2006 IARDSM Renewal Program Bulletin
www.iard.com/bulletin_2006renewal.asp

Last updated on: 10/11/05

This issue of the Bulletin is devoted to the 2006 IARD Renewal Program. It should provide you with the information you need to successfully renew your firm and IA representatives for 2006 by answering the following questions:

  1. What is the IARD Renewal Program?
    1. Update about Annual System Processing Fees
  2. Will my IA firm and IA representatives (RAs) renew electronically through the IARD Renewal Program?
  3. What is a Transition Filing and why should my firm care if the Transition Filing functionality is shutdown between November 15, 2005, and January 2, 2006?
  4. What is a post-dated form filing and why are these filings accepted during Renewals?
  5. How do I renew my IA firm and IA representatives electronically through IARD?
    1. Log into IARD
    2. Retrieve your firm's online Preliminary Renewal Statement in IARD on or after November 21, 2005
    3. Retrieve your firm's online Final Renewal Statement in IARD on or after January 3, 2006
  6. What is a Firm Renewal Report and what is it used for?
  7. What will happen if my firm fails to renew?
  8. What will be the IARD and Web CRD® System availability during the Renewal Processing Shutdown Period (from December 22, 2005 thru January 2, 2006)?
  9. Are there additional resources available that provide Renewal information?
    1. 2006 IARD Renewal Program Checklist
    2. 2006 IARD Renewal Program Advance Calendar - this calendar provides key dates and deadlines related to the Renewal Program
    3. IA Firm State Registration/Notice Filing Fee Schedule - lists all of the IA firm registration/renewal fees assessed by jurisdictions
    4. IA Representative State Registration Filing Fee Schedule - lists all of the IA representative registration/renewal fees assessed by jurisdictions
    5. IARD System Availability During November & December 2006
    6. Renewal Program Frequently Asked Questions (Will be available late October)
    7. North American Securities Administrators Association (NASAA) Web site

I. What is the IARD Renewal Program?

In order for an investment adviser firm to maintain active registrations and/or Notice Filing statuses with jurisdictions/states and for investment adviser representatives to maintain active registration statuses, firms must pay applicable Renewal Fees annually. The IARD Renewal Program facilitates the renewal of registrations/Notice Filings with jurisdictions that participate in IARD. As the operator of IARD, NASD collects the Renewal Fees of electronic IA filers and then disburses those fees to the appropriate jurisdictions. Additionally, the Renewal Program includes the collection of annual System Processing Fees for all IA representatives and state-registered IA firms.

A. Update about Annual System Processing Fees

For 2006 Renewals, NASAA is waiving the annual $100 System Processing Fee for IA firms and the annual $45 System Processing Fee for IA representatives. Additionally, for the 2007 Renewals and onward, NASAA is reducing the annual $100 System Processing Fee for IA firms by 30% to $70.

(Important Note to SEC-Registered IA Firms: The IARD Renewal Program facilitates the annual renewal of IA firms and their IA representatives' registrations/Notice Filings with jurisdictions/states. The program is not relevant to, and does not involve fees associated with a firm's SEC registration. For SEC-registered IA firms, the IARD Firm Annual Fee is due at the time the firm files its Annual Amendment Filing, which is within 90 days after the firm's fiscal year-end. The SEC has approved a waiver of IARD filing fees for all SEC-registered advisers with respect to Form ADV Annual Updating Amendments filed from November 1, 2005, through October 31, 2006.)

II. Will my IA firm and IA representatives (RAs) renew electronically through the IARD Renewal Program?

IA firms and IA representatives that meet one of the following conditions should be able to renew electronically via the IARD Renewal Program:

  1. "Approved" status as of November 18, 2005: IA firms and IA representatives with active "Approved" registration statuses in Web CRD/IARD by 11:00 p.m., Eastern Time (ET), November 18, 2005, will renew electronically and have a Preliminary Renewal Statement available on IARD beginning November 21, 2005.

  2. "Pending Approval" status as of November 18, 2005, and becomes "Approved" by December 21, 2005:

    • An IA firm with an "Approved" registration status in IARD but its IA representatives are "Pending Approval" in Web CRD as of 11 p.m., ET, November 18, 2005, will have a Preliminary Renewal Statement with only the IA firm's Renewal Fees assessed. If the firm's IA representatives are approved prior to 6 p.m., ET, December 21, 2005, they will also renew electronically by assessing the representatives' Renewal Fees on the firm's Final Renewal Statement which will become available January 3, 2006.

