Renewal of Practising Certificate

Renewal of Practising Certificate

Cost

The cost to renew an annual practising certificate is £160. Any renewals received after the expiry date of the current certificate will be subject to an additional late renewal penalty as below.

Guidance

Before applying to renew your practising certificate please click the link below to access guidance on the information and evidence requested in the renewal form and general information on complying with your obligations as a member in practice.

IAB Guidance for members in practice – Complying with your obligations

Continuing Professional Development

As part of the evidence you will need to send with your renewal, you are required to provide a record of your CPD for the year preceding your renewal date. The IAB is happy to receive this information in any suitable format as long as it is clearly laid out, showing all necessary information (including reactive and proactive totals). You can view the CPD requirements by clicking on the link below:

IAB CPD Requirements.

If you do not already have a spreadsheet to record your CPD please download the IAB CPD Record sheet using the link below. This spreadsheet is in Microsoft Excel format.

IAB CPD Record Sheet 

Renewal Form

Use a link below to complete the online renewal form.

Applications made using old forms cannot be accepted.

IAB MiP & AML Renewal Form

Please note that the renewal process is now an online process.  You will be required to provide evidence of your compliance with the regulations by uploading some documents at the point of application.  Incomplete applications cannot be submitted.

You can submit your application for renewal up to 6 weeks prior to the current end date of your practising certificate.

 

Renewal process

You must ensure that your Anti Money Laundering (AML) supervision remains up to date via your Member in Practice (MiP) membership.  If you allow your MiP membership to lapse, you will be practising without AML supervision, in breach of the Money Laundering Regulations and IAB membership requirements.  Applications for renewal of your current MiP membership must be made before your current period of supervision ends.  Renewal of your MiP membership will take place from the point that payment is received, after receipt of your completed renewal application form.  Where your application is received after your current period of AML has ended, the following non-compliance fine will be applied in addition to the cost of your MiP renewal (£160):

Practice without supervision (late renewal) 1-14 days: £50 fine

Practice without supervision (late renewal) 15-28 days: £100 fine

Practice without supervision (late renewal) 29 days+: £175 fine

Where late renewals are received, the end date of your new Practising Certificate will be one year from expiry of your previous certificate, however, AML supervision will not be backdated.

If you plan to cease practice and no longer require AML supervision, you must notify the IAB by completing this form.  Should you wish to resume your AML supervision at a later date, you may be required to provide evidence of client disengagement/ceasing practice from the end point of your initial AML supervision period.

 

Upon receipt of a completed online application, you will be contacted by a member of the IAB Compliance and Professional Standards team and provided with the relevant payment link, or phone number to make payment.  Once payment has been successfully made, your AML supervision will be in place.  As your AML supervisor, the IAB Compliance and Professional Standards team will assess your compliance with the regulations, and where shortfalls are identified, work with the member to rectify them.  Your certificate will be released once a review of the documents submitted with your application form has been completed, and any issues identified have been rectified.

 

 

You can submit your application for renewal up to 6 weeks prior to the current end date of your practising certificate.  If you apply within this 6 week time frame, your certificate will be issued for one year from the current expiry date.

If you apply earlier than 6 weeks before the end of your current practising certificate, your new certificate will be issued for one year from the end of the month of application.

 

 

If you require any assistance please contact the Compliance and Professional Standards team on compliance@iab.org.uk or 01732 897756.