IARD Firm System Processing Fees

Last updated on: 10/23/08

In order for a firm to use the IARD system, a firm must set up an IARD User Account with FINRA and deposit funds into its IARD financial (daily) account before filing electronically. In addition to system fees, your firm may also be assessed state registration and/or notice filing fees for the firm and/or representatives. For Form ADV filings, your firm must have enough funds on deposit to cover any applicable fees so that the form filing(s) can pass the automated system completeness checks and be submitted. Please check the firm fee schedule and representative fee schedule for applicable registration fee information. Also visit the IARD Accounting page for more detailed information on managing your firm's daily and renewal accounts.

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IARD Firm System Processing Fees:

The following system fees are assessed for the electronic filing of forms for IA firm registration on the IARD system. In addition to these system fees, firms are charged for applicable state registration/Notice Filing fees.

State Registrants:

• Initial Set-Up Fee - This fee is charged when your firm submits its first electronic Form ADV.
  
  
  • January 1, 2008 - December 31, 2009: During this period, state registrants will be waived this initial set-up fee.
    
    
• Annual Fee - This fee is assessed during the Annual Renewal Program, which begins November of each year.
  
  
  • For the 2009 Renewal Program, NASAA is waiving the annual $100 system processing fee for IA firms. NASAA is also waiving the $45 annual system processing fee for IA representatives.

Assets Under Management	Initial Set-Up Fee	Annual Fee
State Registrants	$150 $0 (01/01/08 - 12/31/09)	$100 $0 (2009 Renewals 11/10/08 - 12/31/08)

SEC Registrants:

• Initial Set-Up Fee - This fee is charged when your firm submits its first electronic Form ADV.
  
  
  • November 1, 2006 - July 2009: During this period, SEC registrants will be waived this initial set-up fee for Forms ADV filed electronically.
    
    
• Annual Fee - This fee is charged at the time your firm submits its Annual Amendment, which is due within 90 days following the end of your firm's fiscal year.
  
  
  • November 1, 2006 - July 2009: During this period, SEC registrants will be waived this annual system processing fee for Form ADV Annual Updating Amendments filed electronically.

Assets Under Management	Initial Set-Up Fee	Annual Fee
SEC Registrant Under $25 Million	$150 $0 (11/01/06 - 07/09)	$100 $0 (11/01/06 - 07/09)
SEC Registrant $25 Million - $100 Million	$800 $0 (11/01/06 - 07/09)	$400 $0 (11/01/06 - 07/09)
SEC Registrant Over $100 Million	$1100 $0 (11/01/06 - 07/09)	$550 $0 (11/01/06 - 07/09)

Links to additional information:

• For more information regarding the IA system fee reductions and waivers for state registrants please read the press release on the NASAA Web site.
  
  
• For more information regarding the IA system fee waivers for SEC registrants please read the press release on the SEC Web site.

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