Idaho Collection Agency License Guide

In Idaho, any entity operating as a credit or debt counselor, collection agency, or any entity that collects or receives payments for others must hold a Collection Agency license. A license is also required for anyone engaged in the business of collecting and/or receiving payments for others. The Idaho Department of Finance regulates and issues all collection agency licenses.

New license applications and renewals may also be submitted online through the Nationwide Mortgage Licensing System (NMLS). In this guide, we cover the application process handled only by the NMLS. You can review the application files and forms for submission through the Department of Finance in the Collection Agency Section.


All license applications are available online on the Idaho NMLS page. There are a number of company, branch, and individual license types. If you are interested in engaging in the collection agency business, complete the following forms:

  • Collection Agency License application form available here.
    • Collection Agency Branch License application form available here.

Collection Agency License is required prior to obtaining a Branch license.

Note: As document links are updated regularly, they may have expired. If you have trouble accessing the links, go directly to the Idaho NMLS page to find the application you need.


Fulfill Requirements and Obtain Required Documents

  • Company Form: When applying via NMLS, the company form serves as the application for the Collection Agency License..
    • Other Trade Name: Include any names (different from your legal name) that you are using. Applicants who operate under an “other trade name” are required to submit a copy of the Certificate of Assumed Business Name, issued by the Idaho Secretary of State.
    • Resident/Registered Agent: The information in this section must correspond with the information provided on your Idaho Secretary of the State records.
    • Bank Account: This section must include complete information on the company’s operating accounts and all Idaho trust accounts.
    • Qualifying Individual: All locations where applicants conduct business with Idaho debtors or creditors must have a designated qualifying individual. The qualifying individual is required to complete a MU2 form.
      • In the MU2 form, applicants must provide verification of experience. This includes a resume with job titles, as well as descriptions of duties which prove experience in the industry.
    • Disclosure Questions: For each “yes” response, applicants should provide an explanation and applicable documents.
    • Business Plan: The business plan must include products, target markets, a marketing strategy, and an operating structure.
    • Relevant Documentation
      • Copies of relevant documents used in business activities connected with Idaho debtors or creditors.
      • Debt management agreement (applies to debt settlement, credit counselors, and/or debt counselors.
      • Certificate of authority/good standing (applies to corporations and limited liability companies).
    • Formation Document: Submit certified copies of applicable documentation, including all subsequent amendments:
      • Corp: corporate charter or articles of incorporation
      • LLC: articles of organization and operating agreement
      • PTR: partnership agreement
    • Management Chart: Provide an organizational chart demonstrating the company structure, management roles and responsibilities, as well as the qualifying individual(s) name, title, and duties.
    • Trust Account Authorization: Upload the Consent form to give permission to examine trust accounts. You can find the form on the Department’s Applications and Forms page.
  • (Attached) Notification of Agents/Collectors: Each new application must be accompanied by an initial Notification of Agents filing, a $20 check for each agent/qualifying individual, and the New Application Checklist provided on the NMLS website. For additional information (as well as the form), visit the Idaho Department of Finance Applications and Forms page.

Note: The Notification of Agents form must be filed quarterly on March 15, June 15, September 15, and December 15.

For assistance or further information regarding the above highlighted forms, visit the “Quick Guides” page.


Obtain Your ID Collection Agency Bond

All Collection Agency license applicants are required to upload a surety bond. The bond must be furnished and submitted by an authorized surety company. Note that using NMLS for licensees/applications is optional. If you manage your license through NMLS, you are required to manage your surety bond using a fully electronic process.

  • Bond Amount: $15,000
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License Fees

How to fill out your application:

All fees are non-refundable and non-transferable.

  • ID Licensing Fee: $150
  • NMLS Processing Fee: $100

Submit Your Collection Agency License Application

All online license applications must be submitted via NMLS. Note that some agency-specific documentation – such as the Notification of Agents filings – must be mailed and received by the Department within 5 business days of your online submission.

Mailing Address:

Idaho Department of Finance
Consumer Finance Bureau
PO Box 83720
Boise, ID 83720-0031

For any NMLS-related questions, you may contact their call center at (855) 665-7123.

For information regarding the licensing process and requirements, please contact the Department of Finance at [email protected] or (208) 332-8002.

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