    • An IA firm and its IA representatives that are "Pending Approval" in Web CRD/IARD as of 11 p.m., ET, November 18, 2005, and are approved prior to 6 p.m., ET, December 21, 2005, will renew electronically. A Preliminary Renewal Statement will not have been generated since the statement is based on registration statuses as of 11 p.m., ET, November 18, 2005; however, the Renewal Fees for the IA firm and its IA representatives will be assessed on the firm's Final Renewal Statement which will become available January 3, 2006.

  3. "Transitioned" status as of November 14, 2005:

    • An IA firm and its IA representatives with "Transitioned" registration statuses in Web CRD/IARD by 11 p.m., ET, November 14, 2005, will be included in the firm's online Preliminary Renewal Statement in IARD, which will be available beginning November 21, 2005.

    • A Transition Filing submitted by 11 p.m., ET, November 14, 2005, for an IA firm but not the firm's IA representatives will only enable the firm to renew electronically. An online Preliminary Renewal Statement will be available assessing the firm's 2006 Renewal Fees. In this case, the firm should contact jurisdictions directly for the renewal payment and processing of the firm's IA representatives.

III. What is a Transition Filing and why should my firm care if the Transition Filing functionality is shutdown between November 15, 2005, and January 2, 2006?

Transition Filings are only submitted for IA firms and IA representatives that are currently registered with jurisdictions/states through paper filings and are changing to electronic filing. A Transition Filing is submitted to establish an electronic record in IARD/Web CRD of a firm or representative's existing approved registration statuses. IA firms or IA representatives registered through paper filings that have not submitted an electronic Transition Filing by 11 p.m., ET, November 14, 2005, will not be able to renew electronically through IARD and should contact jurisdictions directly for renewal payment and processing. The Transition Filing functionality will be unavailable between November 15, 2005, and January 2, 2006, to allow for Renewal processing.

IV. What is a post-dated form filing and why are these filings accepted during Renewals?

A post-dated full or partial Form ADV-W or Form U5 is a filing that is submitted with a termination date of December 31, 2005, which enables an IA firm or its IA representatives to maintain some or all of their registrations until the end of the calendar year.

  • Types of Post-Dated Termination Filings:

    • A Post-Dated Form ADV-W: Beginning November 1, 2005, firms may submit a full or partial post-dated Form ADV-W with a termination date of December 31, 2005, which will allow an IA firm to maintain its registration(s) and continue doing business as an adviser until the end of the calendar year. The only termination date that may be entered for a post-dated Form ADV-W is December 31, 2005.
    • A Post-Dated Form U5: Beginning November 7, 2005, firms may submit a full or partial post-dated Form U5 with a termination date of December 31, 2005, which will allow an IA representative to maintain his/her registration(s) and continue doing business until the end of the calendar year. The only termination date that may be entered for a post-dated Form U5 is December 31, 2005.

  • Period In Which Post-Dated Termination Filings Will Be Accepted:

    • November 1 - November 18, 2005: Post-dated Form ADV-W termination filings submitted during this period will ensure the IA firm is not assessed Renewal Fees on the firm's Preliminary Renewal Statement for those registrations that will be terminated at year-end.
    • November 7 - November 18, 2005: Post-dated Form U5 termination filings submitted during this period will ensure the IA firm is not assessed Renewal Fees on the firm's Preliminary Renewal Statement for those registrations that will be terminated at year-end.
    • November 21 - December 21, 2005: Post-dated Forms U5 or ADV-W termination filings submitted during this period will ensure that the IA firm is refunded for any Renewal Fees assessed for those registrations that will be terminated at year-end. On January 3, 2006, any overpayment amounts of Preliminary Renewal Statements will be credited to firms' Daily Accounts and refund requests can then be made from those accounts.

  • Post-Dated Termination Filings Cannot Be Withdrawn

    Firms should exercise care when filing post-dated Forms U5 or ADV-W since Web CRD and IARD will process these filings as they are submitted and cannot be withdrawn once filed.

