50-State Financial Services Licensing Compliance Guide
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South Dakota Finance Licensing

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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 South Dakota.

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Company Licenses

South Dakota Financial Services Company Licenses

South Dakota Collection Agency License

Not required



Debt Collection Agency licensure is not required on the State level in South Dakota.

South Dakota does not currently issue licenses for collection agencies.

South Dakota Exempt Mortgage Company Registration

Agency:South Dakota Department of Labor and Regulation - Division of Banking
Foreign Qualification is Prerequisite:Yes
Registered Agent (Special Agency) Required?Yes

Initial Registration

Instructions:

Requirements Checklist

Filing Method:

Online

Agency Fee:

$100 NMLS processing fee

Registration Renewal

Filing Method:

Online

Agency Fee:

$0

Due:

  • Licenses expire on December 31 of each year. Licensees are recommeded to renew by November 1.
  • Licenses issued in November or December remain valid through the next renewal period.

South Dakota Money Lender Branch License

Agency:South Dakota Department of Labor and Regulation - Division of Banking
Foreign Qualification is Prerequisite:No
Registered Agent (Special Agency) Required?No

Initial Registration

Instructions:

Requirements Checklist

Filing Method:

Online

Agency Fee:

$1,000

Registration Renewal

Filing Method:

Online

Agency Fee:

$800

Due:

  • Licenses expire on December 31 of each year. Licensees are recommeded to renew by November 1.
  • Licenses issued in November or December remain valid through the next renewal period.

South Dakota Money Lender License

Agency:South Dakota Department of Labor and Regulation - Division of Banking
Foreign Qualification is Prerequisite:Yes
Registered Agent (Special Agency) Required?Yes

Initial Registration

Instructions:

Requirements Checklist

Filing Method:

Online

Agency Fee:

$100 + $1000 license/registration fee + $15 credit report fee

Registration Renewal

Filing Method:

Online

Agency Fee:

$800

Due:

  • Licenses expire on December 31 of each year. Licensees are recommeded to renew by November 1.
  • Licenses issued in November or December remain valid through the next renewal period.

South Dakota Money Transmitter License

Agency:South Dakota Department of Labor and Regulation - Division of Banking
Foreign Qualification is Prerequisite:Yes
Registered Agent (Special Agency) Required?Yes

Initial Registration

Instructions:

Requirements Checklist

Filing Method:

Online

Agency Fee:

$100 + $500 application fee + $1000 license/registration fee + $15 credit report fee + $36.25 background check fee + $0.25 fee per agent per year

Registration Renewal

Filing Method:

Online

Agency Fee:

$800

Due:

  • Licenses expire on December 31 of each year. Licensees are recommeded to renew by November 1.
  • Licenses issued in November or December remain valid through the next renewal period.

South Dakota Mortgage Branch Registration

Agency:South Dakota Department of Labor and Regulation - Division of Banking
Foreign Qualification is Prerequisite:No
Registered Agent (Special Agency) Required?No

Initial Registration

Instructions:

Requirements Checklist

Filing Method:

Online

Agency Fee:

$20

Registration Renewal

Filing Method:

Online

Agency Fee:

$0

Due:

  • Licenses expire on December 31 of each year. Licensees are recommeded to renew by November 1.
  • Licenses issued in November or December remain valid through the next renewal period.

South Dakota Mortgage Brokerage License

Agency:South Dakota Department of Labor and Regulation - Division of Banking
Foreign Qualification is Prerequisite:Yes
Registered Agent (Special Agency) Required?Yes

Initial Registration

Instructions:

Requirements Checklist

Filing Method:

Online

Agency Fee:

$500 license/registration fee + $15 credit report fee + $36.25 background check fee

Registration Renewal

Filing Method:

Online

Agency Fee:

$350

Due:

  • Licenses expire on December 31 of each year. Licensees are recommeded to renew by November 1.
  • Licenses issued in November or December remain valid through the next renewal period.

South Dakota Mortgage Lender License

Agency:South Dakota Department of Labor and Regulation - Division of Banking
Foreign Qualification is Prerequisite:Yes
Registered Agent (Special Agency) Required?Yes

Initial Registration

Instructions:

Requirements Checklist

Filing Method:

Online

Agency Fee:

$750 license/registration fee + $15 credit report fee + $36.25 background check fee

Registration Renewal

Filing Method:

Online

Agency Fee:

$500

Due:

  • Licenses expire on December 31 of each year. Licensees are recommeded to renew by November 1.
  • Licenses issued in November or December remain valid through the next renewal period.

South Dakota Non-Residential Mortgage Lender License

Agency:South Dakota Department of Labor and Regulation - Division of Banking
Foreign Qualification is Prerequisite:Yes
Registered Agent (Special Agency) Required?Yes

Initial Registration

Instructions:

Requirements Checklist

Filing Method:

Online

Agency Fee:

$100 + $750 license/registration fee

Registration Renewal

Filing Method:

Online

Agency Fee:

$500

Due:

  • Licenses expire on December 31 of each year. Licensees are recommeded to renew by November 1.
  • Licenses issued in November or December remain valid through the next renewal period.

Individual Licenses

South Dakota Individual Financial Services Licenses

South Dakota Mortgage Loan Originator License

Agency:South Dakota Department of Labor and Regulation - Division of Banking

Initial Registration

Instructions:

Requirements Checklist

Filing Method:

Online

Agency Fee:

$30 + $150 application fee + $15 credit report fee + $36.25 background check fee

Registration Renewal

Filing Method:

Online

Agency Fee:

$75

Due:

  • Licenses expire on December 31 of each year. Licensees are recommeded to renew by November 1.
  • Licenses issued in November or December remain valid through the next renewal period.

Explore licensing in other states:

Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware District of Columbia Florida Georgia Hawaii Idaho
Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri
Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania
Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming
Revised April 19, 2024. Complete data last reviewed January 08, 2019.
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