Why the LEI status matters as much as the LEI itself
The LEI code is used to uniquely identify legal entities in the global financial system. However, having an LEI alone does not provide the full picture. Just as important is the LEI status, which indicates whether the data linked to the LEI can be considered current and reliable.
The LEI status is not designed to answer whether a specific transaction is technically possible. Its purpose is to provide a transparent signal about data quality and verification. An LEI may exist in a database, but the status determines whether it represents a well-maintained and professionally managed record.
How LEI statuses form and change over time
The most common LEI statuses encountered in practice are those that describe whether the entity’s reference data is up to date. These statuses apply to legal entities that continue to exist and focus specifically on data maintenance rather than structural or legal changes.
The two primary statuses in this category are ISSUED and LAPSED. Together, they indicate whether an LEI record has been confirmed within the last 12 months and whether its data can be relied upon as current.
ISSUED – a valid LEI with confirmed data
ISSUED is the official GLEIF registration status indicating that an LEI is valid and that the entity’s reference data has been verified within the last 12 months.
An ISSUED status means that the legal name, registration details, legal form, registered address, and, where applicable, ownership information match authoritative sources. This status provides counterparties, financial institutions, and regulators with confidence that the LEI record reflects the current situation of the entity.
In practice, ISSUED is the only status that can be considered a fully compliant and “in good order” LEI.
LAPSED – a warning about data currency
If an LEI is not renewed within 12 months, its status changes to LAPSED. This does not mean the LEI disappears or is automatically closed. It means that the associated data has not been confirmed as current.
LAPSED is a warning status. It signals that data quality can no longer be guaranteed and that third parties cannot be certain the LEI record reflects the entity’s present situation. LAPSED is not an alternative to ISSUED and should not be interpreted as “almost valid”.
In some systems, a LAPSED LEI may still be technically visible or even temporarily accepted. This does not change the underlying fact that the data has not been verified. A LAPSED status may remain indefinitely until the data is renewed or until the legal entity itself ceases to exist.
RETIRED – the LEI ends when the entity ends
RETIRED is not related to renewal timing or data age. It reflects the end of the legal entity’s lifecycle.
An LEI receives the RETIRED status when the legal entity has been liquidated, dissolved, removed from the business register, or merged into another entity in a way that it no longer exists as an independent legal person. Because an LEI cannot exist without a legal entity, the LEI’s validity necessarily ends together with the entity.
RETIRED is a final status. A retired LEI cannot be renewed, reactivated, or returned to ISSUED. It remains only as a historical record.
Exception cases – ANNULLED, DUPLICATE, and MERGED
In addition to the core LEI statuses, LEI records may display statuses that reflect specific exception scenarios. These statuses explain why an LEI was closed or marked as unusable and are not related to LEI renewal. They cannot be resolved through renewal processes.
DUPLICATE – more than one LEI issued for the same entity
DUPLICATE indicates that more than one LEI has been mistakenly issued for the same legal entity. This can occur due to incomplete information, parallel applications through different providers, or historical data inconsistencies.
In such cases, one LEI is designated as the primary and remains usable. The other LEI records are marked as DUPLICATE and closed for use. These records remain visible for historical traceability but cannot be renewed or reactivated.
ANNULLED – registration cancelled by the issuing organisation
ANNULLED means that an LEI registration has been cancelled by the issuing organisation (LOU). This may occur due to errors in the application, an ineligible applicant, incorrect authority, or other issues that justify invalidating the registration.
An ANNULLED LEI is not considered valid and cannot be restored through renewal. The status reflects a correction or cancellation in the registration process rather than a lapse in data maintenance.
MERGED – entity absorbed into another legal entity
MERGED indicates that the legal entity has been merged into another entity and no longer exists as an independent legal person.
As part of the structural change, the LEI is closed and marked as MERGED. References are maintained in the LEI system to preserve historical clarity and traceability. This status is not related to renewal and cannot be reversed.
Process statuses – PENDING_TRANSFER and PENDING_ARCHIVAL
Some LEI statuses are temporary and indicate that a process is currently underway. These statuses do not represent a final assessment of LEI validity. They describe transitional states while a specific action is being processed in the LEI system.
PENDING_TRANSFER – LEI in the process of being transferred
PENDING_TRANSFER indicates that the LEI is in the process of being transferred from one service provider or registration agent to another.
This typically occurs when an entity chooses to manage or renew its LEI through a different provider. The status is temporary and exists only until the transfer process is completed. Once the transfer is finalised, the LEI returns to its appropriate registration status.
PENDING_ARCHIVAL – LEI in the process of being archived
PENDING_ARCHIVAL indicates that an LEI record is in the process of being archived.
This status usually relates to situations where the end of the legal entity has been identified, but the archival process has not yet been fully completed in the database. PENDING_ARCHIVAL is a temporary status and will be replaced once the archival process concludes.
Terminology note: ACTIVE and EXPIRED
In everyday communication and in some user interfaces, the terms ACTIVE and EXPIRED are often used when referring to LEI statuses. These are not official GLEIF registration statuses.
ACTIVE is commonly used as a descriptive term for ISSUED, indicating a valid LEI with confirmed data.
EXPIRED is often used as a simplified term for LAPSED, indicating that the LEI data has not been renewed within 12 months.
These terms exist outside GLEIF’s formal documentation to make the concept more accessible to non-specialists. In the official LEI data model, they correspond to ISSUED and LAPSED and do not represent separate registration statuses.
Why LEI status has practical implications
An LEI is often used across multiple organizational processes, including account onboarding, counterparty due diligence, group structure mapping, risk assessment, and regulatory reporting. For this reason, it is not sufficient for an LEI to merely exist.
ISSUED signals verified and reliable data. LAPSED signals unconfirmed data and may trigger additional checks, delays, or clarification requests. Process statuses such as PENDING_TRANSFER or PENDING_ARCHIVAL indicate that the record is changing and that its final state should be confirmed.
To confirm the current LEI status and reference data, the official GLEIF LEI database can be consulted. For a more user-friendly overview, LEI status information can also be checked using the LEI System search tool.
Summary
The LEI status is a key indicator of data quality and reliability. ISSUED confirms that the data is current and verified. LAPSED warns that the data has not been confirmed and should not be treated as an acceptable alternative to a valid LEI. RETIRED reflects the end of the legal entity and, with it, the end of the LEI’s validity.
Exception statuses such as DUPLICATE, ANNULLED, and MERGED explain why an LEI was closed, while process statuses like PENDING_TRANSFER and PENDING_ARCHIVAL indicate temporary transitions.
Understanding these distinctions helps organizations interpret LEI information correctly and maintain a transparent, professional approach to entity identification.