    • If a post-dated full Form U5 or ADV-W has been submitted but the firm decides it does not want to terminate registration, then a new Form U4 or ADV must be submitted on or after January 3, 2006, to re-register the IA representative or firm. All applicable registration fees will be assessed.
    • If a post-dated partial Form U5 or ADV-W has been submitted but the firm decides it does not want to terminate those registrations, then a Form U4 Amendment, ADV Amendment, or ADV, as appropriate, must be submitted on or after January 3, 2006, to re-request registration. All applicable registration fees will be assessed.

V. How do I renew my IA firm and IA representatives electronically through IARD?

A. Log into IARD/Web CRD

Users of IARD and Web CRD must have a valid system user account with a user ID and password in order to access either, or both systems. Contact your firm's account administrator if you would like to establish a user account. If you have a User ID but have forgotten your password, click on the "Forgot Password?" link that is on the login page for IARD/Web CRD and provide the information requested. Once you have provided the information requested, you will be emailed a new temporary password that you may use to log into IARD/Web CRD.

B. Retrieve your firm's online Preliminary Renewal Statement in IARD

Preliminary Renewal Statements will be available online for retrieval and printing via IARD beginning November 21, 2005, for IA firms and their IA representatives with approved or transitioned registration statuses in Web CRD/IARD as of 11 p.m., ET, November 18, 2005. NASD must receive full payment of your firm's Preliminary Renewal Statement by Wednesday, December 14, 2005.

To retrieve your firm's Preliminary Renewal Statement:

  1. Log into IARD at https://crd.nasd.com/iad or Web CRD at https://crd.nasd.com
  2. You will be required to enter your User ID and Password.
  3. Review and accept the terms and conditions. (The system will then display the Site Map.)
  4. From the Site Map, click on the 'Renewal Statement' link under the 'Accounting' section.
  5. Print the statement. (A copy of the statement's first page should be included with any check payment.)
  6. NASD must receive full payment of your firm's Preliminary Renewal Statement by Wednesday, December 14, 2005. Sending only a partial payment may cause your firm and representatives to fail to renew.
    • All payment methods may take up to two business days to process. Therefore, December 12, 2005, is the last day to send electronic payment via Web CRD/IARD E-Pay, overnight check payments, wire transfers, or transfer funds from your firm's Daily Account to its Renewal Account to ensure the funds post to your firm's Renewal Account by the December 14th deadline.

The statement will reflect the total amount due for the following approved or transitioned registration statuses in Web CRD/IARD as of November 19, 2005:

  • The IA firm's approved or transitioned registrations and/or Notice Filings and the Renewal Fees due in order to maintain registrations/Notice Filings with those jurisdictions.
  • The IA representatives of the firm and their approved or transitioned registrations and the Renewal Fees due in order to maintain registrations with those jurisdictions.
  • For 2006 Renewals, NASAA is waiving the annual $100 System Processing Fee for IA firms and the annual $45 System Processing Fee for IA representatives. Additionally, for the 2007 Renewals and onward, NASAA is reducing the annual $100 System Processing Fee for IA firms by 30% to $70.

Pay your firm's Preliminary Renewal Statement by the December 14, 2005 receipt deadline

Keep in mind that there is an increased volume of accounting transactions during the Renewal season, particularly to fund firm Renewal Accounts. Please be sure to allow sufficient time for deposited funds to be processed and reflected in your firm's Renewal Account by the December 14, 2005 deadline.

Acceptable Renewal Payment Methods:

Electronic Payment via Web CRD/IARD E-Pay
Check
Wire Transfer
Transfer of funds from the firm’s Daily Account to its Renewal Account

  • Electronic Payment via Web CRD/IARD E-Pay:

    Electronic payments (ACH payments) that are submitted by 8:30 p.m., ET, should be posted within two business days to a firm's Renewal Account with NASD.

    Web CRD/IARD E-Pay, allows a firm to authorize electronic payment directly from its designated bank account to the firm's Renewal Account. NASD does not charge firms any fees for utilizing Web CRD/IARD E-Pay. Firms should verify with their banks whether ACH transaction fees are assessed by the bank for using Web CRD/IARD E-Pay. Enrollment is required to use the Web CRD/IARD E-Pay application. The Web CRD/IARD E-Pay hyperlink can be found in your firm's online Preliminary and Final Renewal Statements as well as this Site. A Web CRD/IARD E-Pay Navigation Guide that provides detailed instructions on how to enroll and use the Web CRD/IARD E-Pay payment method is also available on this Site.

