You can renew your LEI as much as 45 days before the expiry of your currently valid code. No need to worry about losing out because the extra days will be added to your new code and reflected in the new expiry date.
If you already have an LEI with us, ManagedLEI uses the same fast, automated process for the renewal of an LEI number as we use for the creation of one. If your LEI is with another provider, we need to import the LEI from an alternative Legal Operating Unit (LOU) / LEI provider. For LEI transfers, please click here instead [link].
LEI Renewal takes four steps.
- We automatically verify Legal Entity Reference Data from the appropriate Business Registry where we determine if there have been any changes to business details.
- You eSign the applicable terms and conditions in your browser, or forward those terms to a delegated signing authority.
- You’ll confirm the relationship to any Direct or Ultimate Accounting parent remains the same and provide updated evidence for this ongoing relationship.
- We renew your certificate.
Did you know, you don’t have to renew your LEI Number every year? If you want to avoid the risk of a lapsed LEI or reduce the burden of managing large LEI portfolios, ManagedLEI offers multi-year LEIs and ManagedLEI Pro Services [link].
For multi-year options, select the number of years above.
Why do I need to renew my LEI?
In order to maintain trustworthy and high quality data, an LEI must be renewed annually. Lapsed LEIs are represented with a status of ‘LAPSED’ in the LEI database managed by the Global Legal Entity Identifier Foundation (GLEIF). A ‘LAPSED’ status in the GLEIF database reflects against your company name and will prevent you from successful trade reporting. If you’re in a jurisdiction where the use of LEI is required, this could mark your organisation for non-compliance, leading to a possible fine.