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Legal & Compliance  /  Financial & Compliance

State Regulatory Licenses

Effective October 1, 2026Last updated October 1, 2026Contact compliance@drivemilli.com

1. Licensing Model

Milli provides financial management software. Money transmission, deposit, and card issuing services are provided by a federally regulated partner bank, which operates under its own charter. Milli does not currently hold state money transmitter licenses in its own name, because Milli does not receive, hold, or transmit customer funds. Partner institutions will be identified before you enroll in any money movement feature.

2. Service Availability by Feature

Feature Availability
Milli app core features (Tax Vault planning, mileage tracking, expenses and receipts, quarterly estimates, reports, Milli AI) All 50 U.S. states and the District of Columbia
Milli Tax Vault reserves and quarterly tax payments (money movement) Upon launch of partner-provided money movement, subject to partner availability
Milli Elite Card Upon card launch, subject to issuing bank availability and identity verification
Automatic annual tax filing (Elite) Available now. Milli's operator holds IRS preparer and e-file credentials; electronic filing is available through Milli. Contact support for current state return coverage.
U.S. territories and outside the United States Not currently available

3. State-Specific Notices

Residents of certain states have additional rights or may contact their state regulator with complaints: - California: see our California Privacy Rights Notice. Complaints may be directed to the California Department of Financial Protection and Innovation at dfpi.ca.gov. - Illinois: see our BIPA Notice. - New York: complaints may be directed to the New York State Department of Financial Services at dfs.ny.gov. - Texas: complaints may be directed to the Texas Department of Banking at dob.texas.gov.

4. Updates

This page will be updated whenever Milli or its partners obtain, change, or surrender a license, or when service availability changes in any state. Questions: compliance@drivemilli.com.

© 2026 Milli. All rights reserved. Questions about this document can be sent to support@drivemilli.com.

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Milli is not a bank, broker, or licensed financial advisor. Milli is not FDIC insured and does not hold customer funds or offer deposit accounts. For informational purposes only. Milli is a tax preparation platform operated by an IRS-credentialed tax preparer, with IRS preparer credentials and IRS e-file credentials in place. Automatic Annual Tax Filing is available for Elite members; Electronic filing is available through Milli. Tax Vault, quarterly estimates, and Tax Ready Score are automation and calculation tools. Milli AI is not a licensed CPA, attorney, or enrolled agent; AI guidance is informational and not tax advice, and Milli has no financial interest in any product it mentions. Tree of Life, Milli Cents, and retirement and investing tools provide estimates and planning insight, not financial advice. Investing involves risk, including loss of principal. Milli is not a registered investment adviser or broker-dealer. Tax rules vary; consult a licensed professional for personalized advice. See our Financial Disclaimer, FDIC Disclosure, and Conflict of Interest & AI Disclaimer.