  • Payment by Check:

    • While NASD makes every attempt to process checks within one business day, processing of check payments may take up to two business days.
    • Print and enclose a copy of the first page of your online Renewal Statement.
    • Have your firm's CRD Number and the word "Renewals" written on the face of the check. This is important to ensure that your funds are properly credited to your Renewal Account.

    Send Renewal Check Payments To:

    • The addresses provided for Renewal check payments are DIFFERENT from the addresses for funding your firm's Daily Account.
    • Make sure you copy the appropriate address exactly as it appears below. If you exclude any of the information, it may delay the receipt of your payment.
    • Send ALL RENEWAL PAYMENT CHECKS directly to:

      US Mail Express/
      Overnight Delivery
      NASD, CRD-IARD
      P.O. Box 7777-W8705
      Philadelphia, PA 19175-8705

      (Note: This address will not accept courier
      or overnight deliveries.)

      		 NASD, CRD-IARD
      W-8705
      701 Market Street 199-3490
      Philadelphia, PA 19106
      Phone number: (240) 386-4848

  • Payment by Wire Transfers:

    IA firms may wire funds into their IARD Renewal Account.

    • Wire payments sent by 2:00 p.m., ET, should post the next business day. Wire payments sent after 2:00 p.m., ET, may take up to two business days to post to your Renewal Account.
    • Instruct your IA firm's bank to contact: "Mellon Financial, Philadelphia, PA."
    • Provide your bank with the following information to initiate a wire transfer:

      ABA Number: 031 000 037
      Beneficiary: NASD
      NASD Account Number: 8-234-353
      Reference Number: Your Firm's CRD Number and the word "Renewals"

    • Remember to inform your bank that funds are to be credited to the NASD Bank Account and to use your firm's CRD Number and the word "Renewals" as a reference only.
    • Please record the Confirmation Number of the wire transfer given to you by your bank. You will need this if you choose to call your bank later to confirm the wire transfer.

    If you send your wire transfer by 2:00 p.m., ET, your IA firm may confirm receipt of the wire payment by NASD the next business day by checking your Renewal Account online or calling the IARD Call Center at (240) 386-4848. Please have the Confirmation Number of the wire transfer provided to you by your bank.

  • Payment by transfer of funds from the firm's Daily Account to its Renewal Account:

    If the firm has funds available in its Daily (Registration) Account to cover the total amount due on either its Preliminary or Final Renewal Statement, the funds may be transferred to the firm's Renewal Account. Please allow at least two business days for the funds to process and post to the firm's Renewal Account. Firms should request this transfer by calling the IARD Call Center at (240) 386-4848.

C. Retrieve your firm's online Final Renewal Statement in IARD on or after January 3, 2006

Beginning January 3, 2006, online Final Renewal Statements for investment advisers will be available in IARD. These statements will reflect the final registration statuses of your IA firm and IA representatives as of December 31, 2005. Any adjustments as a result of registration approvals or terminations subsequent to the Preliminary Renewal Statement will be made in this final reconciled statement. If your firm's statement shows an amount due then NASD must receive full payment of your firm's Final Renewal Statement by February 3, 2006.

To retrieve your firm's Final Renewal Statement:

  1. Log into IARD at https://crd.nasd.com/iad or Web CRD at https://crd.nasd.com
  2. You will be required to enter your User ID and Password.
  3. Review and accept the terms and conditions. (The system will then display the Site Map.)
  4. From the Site Map, click on the 'Renewal Statement' link under the 'Accounting' section.
  5. The total adjusted amount on your firm's Final Renewal Statement will display either 'Paid In Full' or an 'Amount Due.'
    • If your statement shows an 'Amount Due' (i.e., positive amount or debit balance), then your firm needs to pay the balance to NASD by February 3, 2006.
      • Print the statement. (A copy of the statement's first page should be included with any check payment.)
      • Acceptable Renewal Payment Methods listed previously for Preliminary Renewal Statement payment are also accepted for payment of your Final Renewal Statement.
    • If the 'Paid In Full' amount on your firm's Final Renewal Statement is less than the amount your firm paid for its Preliminary Renewal Statement then your overpayment has been systematically transferred to your firm's Daily Account. Any refunds should be requested from that account.

