
CFL Annual Reports Due March 15, 2025
Upcoming Compliance Deadline
This is a reminder to all California Financing Law (CFL) licensees that 2024 annual reports are due to the Department of Financial Protection and Innovation (DFPI) by March 15, 2025. The annual report reporting window is now open. Failure to submit this mandatory report may result in fines, license suspension, or revocation.
With regulatory scrutiny increasing, we strongly advise clients to prepare their reports now to ensure full compliance and prevent potential enforcement actions.
Who Must File?
Every CFL licensee operating as of December 31, 2024, is required to file an annual report with the DFPI, regardless of whether they conducted lending or brokering activities during the reporting period.
For clients holding multiple CFL licenses, each licensed entity must submit a separate report to maintain compliance. Non-filing can have serious regulatory consequences, including the loss of the ability to conduct lending activities in California.
Why Compliance Matters
The DFPI utilizes these reports to:
- Assess compliance with California lending regulations.
- Monitor industry trends and lending practices.
- Track the types and volume of loans issued under the CFL.
Failure to submit the required report by March 15, 2025, could expose licensees to enforcement actions, including monetary fines, public disclosure of non-compliance, and potential license revocation.
How to File the CFL Annual Report
The DFPI requires all reports to be submitted electronically through the DFPI’s Self-Service Portal:
- Log in to the DFPI Portal – Visit DFPI DocQNet and enter CFL license credentials.
- Complete the Report – Navigate to the “Annual, Liability, & Industry Survey Reporting” section and select the CFL Annual Report form.
- Ensure Accuracy – Verify that all financial and operational disclosures for 2024 are correctly reported.
- Submit Before March 15, 2025 – Late filings can result in penalties, investigations, or license suspension.
For further instructions, clients can refer to the DFPI’s official filing guidelines here.
Risks of Non-Compliance
- License Revocation
The DFPI has the authority to summarily revoke CFL licenses for failure to file.
- Fines & Enforcement Actions
The agency may impose daily fines for non-compliance.
- Operational Disruptions
Non-filing can prevent lenders from continuing operations until compliance is restored.
Our firm has assisted numerous CFL clients in navigating regulatory obligations, responding to DFPI audits, and mitigating enforcement risks. If your organization is at risk of missing the deadline or needs clarification, now is the time to take action.
Need Compliance Support? Contact Us!
📧 Jackellyn Davis, Head of Licensing and Regulatory Compliance
📍 Jackellyn@DossLaw.com
Ensure Compliance Now – Don’t Wait Until the Deadline
With the March 15, 2025, deadline fast approaching, we urge all CFL licensees to take immediate steps to prepare and submit their reports. Our team is available to assist with any questions or filing concerns.
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