(1) Pharmacy benefit managers must annually renew their registrations by paying the renewal fee. Pharmacy benefit managers must access invoices through the commissioner's electronic system, which is available at www.insurance.wa.gov.

(2) The renewal is valid for one fiscal year, from July 1st through June 30th.

(3) The renewal fee is due and payable no later than July 15th of each year. Failure to timely pay the renewal fee may subject a pharmacy benefit manager to a civil penalty under RCW 19.340.110(2).

(4) The renewal is not complete until the commissioner receives the correct renewal fee.