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#59841 - 02/07/03 04:53 PM Designation of Exempt Person
VickiS Offline
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VickiS
Joined: Feb 2002
Posts: 127
Madison, Wisconsin
Question: When filing a DEP Biennial Renewal what date goes in #11, the original effective date of the exemption or the effective date of the biennial renewal?
We're just not clear on this!

Thanks,
Vicki


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General Discussion
#59842 - 02/07/03 04:56 PM Re: Designation of Exempt Person
Mickey Offline
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Mickey
Joined: Aug 2002
Posts: 167
FL
The orginal effective date of the exemption. That's what we are using.
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#59843 - 02/07/03 04:58 PM Re: Designation of Exempt Person
VickiS Offline
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VickiS
Joined: Feb 2002
Posts: 127
Madison, Wisconsin
That's what we've been entering there, but after thinking about it, I wasn't sure whether that was correct. Thanks for answering! I appreciate it!!

Vicki

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#59844 - 02/07/03 09:11 PM Re: Designation of Exempt Person
John Burnett Offline
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John Burnett
Joined: Oct 2000
Posts: 40,086
Cape Cod
It's amazing that the instructions for this form are so unhelpful. It's as if someone came up with the form and decided that the instructions should say "You figure it out"!

I agree -- use the date the original exemption was approved (from your first filing of the form) under Phase II rules.
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#59845 - 02/08/03 03:08 PM Re: Designation of Exempt Person
Elwood P. Dowd Offline
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Elwood P. Dowd
Joined: Aug 2001
Posts: 21,939
Next to Harvey
I am taking the time to agree only because the form does not answer the question and because I have seen examiners equally confused on this point.

You are filing a renewal. The original effective date of the exemption may have been some years prior.
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#59846 - 02/10/03 03:36 PM Re: Designation of Exempt Person
BrendaC Offline
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BrendaC
Joined: Sep 2001
Posts: 6,029
Sweet Home AL
Question 16 on FinCENs FAQs addresses the exemption date question.
http://www.fincen.gov/reg_faqs.html
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#59847 - 02/10/03 04:15 PM Re: Designation of Exempt Person
John Burnett Offline
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John Burnett
Joined: Oct 2000
Posts: 40,086
Cape Cod
Thank you, Brenda!
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John S. Burnett
BankersOnline.com
Fighting for Compliance since 1976
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#59848 - 02/11/03 06:25 PM Re: Designation of Exempt Person
VickiS Offline
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VickiS
Joined: Feb 2002
Posts: 127
Madison, Wisconsin
Thanks everyone! I really appreciate your help!!

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