The Bureau of Financial Institutions licenses ONLY those payroll processors that are banks or credit unions or their subsidiaries or affiliates.
If your company is not a bank or a credit union or a subsidiary or affiliate of a bank or a credit union, then a payroll processor license must be obtained from the fb88 Bureau of Consumer Credit Protection. Follow this link for more information about obtaining a license from the fb88 Bureau of Consumer Credit Protection: /pfr/consumercredit/industry/licensing/payroll_processor/index.htm
Payroll Processing Forms
- Payroll Processor Application and Renewal - Form BFI-5 (Microsoft Word document)
- Payroll Processing Surety Bond Form - Form BFI-5 (Microsoft Word document)
- Payroll Processing Roster (Microsoft Word document)