provide compliance services to our clients. As a client, you see this and other reference data in License Manager in-line with your licenses.

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Minnesota Collection Agency Branch License

Agency:Minnesota Department of Commerce - Licensing Unit
Bond Requirements:

$50,000 + an additional $5,000 for each $100,000 received by the agency from Minnesota debtors in the previous year. $100,000 is the maximum bond amount required.

Initial Registration

Filing Method:

Online

Agency Fee:

$500 registration fee + $9.95 application fee.

Registration Renewal

Filing Method:

Online

Agency Fee:

$400 + $9.95 application fee.

Due:

Annually by June 30.

Amendment

Filing Method:

Online

Agency Fee:

$0

Notes:

Licensees can change their address and manage employees through the PULSE portal.

Minnesota Collection Agency Exemption

Agency:Minnesota Department of Commerce - Licensing Unit
Notes:

Out-of-state agencies may be eligible for exemption if they limit Minnesota activities to collecting debts not incurred in Minnesota from Minnesota residents using phone, email, mail, or fax.

Initial Registration

Filing Method:

Online

Agency Fee:

$0

Renewal Not Required

Not required



Exemptions do not expire once granted as long as the exempt agency continues to operate under exemption criteria.

Minnesota Collection Agency License

Agency:Minnesota Department of Commerce - Licensing Unit
Foreign Qualification is Prerequisite:Yes
Bond Requirements:

$50,000 + an additional $5,000 for each $100,000 received by the agency from Minnesota debtors in the previous year. $100,000 is the maximum bond amount required.

Initial Registration

Filing Method:

Online

Agency Fee:

$1,000 registration fee + $9.95 application fee.

Registration Renewal

Filing Method:

Online

Agency Fee:

$400 + $9.95 application fee.

Due:

Annually by June 30.

Amendment

Filing Method:

Online

Agency Fee:

$0

Notes:

Licensees can change their address and manage employees through the PULSE portal.

Minnesota Debt Collector License

Agency:Minnesota Department of Commerce - Licensing Unit

Initial Registration

Filing Method:

Online

Agency Fee:

$10 license fee + $9.95 application fee.

Registration Renewal

Filing Method:

Online

Agency Fee:

$10 license fee + $9.95 application fee.

Due:

Annually by June 30.

Minnesota Real Estate Broker License

Agency:Minnesota Department of Commerce - Licensing Unit

Initial Registration

Filing Method:

Online

Agency Fee:

$180 license fee + $25 technology fee

Registration Renewal

Filing Method:

Online

Agency Fee:

$120 renewal fee + $25 technology fee

Due:

Biennially by June 30.

Minnesota Real Estate Company License

Agency:Minnesota Department of Commerce - Licensing Unit
Law:

Minnesota Statutes Chapter 82. Real Estate Brokers and Salespersons 

Eligible Entity Types:
  • Corporations
  • General Partnerships 
  • Limited Liability Companies 
  • Limited Liability Partnerships
Foreign Qualification is Prerequisite:Yes
Ownership Requirements:
  • A business entity applying for a license shall have at least one responsible person individually licensed to act as broker for the business entity. Each responsible person who intends to act as a broker shall obtain a license.
  • An application for a business entity license shall be verified by a responsible person for the business entity.
  • The application of all responsible persons of a business entity who intend to act as brokers on behalf of a business entity shall accompany the initial license application of the business entity. Responsible persons intending to act as brokers subsequent to the licensing of the business entity shall procure an individual real estate broker's license prior to acting in the capacity of a broker. No responsible person who maintains a salesperson's license may exercise any authority over any trust account administered by the broker nor may they be vested with any supervisory authority over the broker.
Financial Requirements:
  • All trust funds received by a broker or the broker's salespeople or closing agents shall be deposited, as provided in subdivision 5, in a trust account, maintained by the broker for such purpose in a bank, savings association, credit union, or an industrial loan and thrift company with deposit liabilities designated by the broker or closing agent, except as such money may be paid to one of the parties pursuant to express written agreement between the parties to a transaction.
  • The depository bank shall be a Minnesota bank or trust company or any foreign bank and shall authorize the commissioner to examine its records of such deposits upon demand by the commissioner. The industrial loan and thrift company shall be organized under chapter 53. The savings association or credit union shall be organized under the laws of any state or the United States.
Qualifying Individual Requirements:

All companies must have at least one elected officer who is individually licensed to act as the primary broker.

Requirement Notes:

Nonresident real estate companies must obtain a Certificate of Authority from the Minnesota Secretary of State and email it to licensing.commerce@state.mn.us after the license application is submitted.


If you meet the requirements to waive the trust account notice, a completed Trust Account Notice Waiver Certification form must be emailed to  licensing.commerce@state.mn.us

Initial Registration

Form:

Online

Agency Fee:

$180

Before you Apply:
  • A business entity applying for a license shall have at least one responsible person individually licensed to act as broker for the business entity. Each responsible person who intends to act as a broker shall obtain a license.
  • Nonresident real estate companies must obtain a Certificate of Authority from the Minnesota Secretary of State and email it to licensing.commerce@state.mn.us after the license application is submitted.
Required Attachments:

If you meet the requirements to waive the trust account notice, a completed Trust Account Notice Waiver Certification form must be emailed to  licensing.commerce@state.mn.us

Registration Renewal

Form:

Online

Agency Fee:

$120

Due:

Biennially by June 30.

Minnesota Real Estate Limited Broker License

Agency:Minnesota Department of Commerce - Licensing Unit

Initial Registration

Filing Method:

Online

Agency Fee:

$180

Registration Renewal

Filing Method:

Online

Agency Fee:

$120

Due:

Biennially by June 30.

Minnesota Real Estate Salesperson License

Agency:Minnesota Department of Commerce - Licensing Unit

Initial Registration

Agency Fee:

$100 license fee + $25 technology fee

Notes:

Contact a licensed primary broker to submit an application for licensure. Only a licensed primary broker can submit a license application for you.

Registration Renewal

Filing Method:

Online

Agency Fee:

$60 renewal fee + $25 technology fee

Due:

Biennially by June 30.

Minnesota Third Party Administrator License

Agency:Minnesota Department of Commerce - Licensing Unit
Law:

Minnesota Statutes 60A.23, Subd. 8, Minnesota Rules Chapter 2767

Foreign Qualification is Prerequisite:No
Notes:

The annual activity report should be filed on the Excel spreadsheet form. The spreadsheet should be emailed to: tuan.tran@state.mn.us 

Registered Agent (Special Agency) Required?No

Initial Registration

Form:

TPA Registration  Application

Gurantee Form  - Must be completed when applying for a TPA license when an applicant uses the financial statements of a parent or other related entity to meet the financial requirements. The guarantee must be accompanied by a resolution by the guarantor's board of directors authorizing the guarantee. 

 

Filing Method:

Mail or online

Agency Fee:

$1,500

Required Attachments:

Submit financial statements for the administrator for the last three fiscal years. For the purpose of new applications, “Financial statements” means an income and expense statement along with a balance sheet.

Registration Renewal

Form:

TPA Registration Application (Renewal)

Filing Method:

Mail or online

Agency Fee:

$1500

Due:

Triennially by date of issuance. 

Annual Activity Report is due March 1 annually. 

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