Find out about the annual fees that mutual societies must pay to us.
You must pay an annual fee if your mutual society is registered by us either under the Co-operative and Community Benefit Societies Act 2014 or the Friendly Societies Act 1974. Your fees cover the costs of filing your annual return, maintaining the public record file, answering queries, and registering changes.
How we calculate your fees
Fees depend on the total assets in your most recent completed annual return.
We will place your society into one of our five fee categories depending on the value of these assets. The fee amounts are set out in our fee rules FEES appendix 1. The fee period is 1 April to 31 March.
Paying your fees
You can pay:
- By direct debit (you can email the form to firstname.lastname@example.org). You must do this within 15 days of the invoice due date. If you have a direct debit already set up with us, your bank details are shown at the bottom of the invoice.
- By credit or debit card if you are registered for online invoicing.
Pay by card
- American Express (we charge an extra 2% for payments made by credit card and 3.2% for those made by American Express)
Pay by credit transfer
This includes faster payments, BACS, CHAPS, etc. When you make a payment, you should reference it with your firm reference number (FRN) as shown on the invoice. Email your remittance advice and payment details to: email@example.com
Our bank details
Account name: FCA Collection account
Bank name: Lloyds Bank
Account number: 00828179
Sort code: 30-00-02
Swift code: LOYD GB 2LCTY
Iban code: GB68 LOYD 3000 0200 8281 79
Pay by cheque
Send the remittance advice (at the bottom of the invoice), along with a cheque made payable to the ‘Financial Conduct Authority’, to:
The Cashier, Finance Department, Financial Conduct Authority, 25 The North Colonnade, London E14 5HS
When you need to pay
You must pay by the due date.
If you don’t pay on time, we will charge you an extra £250 plus interest at 5% above the Bank of England’s base rate for the period of time between the due date and the date we receive payment.
If you don’t pay your fees, we’ll do one of the following:
- recover the debt using a debt recovery service
- take legal action
We may also cancel your registration.