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LEI Frequently Asked Questions

 

1. What is a Legal Entity Identifier (LEI)?
An LEI is a unique 20 character code associated with a single legal entity. The LEI is a reference data tool to standardize how an entity is identified on financial transactions and is a primary component of the Universal Loan Identifier (ULI).

2. Why would my organization potentially require an LEI?
New reporting rules adopted by the Consumer Financial Protection Bureau (CFPB) under the Home Mortgage Disclosure Act (HMDA) require that all HMDA filers report ULIs for loan applications or loan activities reportable to the CFPB.  The LEI is the entity specific component of the ULI.  The ULI must begin with the Financial Institution’s LEI followed by up to 23 additional letters and/or numbers assigned by the Financial Institution, and end with a two character check digit.

Please visit the CFPB’s website for more information.

There are other financial transactions that also utilize the LEI. More information regarding other uses of LEI can be found  at GLEIF

3. What are the benefits of using MERSCORP Holdings, Inc.’s (“MERSCORP Holdings”) LEI services to register for or renew an LEI??
MERSCORP Holdings offers a streamlined LEI application and renewal process that is paperless and requires no supporting documentation. To further simplify this, certain required fields of the LEI application will be prepopulated for MERS® System members and returning LEI subscribers.

MERSCORP Holdings will also support ongoing compliance efforts by sending reminder emails to prompt organizations to renew LEI records before they lapse. LEI applicants can email This email address is being protected from spambots. You need JavaScript enabled to view it. for status updates and support throughout the LEI application process.

4. How do I apply for or renew an LEI using MERSCORP Holdings’ LEI services? 
Existing MERS® System members may log into the Member Website to register for or renew an LEI. This will allow certain required fields of the LEI application to be prepopulated for the member.

Note: Only entities with a headquarters and legal address in the United States or its territories may apply for or renew an LEI through MERSCORP Holdings, Inc.’s online LEI application. Additionally, only LEIs issued through or transferred to the GMEI® Utility Local Operating Unit (LOU) may be renewed through MERSCORP Holdings, Inc.’s online LEI application. You may verify this by checking to see if your organization’s LEI record has the GMEI® Utility’s managing LOU value of “5493” as its prefix, any letters in its prefix, or if its current managing LOU is reflected as the BED/GMEI Utility (5493), which can be verified on the Global Legal Entity Identifier Foundation (GLEIF) website. If you originally obtained your organization’s LEI through MERSCORP Holdings, Inc.’s online LEI application then it was issued through the GMEI® Utility.

5. What information do I need to have available to fill out the LEI application? 
The following information will be required to process an LEI application.
pdf Download LEI Application Worksheet (129 KB) pdf
(80 KB)

Field Name

Field Description

Legal Name of Organization

The legal name of the organization as supported by regulatory or other official documentation (e.g., articles of incorporation/organization, lender's license, etc.).

Anglicized Legal Name

The legal name of the organization using only the character requirements of the extended ASCII character set.  This is only applicable if your organization has non-Roman characters in its name. Otherwise, this field is not presented or required.  

Legal Entity Identifier (LEI)

The organization's existing LEI, (if the organization already has an LEI and wishes to renew/update its LEI).

Entity Status

The status of the organization (active or inactive).

Expiration Reason

If the organization is inactive, the reason the organization became inactive.

Registration Authority ID

The business registry or registration authority of the organization.

Registration Authority Entity ID

The organization's entity identifier in the selected business registry or registration authority. This is specific to the registration authority and is not the same as the LEI. Only the following registration authorities must be identified if applicable.: AK-State of Alaska Corporations Registry, CA- Secretary of State Business Entity Records, MT- Secretary of State Corporate Records, NE- Secretary of State Business Services Division, UT-Division of Corporations and Commercial Code.

Headquarters Address

The address of the organization's headquarters.

