Members who are licensed in the State of California as Debt Collectors should have received their first annual assessment fee from the California Department of Consumer Protection and Innovation (DFPI) on or before September 30, 2025. This annual assessment fee is required pursuant to section 100020 of the California Financial Code.
In the September 30th transmittal, DFPI indicates that the annual assessment fee is due on October 31, 2025. However, it should be noted that payment can be made up until December 31, 2025, without fines or penalties [see, §100020(b) of the Financial Code]. RMAI would advise NOT waiting until the last day of December to file your annual assessment fee in case you run into any problems transmitting payment.
DFPI is required to “assess and collect a penalty, in addition to the fee, of 1 percent of the assessment for each month or part of a month that the payment is delayed or withheld” [see, §100020(b) of the Financial Code]. Additionally, the DFPI Commissioner “may by order summarily suspend or revoke the license issued to the licensee” if payment is not received by January 1, 2026 [see, §100020(d) of the Financial Code].
RMAI is aware that the amounts in some of the assessments that were transmitted on September 30th took some members by surprise given how much higher they were than other states. RMAI is providing this additional statutory information should members decide to delay payment due to budgetary constraints. As always, RMAI encourages its members to consult with their attorneys.
If you have any questions, please contact DFPI at [email protected].
This Member Alert is intended for members of the Receivables Management Association International, is for informational purposes only, and is in no way intended to provide legal advice. Members are encouraged to consult with an attorney of their choice for legal advice concerning this matter.