Last updated on: 3/14/2013
Every authorized firm in IARD has a financial account with FINRA, the FINRA Flex-Funding Account (currently known as the CRD/IARD Daily 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.
Effective March 18, 2013, firms will be able to use FINRA’s E-Bill system to fund their FINRA Flex-Funding Account. See the Account Payment Methods and Addresses section below for detailed information. Firms may continue to use the existing Web CRD/IARD E-Pay system to make electronic (ACH) payments to their Daily Account until June 17, 2013, when the Web CRD/IARD E-Pay link will be replaced by a link to E-Bill.
The following links provide a high-level overview of the IARD Accounting functionality and key terms. For more detailed information on IARD Accounting, please refer to the IARD Accounting Quick Reference Guide.
Daily Account vs. Renewal Account
Account Activity Report
Account Payment Methods and Addresses
Web CRD/IARD Funds Transfer Requests
How to Request a Refund From Your Account
- IARD and Web CRD provide firms and FINRA the ability to view detailed financial account information specific to your firm.
- IARD collects and disburses state registration and Notice Filing fees on behalf of the filer.
- IARD also collects IARD 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.
- Forms U4, U5 and BR are filed via the Web CRD system. Please visit the CRD Fees & Accounting page on the FINRA website 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 FINRA Flex-Funding Account (CRD/IARD Daily Account). Please ensure that adequate funds are on deposit each day to allow for registration transactions to occur in both systems.
Daily 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.
Daily Account vs. Renewal Account:
There are two types of financial accounts: Daily and Renewal.
- The Daily 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.
- Personalized Renewal Statements that outline the fees your firm owes will appear, online, in IARD.
- Visit the Renewal Program Web page for more information.
Account Activity Report:
- In order to access your firm's financial account activity, you will need to request your firm's Account Activity Report through the reports functionality in IARD.
- The monthly Account Activity Report can be requested during IARD's operating hours through the Reports tab or the Request Reports hyperlink under the Reports column on the Site Map.
- This report enables firms to request data for the previous month's Daily Account Activity.
- Complete the following steps to request the monthly Account Activity Report:
- Click on REQUEST REPORT
- Click on ACCOUNT ACTIVITY under the "Report Name" column
- Enter the Requester's initials
- Click on the SUBMIT button
- Note for Joint BD/IA Firms: Transactions will be listed as they were processed and will be identified by a BD/IA fee description.
Account Payment Methods and Addresses:
IA firms may submit their payments by:
- Electronic Payment via E-Bill or Web CRD/IARD E-Pay (effective June 17, 2013, the link to E-Pay will be replaced by E-Bill in Web CRD/IARD)
- Wire Transfer
- Check (Make checks payable to FINRA and be sure to indicate your firm's CRD number on the check)
- Web CRD/IARD Funds Transfer
Electronic Payment via E-Bill (available effective March 18, 2013):
allows entitled users to view and add funds to the FINRA Flex-Funding Account (CRD/IARD Daily Account). E-Bill is an online application that enables a firm to authorize electronic payment directly from its designated bank account to the firm's FINRA 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 – an E-Bill entitlement to grant access to Super Account Administrators, Account Administrators and firm users is available. Entitled users login using existing Web CRD/IARD user name and password. No additional login is required.
- Timely Payment to the FINRA Flex-Funding Account – Firms can use funds from successful transactions the next business day or 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.
Web CRD/IARD E-Pay (effective June 17, 2013 the link to E-Pay will be replaced by E-Bill in Web CRD/IARD):
Electronic payments (ACH payments) submitted by 8 p.m., Eastern Time (ET), should be posted within two business days to the firm’s account with FINRA.
Web CRD/IARD E-Pay allows a firm to authorize electronic payment directly from its designated bank account to the firm’s CRD/IARD Account. FINRA will not charge firms any fees for utilizing Web CRD/IARD E-Pay; however, firms should verify if their banks charge any additional fees. Enrollment is required to use this application.
Web CRD/IARD E-Pay Navigation Guide: Provides detailed instruction on how to enroll and use this payment method.
Payment by Wire Transfers:
- Wire Transfer Deposits received before 2 p.m., ET, should be posted in your account the next business day.
- Wire Transfer Deposits received after 2 p.m., ET, should be posted in your account within two business days.
IA firms may wire funds into their IARD Account:
- Provide your bank with the following information to initiate a wire transfer:
- Bank Name:
|BNY Mellon Financial Corporation
- ABA Number:
- FINRA Account Number:
- Reference Number:
|Firm CRD Number
- Inform your bank to credit funds to the FINRA bank account and use only your firm's CRD Number as a reference number.
- Please record your bank’s confirmation number for the wire transfer. You will need this if you choose to call your bank later to confirm the wire 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 wire 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 MELNUS3P.
Payment by Check:
Web CRD/IARD Funds Transfer Requests
To transfer funds between affiliated firms accounts, use the Web CRD/IARD Funds Transfer Request Form.
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How to Request a Refund from Your Account
Firms may choose to withdraw funds from their IARD Daily Account due to various circumstances (e.g., renewal refund, or account overfunding). To request a refund from your firm's account, send an email to FINRA Refunds
- Email must be sent from an appropriate firm signatory
- Reference the Firm CRD number
- Include requested refund amount
Please include the total balance of your firm’s IARD account for verification purposes in the email.
Note: The refund check will be made payable to the firm and mailed to the address of record. Most refund requests should be processed within 10 business days of receipt except during the annual renewal season.