Legal Address

The organization's registered address according to its documentation for incorporation/organization.  This may differ from where the organization is headquartered or physically operating.

Entity Type

The legal structure of the organization such as Federally Chartered Bank, State Chartered Bank, Credit Union, Corporation, Limited Liability Company, Federal Agency, State Agency, Non-Grantor Statutory Trust, Limited Liability Partnership, Limited Partnership, Professional Corporation, Sole Proprietorship, Fund.

Entity Category

An indicator of the basic category or type of entity that best describes the organization such as Fund, Sole Proprietor, Bank, Corporation, Government. Other is also available if none of the options provided apply.

Headquarters LEI

For organizations with Branch as its Entity Category, the LEI of the headquarters organization.

Ultimate Parent LEI

The LEI of the organization's Ultimate Parent. Ultimate Parent is the highest level legal entity preparing consolidated financial statements for the organization. The Ultimate Parent LEI cannot be the same as the LEI for the applicant organization. If you do not provide either the Ultimate Parent LEI or the Ultimate Parent Legal Entity Name, Address, and Registration Authority ID/Entity ID, then you must select an Opt Out reason. (See below for the list of Opt Out Reasons available)

Ultimate Parent Legal Entity Name

The legal name of the Ultimate Parent, as supported by regulatory or other official documentation (e.g., articles of incorporation/organization, lender's license, etc.).

Ultimate Parent Address

The headquarters address for the Ultimate Parent.

Ultimate Parent Opt-Out

The reason the Ultimate Parent relationship cannot be provided.

Ultimate Parent Registration Authority ID

The business registry or registration authority of the Ultimate Parent. This is specific to the registration authority and is not the same as the LEI. Only the following registration authorities must be identified if applicable: AK-State of Alaska Corporations Registry, CA- Secretary of State Business Entity Records, MT- Secretary of State Corporate Records, NE- Secretary of State Business Services Division, UT-Division of Corporations and Commercial Code.

Ultimate Parent Registration Authority Entity ID

The identification number assigned to the Ultimate Parent in the selected business registry or registration authority.

Direct Parent LEI

The LEI of the organization's Direct Parent. Direct Parent is the lowest level legal entity preparing consolidated financial statements for your organization. The Direct Parent LEI cannot be the same as the LEI for the applicant organization. If you do not provide either the Direct Parent LEI or the Direct Parent Legal Entity Name, Address, and Registration Authority ID/Entity ID, then you must select an Opt Out reason. (See below for the list of Opt Out Reasons available)

Direct Parent Legal Entity Name

The legal name of the organization's Direct Parent as supported by regulatory or other official documentation (e.g., articles of incorporation/organization, lender's license, etc.).

Direct Parent Address

The headquarters address for the Direct Parent.

Direct Parent Opt-Out

The reason the Direct Parent relationship cannot be provided.

Direct Parent Registration Authority ID

The business registry or registration authority of the Direct Parent. This is specific to the registration authority and is not the same as the LEI. Only the following registration authorities must be identified if applicable: AK-State of Alaska Corporations Registry, CA- Secretary of State Business Entity Records, MT- Secretary of State Corporate Records, NE- Secretary of State Business Services Division, UT-Division of Corporations and Commercial Code.

Direct Parent Registration Authority Entity ID

The identification number assigned to the Direct Parent in the selected business registry or registration authority.

Opt-Out Reasons

Opt-Out Descriptions

No LEI

The parent does not consent to have an LEI, or the relationship is not yet known, or a relationship is not yet defined due to the absence of a parental LEI.

Natural Persons

There is no parent according to the definition used, because the entity is controlled by natural person(s) without any intermediate legal entity meeting the definition of accounting consolidating parent.

Non Consolidating

There is no parent according to the definition used, because the entity is controlled by legal entities not subject to preparing consolidated financial statements.

No Known Person

There is no parent according to the definition used, because there is no known person controlling the entity (e.g., diversified shareholding).

