News

Are you a Compact filer working with an expanding company? If so, this Tip is for you!

As companies expand into more states, the states may be added to an approved or pending product filing submission, but first and most importantly, the states must be added to the company's annual registration filing. For all Add a State requests, the Compact’s Intake Coordinator reviews whether or not a company is licensed to do business in a particular state. The annual registration filing is the source of this data, therefore the annual registration filing needs to be kept current as the company receives authority to do business in additional states. 

To update the annual registration filing, please submit a Note to Reviewer requesting the filing be reopened to add X State. Once the filing has been reopened, please submit a copy of the Certificate of Authority under the Licensing Verification submission requirement. No additional fees are required in the annual registration filing UNLESS the company is now no longer considered a Regional Company as the company is now licensed in more than 12 states.

It is important to note a company may not successfully add a state to a product filing submission until the annual registration filing has been properly updated. As a reminder, a state is not considered successfully added until the Compact has acknowledged the state.