The Maryland Office of Financial Regulation (OFR) recently issued an advisory to remind licensed companies that a new assessment funding model will take effect for Fiscal Year 2026 which begins July 1. The new approach calculates assessments based on each licensee’s business activity within Maryland, replacing the previous fixed amount charged per physical branch.

OFR states in the advisory that many licensees can expect lower fees under this revised framework. The office says it will review the model annually to maintain fairness and alignment with actual supervisory costs.

Assessment notices will be issued via the Nationwide Multistate Licensing System (NMLS) in the coming weeks, with payment due within 30 days of issuance.

The assessment supports the Non-Depository Special Fund, which funds OFR’s work supervising licensees, enforcing financial laws, addressing consumer complaints, and conducting examinations and investigations.