Legal Obstacles

Obstacles in the laws or regulations of a jurisdiction prevent providing or publishing this information.

Consent Not Obtained

The consent of the parent was necessary under the applicable legal framework and the parent did not consent or could not be contacted.

Binding Legal Commitments

Binding legal commitments (other than the laws or regulations of a jurisdiction), such as articles governing the legal entity or a contract, prevent providing or publishing this information.

Detriment Not Excluded

The child entity has sought to consult the parent entity about the reporting of the parent information but could not confirm the absence of detriment in a way that can appropriately prevent liability risks for the child entity.

Disclosure Detrimental

The disclosure of this information would be detrimental to the legal entity or the relevant parent. This will include reasons generally accepted by public authorities in similar circumstances, based on a declaration by the entity.

 

6. What is the cost to apply for or renew an LEI?
The cost to apply for an LEI is currently $119. The annual LEI renewal cost is $99. Updates to an LEI record require its renewal and the renewal cost is prorated accordingly.

7. How will my organization be charged for the LEI registration or renewal?
Payments for LEI registrations or renewals can be made by credit card. The following credit cards are accepted: Visa®, MasterCard®, American Express®, and Discover®. Please note that successful payment is required to process the LEI registration or renewal.

8. What type of review process occurs before an LEI is issued or renewed?
The LEI application is reviewed to confirm that the requested entity exists, that it is eligible to receive an LEI, that an LEI has not already been issued for the entity, and that the submitted data is accurate.

9. How long does it take for an LEI registration or renewal to be processed?
It typically takes approximately three to five business days to process an LEI registration or renewal from the date the application is submitted.

10. Once an LEI has been issued or renewed, how will my organization be notified?
The Submitter and LEI Contact identified on the LEI application will receive an email once the LEI has been issued or renewed. The email will contain the LEI and other information related to the LEI record.

11. What occurs if an LEI cannot be issued or renewed?
If an LEI cannot be issued or renewed, the reason will be communicated via email to the Submitter and the LEI Contact identified on the LEI application.

If additional information is necessary to issue or renew an LEI, MERSCORP Holdings may contact the LEI Contact identified by the applicant to request additional information.

12. Will we receive a refund of the registration or renewal cost if an LEI cannot be issued or renewed?
The processing fee for LEI registrations or renewals is not refundable in the event that the LEI cannot be issued or renewed.

13. How frequently must an LEI record be renewed?
The LEI record must be renewed at least annually. Updates to an LEI record result in its renewal.

14. Will MERSCORP Holdings remind my organization when its LEI record is due for renewal?
As a courtesy, MERSCORP Holdings will send reminder emails to the LEI Contact identified on the LEI application at 60, 30, 15, 7, 1 day(s) before the renewal date.

15. How can I update my organization’s LEI Contact information?
An existing MERS® System member can submit a Member Information Change Request Form to This email address is being protected from spambots. You need JavaScript enabled to view it. to update its LEI Contact.

The LEI Contact’s first name, last name, title, email address, and phone number will be needed in order to make the update.

16. What happens if my organization’s LEI record is not renewed by its renewal date?
An LEI record that is not renewed by its renewal date may not comply with regulatory requirements. An LEI record may be renewed after its renewal date has lapsed.

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LEI Registration and Renewal Services will be available for non-MERS® System Members starting September 1, 2017.  

If your organization is not a MERS® System Member:

  • Begin preparing to apply for an LEI by reviewing the LEI Application Worksheet.
  • Bookmark this page and visit again on or after September 1 to register for or renew an LEI.

Unsure if you are a MERS® System Member? To determine if your organization is a current MERS® System Member, access our online Member Search.

You are now leaving MERSCORP Holdings' website and entering an external website. MERSCORP Holdings cannot attest to the accuracy of information provided by linked sites. Linking to a website does not constitute an endorsement by MERSCORP Holdings or any of the products presented on the site.

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