The statement will reflect the total adjusted amount for approved or terminated registration statuses in Web CRD/IARD as of December 31, 2005:

  • The jurisdictions with which the firm is registered and the amount paid to jurisdictions to renew those registrations/Notice Filings.
  • The number of IA representatives with approved registrations with jurisdictions and the amount paid to renew those registrations.
  • Renewal Fees owed by your IA firm for any firm or representative registrations that were approved after the Preliminary Renewal Statement was generated but prior to system shutdown on December 21, 2005.
  • For 2006 Renewals, NASAA is waiving the annual $100 System Processing Fee for IA firms and the annual $45 System Processing Fee for IA representatives. Additionally, for the 2007 Renewals and onward, NASAA is reducing the annual $100 System Processing Fee for IA firms by 30% to $70.

Request a refund for an overpayment of Renewal Fees:

In conjunction with Renewal processing, all 2006 Renewal overpayments by firms made to NASD will systematically be transferred to the firms' Daily Accounts. Firms may leave the funds in their Daily Accounts to use for future registration fees or request refund checks from NASD from their Daily Accounts. To request a refund check, have an appropriate signatory sign the first page of the Final Renewal Statement and mail it to NASD by February 3, 2006.

Send Renewal Refund requests to:

NASD
Decoverly
Registration Management-CRD Accounting
9509 Key West Avenue
Rockville, MD 20850
(240) 386-4848

Report any discrepancies on your firm's Final Renewal Statement by February 3, 2006:

If your firm believes there are discrepancies on your Final Renewal Statement, report them in writing directly to NASD by February 3, 2006. Along with your letter describing the discrepancy, please include a copy of your Final Renewal Statement and any supporting documentation such as Forms U4, U5, ADV, ADV-W, or Amendment Filings.

Send Final Renewal Statement Discrepancy letters to:

NASD
Decoverly
Registration Management-Research
9509 Key West Avenue
Rockville, MD 20850
(240) 386-4848

VI. What is a Firm Renewal Report and what is it used for?

A Firm Renewal Report is sorted by regulator and lists all of your firm's IA representatives with approved registration statuses in Web CRD. Firms should use the report to verify the number of IA representatives and their approved registration statuses for which the firm is being assessed 2006 Renewal Fees.

  • Preliminary Firm Renewal Reports:

    On or after November 21, 2005, firms may begin to request, print, and/or download their Preliminary Firm Renewal Reports. Beginning January 3, 2006, the preliminary information will be updated and populated in the Final Firm Renewal Report.

  • Final Firm Renewal Reports:

    On or after January 3, 2006, firms may begin to request, print, and/or download their Final Firm Renewal Reports.

  • To request either a Preliminary or Final Firm Renewal Report via IARD, follow these steps:

    1. Log into IARD at the following address: https://crd.nasd.com/iad or Web CRD at https://crd.nasd.com
    2. You will be required to enter your User ID and Password.
    3. Review and accept the terms and conditions. (The system will then display the Site Map.)
    4. From the Site Map, click on the "Request Reports" under the "Reports" section (if you do not have entitlement to see the Reports Tab, please contact your Account Administrator).
    5. Click on the "Renewals - Firm Renewal Report" hyperlink. {A form will open up and you will need to submit all required information for fields with an asterisk (*) next to them.}
    6. Click the Submit Button. (You will receive a Report ID Number. Record this number for reference when you view your report.)
    7. Most reports will be available to view shortly after you submit your request.

  • To view the report once it is available:

    1. From the Site Map, click on the "View Report" link under the "Reports" section (A new browser window will appear that will list all of the reports that you have requested).
    2. Click on the hyperlink for the report. (The Report ID Number will be listed as a hyperlink in the 'Request #' column. The link will either open the report in the browser window or prompt you to save the document to your computer depending on the type of report that you requested.)

  • Firm Renewal Report Download:

    The Firm Renewal Download is a downloadable report of all individuals who are eligible for renewal or were renewed for the firm. Download reports are usually requested by large firms that plan to import the downloadable data into a spreadsheet or database in order to format or sort the data differently. Your firm will be able to download this report from View Reports (Reports Tab). After downloading the report, firms may need an application to unzip the file. There are no fees associated with this report request. Detailed instructions are available on how to download this report.

  • Please note the following regarding reports:

    • The 'RA Discount Fee' is only applicable to an individual that is both an IA representative (RA) and a broker/dealer agent (AG).
    • Some reports may take longer than others to appear in View Reports. (If you do not see your report when you first go into View Reports, please check back in another 15 to 20 minutes.)
    • Reports will expire after a certain amount of time. The length of time each report remains in your ReportMart is detailed in the Glossary for your reference.

