IARD System Frequently Asked Questions - Renewal Program

  1. Will my firm's 2009 Preliminary and Final Renewal Statements be mailed to me?

    Renewal Statements are not mailed to firms that renew via IARD and Web CRD®. Both statements are available online via IARD for retrieval and printing. The Preliminary Renewal Statement will be available November 10, 2008. The Final Renewal Statement will be available on January 2, 2009.


  2. I logged onto IARD to retrieve my firm's Preliminary Renewal Statement, but there wasn't one available and the message on the screen read "A Renewal Statement does not exist for this organization." Why doesn't my firm have a statement?

    There are two possible explanations:

    • If your firm had a 'Pending Approval' status in IARD as of 11 p.m., ET, November 7, 2008, then a Preliminary Renewal Statement was not generated for your firm since an approved or transitioned registration status in IARD is required. However, a Final Renewal Statement will be generated for your firm if your firm becomes approved between November 10, and December 26, 2008. Your firm's renewal fees will be assessed and collected with your Final Renewal Statement, which becomes available January 2, 2009.
    • If your firm was registered with jurisdictions through paper filings and changed to electronic filing on IARD but did not submit a transition filing by 11 p.m., ET, November 4, 2008, then a Preliminary Renewal Statement was not generated for your firm since a transitioned or approved registration status in IARD is required. Transition filing functionality is unavailable from November 5, 2008, through January 1, 2009; therefore, your firm will not renew electronically and your firm should contact the jurisdictions with which it is registered for Renewal payment and processing.

  3. What is the deadline for submitting payment of my year 2009 Preliminary Renewal Statement?

    Full payment of your Preliminary Renewal Statement must be posted to your firm's FINRA Renewal Account by Friday, December 12, 2008, even if your firm intends to terminate additional IA representatives by December 31, 2008. Firms are encouraged to submit their electronic (i.e., Web E-pay, wire transfer) renewal payments no later than December 10 in order for payment to post to their Renewal Account by the December 12 deadline. Firms paying by check should account for US Mail processing time when sending payment.


  4. What Renewal payment methods are accepted?

    • Automatic Daily-to-Renewal Account Transfer
      To facilitate Renewal payment processing for all firms, FINRA will automatically transfer funds from a firm's Daily Account to its Renewal Account on December 12, 2008, the Preliminary Renewal Statement payment deadline. FINRA will transfer funds only if a firm has sufficient funds available in its Daily Account on December 12 to cover the amount. Please Note: If a firm does not want funds automatically transferred from its Daily Account to its Renewal Account, the firm should ensure that its payment is received in its Renewal Account by the December 12 deadline. Separately, if a firm wishes to transfer funds between affiliated firms, the firm should contact the IARD Call Center at (240) 386-4848 for further instructions prior to the renewal deadline.
    • Electronic Payment via Web E-Pay
    • Check
    • Wire Transfer

    View complete Renewal Payment instructions.


  5. To whom should a renewal payment check be made payable and mailed?

    Firms renewing electronically via IARD should make their checks payable to FINRA. As the operator of IARD, FINRA will collect Renewal Fees on behalf of the jurisdictions and then disburse the fees to the appropriate jurisdictions. The addresses to mail or overnight Renewal payment checks to FINRA are:

    US Mail Express/Overnight Delivery
    FINRA
    P.O. Box 7777-8705
    Philadelphia, PA 19175-8705

    Note: This P.O. Box will not accept courier or overnight deliveries.)     		FINRA
    8705
    Mellon Bank, Room 3490
    701 Market Street
    Philadelphia, PA 19106

    Phone number: (240) 386-4848
    Please note: The addresses provided here for Renewal Payments are different from the addresses for funding your firm's Daily Account.


  6. Will the amount of my Preliminary Renewal Statement change between November 10 and the payment deadline date of December 12, as I continue to request new registrations for individuals and/or submit Form U5 filings to terminate other individuals?

    No. Your Preliminary Renewal Statement is static and will not change. It is based on an extract of information from Web CRD/IARD as of 11 p.m., ET, November 7, 2008. Any amount changes for new and/or terminated registrations requested between November 10 and the system shutdown on December 26, will be reflected on your Final Renewal Statement, on January 2, 2009.


