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Annual Reporting, Add-On Transactions, and Amendments


Amendments

  • Amendments may be submitted under MINN. STAT. CHAPTER 83.31.
  • The fee for amendments is $25.
  • The seller should submit the amended documents including the old language with the new language inserted and underlined (only amended documents need to be submitted).  Sellers may not add inventory for additional sales by amendment.

Annual Filings

  • Within 120 days of the sellers’ fiscal year end, an annual report must be filed under MINN. STAT. CHAPTER 83.30. For most sellers’ the deadline is May 1st of each year.
  • The fee is $75 for a registration by notification, and $150 for a registration by qualification.
  • If the Department of Commerce does not receive an annual report by its due date, it will withdraw the registration.  The registration can be reinstated by filing the annual report and fee.

Add-On Transactions

  • Under MINN. STAT. CHAPTER 83.23 SUBD. 4 an applicant can add additional inventory.
  • The fee is $50.

  • For applications by qualification, there is an additional fee of $1 per potential added sale until the cap of $3,500 is met.  After the maximum fee has been met, the fee is $50 each time inventory is added.  The seller must update the application to reflect the additional inventory added.  In addition, the seller must submit documentation that the new inventory meets the criteria of Minnesota Statutes and Rules.

Prior to registering to sell subdivided land, timeshares or camping contracts in the State of Minnesota, it is highly recommended that you consult with an attorney specializing in Minnesota Real Estate Law.