Last updated on: 5/16/2016
Every authorized firm in IARD has a financial account with FINRA, the Flex-Funding Account. IARD facilitates the collection and disbursement of state registration and Notice Filing fees on behalf of the filer.
To submit Form ADV and Form ADV-W filings, IARD requires that a firm have enough funds deposited in its account to cover all fees associated with the filings.
Flex-Funding Account vs. Renewal Account
Account Payment Methods and Addresses
How to Request a Refund Check
- E-Bill provides firms the ability to view detailed financial account information specific to your firm.
- IARD also collects system fees that are charged when the firm’s first electronic Form ADV filing is made (Initial Set-up Fee) and annually thereafter (Annual Fee).
- IARD does not charge fees on filings that amend Form ADV information, but do not request a new state registration or Notice Filing status.
- In order to access your firm's financial account activity, you will need to review your firm's account through E-Bill.
- E-Bill enables firms to request data for the previous month's Flex-Funding account activity.
- For additional information regarding E-Bill, please refer to the E-Bill User's Guide.
- Forms U4, U5 and BR are filed via Web CRD. Please visit the CRD Fees & Accounting page for additional information.
Special Note to Joint Broker/Dealer and Investment Adviser (BD/IA) Firms:
There is only one financial account for both Web CRD and IARD – the Flex-Funding Account. Please ensure that adequate funds are on deposit each day to allow for registration transactions to occur in both systems.
Flex-Funding Account Balance:
- Your firm must have sufficient funds on deposit in its account in order to request a new state registration or Notice Filing.
- If there are not sufficient funds on deposit, form filings will not pass the automated completeness check and cannot be submitted.
Flex-Funding Account vs. Renewal Account:
There are two types of financial accounts: Flex-Funding Account and Renewal.
- The Flex-Funding Account is your firm’s primary account that enables day-to-day registration transactions to occur.
- The Renewal Account is the account your firm uses to participate in the annual renewal of its state registrations and Notice Filings.
- The annual Renewal Program for firms, their branches, and representatives begins in November each year.
- Renewal Statements for fees your firm owes will appear in E-Bill.
- Visit the Renewal Program Web page for more information.
Account Payment Methods and Addresses:
IA firms may submit their payments by:
- Electronic Payment via E-Bill
- ACH or Wire Transfer
- Check (Make checks payable to FINRA and be sure to indicate your firm's CRD number on the check)
- Funds Transfer
Electronic Payment via E-Bill:
E-Bill allows entitled users to view and add funds to the Flex-Funding Account. E-Bill is an application that enables a firm to authorize electronic payment directly from its designated bank account to the firm's Flex-Funding Account. FINRA does not charge firms any fees for utilizing E-Bill; however, firms should verify with their bank whether that bank will assess fees for utilizing E-Bill. Entitlement is required to use E-Bill. For detailed information about the enrollment process or how to use this application, please review the E-Bill User’s Guide.
Features of E-Bill include:
- Entitlement – Entitled users login using existing Web CRD/IARD user name and password. No additional login is required.
- Timely Payment to the Flex-Funding Account – Firms can use funds as soon as the funds post to the firm’s Flex-Funding Account.
- Ability to Update E-Bill Account information – Users can select to enter new account information or use previously saved ACH account information for funding.
- Viewable Payment Activity – User may view all payments submitted through E-Bill at any time.
Payment by ACH/Wire Transfers:
IA firms may transfer funds via ACH or wire into their Flex-Funding Account:
- Wire transfer deposits received by FINRA before 2 p.m., ET, should be available in your account the next business day. If the deposit is received after 2 p.m., ET, the deposit should be available in your account within two business days. Please note that while wire transfers are received by FINRA on the same day they are initiated, ACH bank transfers typically take several days longer to be received by FINRA.
- Provide your bank with the following information to initiate a transfer (use the applicable ABA Number for the type of payment you are making – either wire or ACH):
- Bank Name:
|Bank of America
- Transfer funds to:
- Wire ABA Number:
- ACH ABA Reference Number:
- FINRA Account Number:
- Reference Number:
|Firm's CRD Number
- Inform your bank to credit funds to the FINRA bank account and use your firm's CRD Number as a reference number only.
- Please record your bank’s confirmation number for the transfer. You will need this if you choose to call your bank later to confirm the transfer.
- If you send your wire transfer by 2 p.m., ET, your firm may confirm FINRA’s receipt of the payment the next business day by checking your account or calling the Gateway Call Center at (240) 386-4848. Please have the confirmation number of the transfer provided to you by your bank for FINRA to research the payment.
- If your firm is located outside of the United States, FINRA’s SWIFT-BIC is BOFAUS3N.
Payment by Check:
- Check deposits received before 2 p.m., ET, should be posted in your account the next business day.
- Check deposits received after 2 p.m., ET, should be posted in your account in two business days.
- Please make checks payable to FINRA and use only your firm's CRD Number as the reference number.
- Firms may submit their checks to FINRA by either US Mail or overnight Express Mail.
- Check payment mailing locations:
Firms may submit their checks to FINRA by either US Mail or overnight Express Mail.
For US Mail Delivery:
P.O. Box 418911
Boston, MA 02241-8911
(Note: this P.O Box will not accept courier or overnight deliveries.)
For Courier &
Overnight Deliveries Only:
Bank of America Lockbox Services
2 Morrissey Blvd.
Dorchester, MA 02125
Provide the following phone number if one is required for the recipient:
To transfer funds between affiliated firms accounts, use E-Bill.
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How to Request a Refund Check
Firms may choose to withdraw funds from their Flex-Funding Account due to various circumstances (e.g., renewal refund, or account overfunding).
You must be an entitled E-Bill user to initiate a refund from your firm's Flex-Funding account. If you do not have access to the E-Bill privilege, please contact your firm's Super Account Administrator or an alternate Account Administrator for your firm. For additional information about the E-Bill system, please review the E-Bill User's Guide.
Log onto E-Bill to initiate a request for a refund check of your firm’s balance.
Note: The refund check will be made payable to the firm and mailed to the address of record. Most refund checks should be processed within 10 business days of receipt except during the annual renewal season.