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NY DFS Part 500

What is the NY DFS Part 500 exemption threshold?

Direct Answer

NY DFS Part 500 provides limited exemptions for covered entities with fewer than 10 employees (including independent contractors), less than $5 million in gross annual revenue over the prior three fiscal years, or less than $10 million in year-end total assets. Even exempt entities must file a notice of exemption with DFS. Verify current exemption thresholds with DFS as these figures are subject to revision.

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