  7. If my Renewal Account status is "Sufficient," does that mean that I have paid my Renewal bill in full?

    Not necessarily. It only means that a payment towards your Preliminary Renewal Statement has been received. Your firm must pay the full amount.


  8. If I pay my Preliminary Renewal Statement in full, have I fulfilled all of my Renewal Fee obligations and completed the Renewal process?

    No. Since the Preliminary Renewal Statement is based on the registration statuses of your firm and its registered individuals and branches as of November 7, 2008, any changes to those statuses prior to year-end have not yet been considered for renewals purposes. Therefore, the renewal process is not complete until there is reconciliation on your firm's Final Renewal Statement, which will become available online on IARD January 2, 2009. For firms that have an amount due, FINRA should receive your payment no later than February 4, 2009. The Final Renewal Statement will list one of the following:

    • Zero balance due by your firm (no further action required by your firm)
    • An amount owed by your firm (send payment)
    • An amount to be refunded to your firm (amount automatically transferred to firm's Daily Account)

  9. How do I check to see that FINRA has received my Renewal Payment?

    You can query IARD to see if FINRA has received and processed your Renewal Payment:

    • Log onto IARD
    • From the Site Map, click on the 'Renewal Statement' link under the Accounting section
    • Click on 'Deposit Detail' under the Renewal Account Information menu
    • Enter a date range up to 31-day increments to search for the deposit
    • Select the 'Search' button

  10. How can I transfer money from my Daily Account to my Renewal Account?

    If your firm has the total amount in its Daily Account to cover the renewal statement amount due on December 12, 2008, then the funds will be automatically transferred from your Daily Account to the Renewal Account. Firms may have funds transferred earlier or between affiliated firms by calling the IARD Call Center at (240) 386-4848 to make the request. The entire Renewal Statement amount must be available in your firm's Daily Account to complete the transfer of funds.


  11. My investment adviser firm and broker-dealer firm have the same CRD Number. Am I considered a "joint" firm?

    Yes. Therefore, your online Preliminary and Final Renewal Statements will reflect your broker-dealer firm, broker-dealer representatives, investment adviser firm, and investment adviser representatives 2009 renewal fees.


  12. How do I obtain a report that shows a list of everyone at my firm who was included for renewals?

    This information is available as part of the "Firm Renewal Report" and is available as a PDF or a download file. To request this report, log onto IARD and click the Reports tab. Detailed instructions are provided in the 2009 Renewal Program Bulletin under the Renewal Reports section.


  13. Will my Firm Renewal Report be automatically generated and sent to me?

    No. Firms must request their Firm Renewal Reports via the Reports Tab in IARD. Detailed instructions are provided in this year's IARD Renewal Bulletin under the Renewal Reports section.


  14. My firm submitted a post-dated full Form U5 (with a termination date of 12/31/2008) for an individual by mistake. Can we withdraw or cancel that filing?

    No. The system will process all post-dated filings as they are submitted so they cannot be withdrawn or canceled once processed. If a post-dated full Form U5 is submitted by mistake, then a new Form U4 must be submitted some time on or after January 2, 2009, to re-register the IA representative. New registration fees will be assessed.


  15. My firm submitted a post-dated partial Form U5 (with a termination date of 12/31/2008) for an individual by mistake. Can we withdraw or cancel that filing?

    No. The system will process post-dated filings as they are submitted so they cannot be withdrawn or canceled once processed. If a post-dated partial Form U5 is submitted by mistake, then a Form U4 Amendment must be submitted some time on or after January 2, 2009, to re-request registration with those jurisdictions.


  16. What is the last day that I can submit an electronic form filing on IARD or Web CRD before year-end?

    Any electronic form filing (including Forms U4, U5, ADV, ADV-W, BR and Amendments) must be submitted to IARD and Web CRD by 6 p.m., ET, December 26, 2008. IARD and Web CRD will be unavailable for submission of any electronic filings after 6 p.m. on December 26, 2008. From Monday, December 29, 2008 until Wednesday, December 31, 2008, Web CRD/IARD will be available for query purposes only and to create 'Pending' filings, which may be submitted on or after January 2, 2009, when full system functionality resumes.
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