VII. What will happen if my firm fails to renew?

An IA firm that has an online Preliminary Renewal Statement and does not pay it in full, will have all of its IA representatives' (RAs) registrations with jurisdictions terminated effective December 31, 2005. Additionally, your IA firm's registration/Notice Filings with jurisdictions will be terminated effective December 31, 2005, if your firm was registered/Noticed Filed in a jurisdiction that participates in the IARD Automatic Failure To Renew Program. This program provides jurisdictions the ability to authorize NASD to systematically terminate the firm's registration, on behalf of the jurisdiction, with a termination date of December 31, 2005, if the firm fails to pay the full amount of its online Preliminary Renewal Statement. If this should occur, firms are advised to contact each jurisdiction directly to determine the appropriate reinstatement procedures.

NOTE: An IA firm and its IA representatives that are approved between November 19 and December 21, 2005, will have their applicable Renewal Fees assessed and collected in the firm's online Final Renewal Statement, which will be available on IARD beginning January 3, 2006. These firms will neither have an online Preliminary Renewal Statement nor will they automatically fail to renew on December 31, 2005.

Please be advised that many jurisdictions levy fines for failure to renew properly. A complete list of each state office's contact information is provided on the NASAA Web site IA State Directory.

The following jurisdictions are participating in the Automatic Fail To Renew Program for 2006 (current as of October 4, 2005):

Jurisdictions Participating In Auto Fail To Renew
Alabama Massachusetts Oklahoma
Arkansas Michigan Oregon
California Minnesota Puerto Rico
Delaware Mississippi Rhode Island
Dist of Columbia Missouri South Dakota
Florida Montana Texas
Georgia Nebraska Utah
Hawaii Nevada Vermont
Indiana New Jersey Virginia
Kentucky New Mexico Washington
Louisiana North Carolina West Virginia
Maine North Dakota Wisconsin
Maryland Ohio  

VIII. What will be the IARD and Web CRD System Availability during the Renewal Processing Shutdown period (from December 22, 2005 thru January 2, 2006)?

Remember that no Web CRD/IARD System processing will occur between December 22, 2005, and January 3, 2006. During the shutdown period, the system will be available for your firm to query the system and create Pending form filings but you will not be able to submit them until January 3, 2006, when full system functionality becomes available again. Please refer to the 2006 IARD Renewal Program Calendar for important Renewal dates and deadlines. IARD is available Monday through Friday from 7:00 a.m., Eastern Time (ET), to 11:00 p.m., ET, unless otherwise noted. Additionally, shown here are the days and hours IARD and Web CRD are available on weekends and holidays for querying and creating Pending filings during the shutdown.

PLEASE NOTE: Availability dates are subject to change. Please check the System Availability Schedule and IARD Broadcast Message regularly for updates or changes.

November 2005

Date

Status

Comment
Saturday, November 5, 2005 Available 8:00 a.m. - 6:00 p.m., ET
Saturday, November 12, 2005 Available 8:00 a.m. - 6:00 p.m., ET
Saturday, November 19, 2005 Unavailable Preliminary Renewal Invoice Processing
Thursday, November 24, 2005 Unavailable Holiday - Thanksgiving Day
Friday, November 25, 20051 Available 7:00 a.m. - 6:00 p.m., ET
Saturday, November 26, 2005 Unavailable Holiday Weekend

December 2005

Date

Status

Comment
Saturday, December 3, 2005 Available 8:00 a.m. - 6:00 p.m., ET
Saturday, December 10, 2005 Available 8:00 a.m. - 6:00 p.m., ET
Saturday, December 17, 2005 Available 8:00 a.m. - 6:00 p.m., ET
Wednesday, December 21, 20052 Available 7:00 a.m. - 6:00 p.m., ET
Thursday, December 22, 2005 through Friday, December 23, 20053 Available 7:00 a.m. - 11:00 p.m., ET - Query Only Access
Saturday, December 24, 2005 Unavailable Holiday - Christmas Eve
Monday December 26, 2005 Unavailable Holiday - Christmas (observed)
Tuesday, December 27, 2005 through Friday, December 30, 20053 Available 7:00 a.m. - 11:00 p.m., ET - Query Only Access
Saturday, December 31, 2005 Unavailable Holiday Weekend

