Limited Exemption Eligibility Calculator
Answer three questions to see whether your business may qualify for the limited exemption under NY DFS Section 500.19(a).
About Limited Exemption
Section 500.19(a) provides a limited exemption for covered entities that meet any one of the three criteria below. Exempt entities must file a Notice of Exemption within 30 days of their determination and still comply with most of Part 500, including MFA, annual awareness training and incident reporting. This calculator covers only 500.19(a); the other exemptions in 500.19(b)–(e) and (g) depend on different facts.
Does your company have fewer than 20 employees and independent contractors?
Count employees and independent contractors of the covered entity AND all of its affiliates, wherever they are located.
Was your gross annual revenue less than $7.5 million in each of the last three fiscal years?
Each of the last three fiscal years must be under $7.5 million; this is not an average. Count revenue from all business operations of the covered entity plus the New York business operations of its affiliates.
Are your year-end total assets less than $15 million?
Calculate under GAAP. Include the year-end total assets of the covered entity and all of its affiliates.
Disclaimer: This calculator is for informational purposes only and does not constitute legal advice. The determination of exemption eligibility involves complex factors and should be confirmed with a qualified compliance professional or legal counsel. Consult the full text of 23 NYCRR 500.19 for complete exemption criteria.
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