UCCC Retail Sales Notification Filing & Fee

Credit sellers and retail merchants that regularly extend consumer credit as a "creditor" must annually file and pay UCCC notification. [5-6-201, 5-6-202, & 5-6-203, C.R.S.]

A "creditor" is a person or business that sells or leases goods or services to
consumers and either arranges financing from others or provides its own
financing. If your name appears on a retail installment contract or consumer
lease as the creditor, seller, or lessor, even if you immediately sell or assign
the contract to a finance company or bank, you are a creditor. You are
required to file the form and pay the annual fee within 30 days of
becoming a creditor and by January 31 each year thereafter. For more
information: UCCC Retail Sales Business Memorandum and Initial
Notification Form.

If you are required to file notification and fail to do so, consumers have no
legal obligation to pay any of the finance charges due under the credit
transactions. Your completed notification and fee payment are due
January 31st . If payment is not received by March 1st, late payment fees of
$5.00 per calendar day are imposed from February 1st , as authorized by law.
This fee will continue to accrue until your notification is properly filed and all
fees due are received.