1 System available with limited technical support from 2:00 p.m. - 6:00 p.m., ET

2 WebEFT form filing deadline is 2:00 p.m., ET

3 Query only access Thursday, December 22nd through Friday, December 30th.

IX. Additional resources available that provide Renewal information

2006 IARD Renewal Program Calendar (as of 10/07/05)

October 2005
11 DEADLINE for firms to request that NASD execute a mass transfer in 2005. There will be a moratorium on mass transfers from October 25, 2005, through January 2006 due to 2006 Renewal Program processing and enhancements to the Mass Transfer Program. Please note that NASD must receive notification of a mass transfer 15 days prior to its effective date, therefore, no mass transfers may be requested after October 11, 2005. Firms are advised to plan accordingly. (A Mass Transfer is used to programmatically transfer individuals and their registrations from one firm to another firm when firms are involved in mergers, acquisitions, successions and consolidations.)
November 2005
1 Firms may begin to submit post-dated ADV-W via IARD. All post-dated forms must be dated 12/31/05.
7 Firms may begin to submit post-dated Forms U5 via Web CRD. All post-dated forms must be dated 12/31/05.
14 ALL Transition Filing functionality for investment advisers will be shutdown at 11:00 p.m., Eastern Time (ET) and WILL NOT be available until 7.am., ET, on January 3, 2006.
19 NASD runs extract of PRELIMINARY Renewal Statements.
21 PRELIMINARY Renewal Statements and Reports are available via Web CRD/IARD for viewing and printing.
December 2005
14 PRELIMINARY STATEMENT PAYMENT DEADLINE: All firm Preliminary Renewal Statement payments must be posted to Renewal Accounts by December 14, 2005. It is recommended that firms submit payment no later than December 12, 2005, to ensure that payment is processed by the December 14, 2005, deadline.
21 2:00 p.m., (E.T.), DEADLINE for submission of all EFT (electronic file transfer) filings.

6:00 p.m., (E.T.), DEADLINE for submission of all electronic form filings (including Forms U5, BDW, ADV-W, ADV Amendment and BR Closing/Withdraw) via Web CRD and/or IARD.
22 NASD extracts FINAL Renewal Statement data from Web CRD/IARD database.
22-23 Web CRD/IARD available for QUERY-only and the creation of "Pending" filings.

Transition Filing functionality remains unavailable until 01/02/06.
24-26 Web CRD/IARD not available due to Holiday schedule.
27-30 Web CRD/IARD available for QUERY-only and the creation of "Pending" filings.

Transition Filing functionality remains unavailable until 01/02/06.
30 2006 Renewal Payments sent to all regulators participating in the 2006 IARD Renewal Program.
31 Web CRD/IARD not available due to Holiday schedule.
January 2006
1-2 Web CRD/IARD not available due to New Year's Holiday.
3 Web CRD/IARD systems' complete functionality resumes as of 7:00 a.m., (E.T.).

  • All form filing functionality is available.
  • Broker-Dealers, Investment Adviser Firms, Registered Representatives and Registered Advisers may be approved or terminated at this time.
  • All 2006 Renewal overpayments transferred to firms' Daily (Registration) Accounts. Refund requests will be made from this account.

FINAL Renewal Statements and Reports are available via Web CRD/IARD for viewing and printing.

February 2006
3 FINAL RENEWAL STATEMENT PAYMENT DEADLINE: All Final Renewal Statement payments must be posted to Renewal Accounts by February 3, 2006. It is recommended that firms submit payment no later than February 1, 2006, to ensure that payment is processed by the February 3, 2006, deadline.

Deadline for reporting Renewal discrepancies.
4 NASD runs extract for PAST DUE Renewal Statements.
6 PAST DUE Renewal Statements are available via Web CRD/IARD for viewing and printing.
March 2006
3 PAST DUE RENEWAL PAYMENT DEADLINE: All Past Due Renewal Statement payments must be posted to Renewal Accounts by March 3, 2006. It is recommended that firms submit payment no later than March 1, 2006, to ensure that payment is processed by the March 3, 2006, deadline.

Questions?

For questions regarding the IARD Renewal Program, please call the IARD Call Center at (240) 386-4848 or send an email to webiard@nasd.com.