How to renew an LEIA guide to LEI Renewals & TransfersRenewing your LEI Code is simple. Firstly, you need to know the expiry date of your LEI code. This will be one year exactly from the date it was either registered, or last renewed. Once this date passes, your LEI will show as 'LAPSED' on the LEI index.
To renew, simply follow the guides below. |
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Why do I need to renew my Legal Entity Identifier?
In order to maintain high quality and trustworthy data, the LEI must be renewed annually. If you currently have an LEI code you should check its status regularly. LEI Worldwide monitor our customers LEIs so that they do not expire.
We maintain regular contact with the owners of our LEIs in order to ensure there is no lapse in the LEI which would cause problems for that individual entity, and on a larger scale weaken the LEI ecosystem.
We maintain regular contact with the owners of our LEIs in order to ensure there is no lapse in the LEI which would cause problems for that individual entity, and on a larger scale weaken the LEI ecosystem.
What happens if I do not renew my LEI?
Depending on which legal jurisdiction or industry you belong to, you may be required legally to have an active LEI. If you allow your LEI to lapse, your LEI will show as 'LAPSED' on the GLEIF search database.
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A lapsed LEI cannot be used for regulatory reporting, and is considered to be out of date. An LEI marked as 'lapsed' can be changed back to 'Active' once it is renewed. Ensuring your company has an Active LEI at all times is paramount to avoiding fines or delayed business transactions.
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If your firm has a large number of LEIs to manage, it might be worthwhile considering to get a Registration Agent who can manage your portfolio of LEIs.
If this is a something you might benefit from please contact our team of experts who can talk to you about options.
The status 'lapsed' does not mean that the entity is invalid, orthe information is incorrect, it simply means the LEI is due for upkeep.
If this is a something you might benefit from please contact our team of experts who can talk to you about options.
The status 'lapsed' does not mean that the entity is invalid, orthe information is incorrect, it simply means the LEI is due for upkeep.
How to renew an LEI Code
If you have already got an account or multiple LEIs with LEI Worldwide, the process of renewal is very straightforward. Simply click the renewal button on the home page or below, and enter the details of the legal entity which needs to be renewed. This process works for entities which are approaching their renewal date, and LAPSED LEIs.
Alternatively, LEI Worldwide will send you a renewal notification via email well in advance of your renewal dates. If you have not yet received your renewal notification please check you spam folder it it may have been picked up. This LEI renewal notification will contain a link to renew your LEI directly.
Once complete, you will be directed to the checkout page. The cost of renewal is the same as the cost of a new LEI.
If you would prefer to pay via bank transfer please contact the sales team at sales@lei-worldwide.com
Alternatively, LEI Worldwide will send you a renewal notification via email well in advance of your renewal dates. If you have not yet received your renewal notification please check you spam folder it it may have been picked up. This LEI renewal notification will contain a link to renew your LEI directly.
Once complete, you will be directed to the checkout page. The cost of renewal is the same as the cost of a new LEI.
If you would prefer to pay via bank transfer please contact the sales team at sales@lei-worldwide.com
Transfer my LEI
An LEI transfer is the act moving an LEI from one service provider to another.
If you have an LEI code with another LEI service provider you can either transfer it to LEI Worldwide for free, or transfer and renew it together.
If you would like to renew an LEI that is currently with another LEI service provider you will be required to transfer it first. Please just complete the form and select whether you would like to renew it.
Please note that LEI Worldwide may contact you to obtain a written signature to confirm authorisation and proceed with the transfer.
If you have an LEI code with another LEI service provider you can either transfer it to LEI Worldwide for free, or transfer and renew it together.
If you would like to renew an LEI that is currently with another LEI service provider you will be required to transfer it first. Please just complete the form and select whether you would like to renew it.
Please note that LEI Worldwide may contact you to obtain a written signature to confirm authorisation and proceed with the transfer.
