How to Reactivate a LAPSED LEI

How to Reactivate a LAPSED LEI

To Reactivate LAPSED LEI use the instructions on this page. Your LEI must be renewed annually to remain Active. LAPSED status is not good for your Legal Entity.

Your LEI must be renewed annually to remain ACTIVE.

Failure to renew it will put the LEI into a LAPSED status in the Global LEI System index. LAPSED status is not good for your legal entity, it could mean transactions are blocked or the risk of non-compliance fines.

LEIpapa’s team can help renew LAPSED LEIs and return them to ACTIVE status quickly.

The example of LAPSED LEI
The example of LAPSED LEI.

How to Reactivate a LAPSED LEI

To Reactivate LAPSED LEI use the following instructions.

Step 1: Login to the app

Log into your LEIpapa account, or create an account if you are not already a LEIpapa account holder.

Step 2: Submit your order

Complete and submit the LEI registration.

If your LEI is currently managed elsewhere, first you need to transfer your LEI to LEIpapa and RapidLEI (please follow the instructions to Transfer an LEI).
Donโ€™t worry. Our team monitors all registrations and will be in touch with you if they see any issues or inconsistencies or if they need further information.

Why an LEI might become LAPSED?

Here are the main reasons why an LEI might become LAPSED.

Failure to Renew

The first and the most common reason for an LEI to become LAPSED is the failure to renew it. LEIs are valid for one year from the date of issuance or last renewal. If the legal entity does not renew its LEI before its expiration date, the LEI status changes to LAPSED.

Please note that besides the cheaper pricing, multi-year LEIs have a great benefit. They will automatically renew 60 days before the ‘Next Renewal Date’ and are thus excluded from the list of entities available for renewal. The exception is for any LEIs with Level 2 data or any ESO-based FUND. Such entities cannot be verified automatically - these will appear too.

Incomplete or Inaccurate Data Updates

LEI codes require the legal entity to keep their information up-to-date. If required updates are not made, or if the information provided is incomplete or inaccurate, this might lead to the LEI becoming LAPSED, as it no longer accurately represents the legal entity.

In such a case, we strongly recommend immediately informing LEIpapa about the issue and providing the documents (evidence) with the relevant data to update. LAPSED LEI can impact a legal entity’s transparency and credibility, as the LEI system is used globally to enhance transparency in financial transactions.

Non-Compliance with the LOU’s Policies

RapidLEI is a LEIpapa’s LOU and has specific policies regarding the maintenance and renewal of LEIs. Non-compliance with these policies can result in a LAPSED status.

This non-compliance may lead your business to face penalties, fines, legal repercussions, and strained relationships with regulators.

Discontinued Business Operations

In some cases, if your legal entity ceases operations or undergoes significant changes (like mergers or acquisitions), its LEI might become LAPSED, especially if these changes are not properly reported to LEIpapa or directly to RapidLEI.

Administrative Errors or Delays

Sometimes, administrative errors or delays in processing renewals or updates can result in an LEI being temporarily marked as LAPSED. In such cases, correcting the error or completing the process can restore the ACTIVE status.

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