Instructions for Form DFPI-506 Schedule U Report on Fiduciary Activities in California and Related Security Deposited With the State Treasurer of California - California

Form DFPI-506 Schedule U Report on Fiduciary Activities in California and Related Security Deposited With the State Treasurer of California - California

This document contains official instructions for Form DFPI-506 Schedule U, Report on State Treasurer of California - a form released and collected by the California Department of Financial Protection and Innovation. An up-to-date fillable Form DFPI-506 Schedule U is available for download through this link.

FAQ

Q: What is Form DFPI-506?
A: Form DFPI-506 is a report used to disclose fiduciary activities and related security deposits in California.

Q: Who needs to file Form DFPI-506?
A: Any entity engaged in fiduciary activities in California and holding related security deposits must file Form DFPI-506.

Q: What are fiduciary activities?
A: Fiduciary activities refer to the holding or management of property or funds on behalf of others, such as trust companies, escrow agents, and money transmitters.

Q: What should be included in the report?
A: The report should detail the types and amounts of fiduciary activities performed in California, as well as any related security deposits held with the State Treasurer.

Q: Is there a deadline for filing the report?
A: Yes, the report must be filed annually by April 1st for the preceding calendar year.

Q: Are there any penalties for not filing the report?
A: Failure to file the report or providing false information may result in penalties or other enforcement actions by the DFPI.