The annual renewal of your LEI requires your active participation by logging into the NordLEI portal to confirm that you still want to keep the LEI maintained. You are requested to update and confirm information about your company/legal entity in case anything has changed, e.g. address updates, changed company name etc.

An LEI is considered 'active' (or 'renewed') 12 months from issuance or 12 months from the most recent annual renewal. An active LEI is a regulatory requirement under the EU directives EMIR and MiFID II and is related to the legal transaction reporting undertaken by banks on behalf of their clients.

Renewal of your LEI's validity is easily achieved by clicking the 'Renew LEI' menu item in the NordLEI portal. This presumes that you have logged in to the NordLEI portal, either by entering your log in credentials in the log in page, or by clicking the link provided in NordLEIs automatic emails that are sent to you when it is time for renewal. Once redirected to the renewal page, you are requested to:

• i) Choose whether to renew or close your LEI by clicking in the dropdown list in the right hand side column of the displayed grid.
• ii) Click 'Continue' to review and eventually adjust the displayed legal entity details shown in the form.
• iii) Click to checkout your LEIs subject to renewal.
• iv) Pay by one of the available payment methods.

'Issued' and 'Lapsed' are the two most common statuses that an LEI can have. An 'Issued' LEI is active and hence valid for transaction reporting. A 'Lapsed' LEI is no longer active.

An LEI has a NEXT RENEWAL DATE from which date it will no longer be active. If the NEXT RENEWAL DATE is in the future the LEI will have status 'Issued' until then.

An LEI will expire and become inactive ('Lapsed') if it is not actively renewed annually. The renewal can be undertaken in the NordLEI portal at any point when it is close to the LEI’s expiry date. In cases where an LEI has already expired, the renewal can be undertaken in the NordLEI portal at any given time.

The intent of the LEI System is to identify legal entities uniquely and consistently. To assure data quality and keep changes up to date we recommend our clients to do annual maintenance.

In addition to this certain EU and international regulations demand that an LEI is active, e.g. EMIR (European Market Infrastructure Regulation) for derivatives positions and MiFID II to be able to open a securities account with an EU investment firm or bank.

The user account holder will receive an email from us when it is time to renew the validity period for another 12 months. If the LEI is not renewed, we will inform when it becomes inactive, i.e. 'lapses'.

You need to make sure that the data kept in the register is still correct or otherwise corrected. Such information includes legal name, legal address, headquarters address, applicable business registry and business registry number. In addition, you will be requested to confirm information about the ownership structure of your legal entity.

The LEI registration will be renewed as close to its current renewal date as possible and extended by 12 months.

Early renewal and payment do not affect (shorten) the current validity period. Instead, NordLEI waits for the prolongation until close to the LEI's expiry date - regardless of when the payment is received.

NordLEI recommends immediate payment to avoid invalidity of the LEI for a period.

As it often takes 1-2 business days to receive and register a payment, these delays sometimes allow for reminders to be sent out.

If you have paid without the correct reference number, we cannot match your payment which may severely delay the LEI issuing process.

If you have renewed the LEI but submitted a payment date (with your bank) that is close to the end of the current maintenance period, you will receive reminders until the payment is registered.