IARD Firm System Processing Fees

Last updated on: 1/5/12

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.

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, 2012: During this period, the initial set-up fee will be waived for state registrants.

  • Annual Fee - This fee is assessed during the Annual Renewal Program, which begins November of each year.

    • For the 2012 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 ManagementInitial Set-Up FeeAnnual Fee
State Registrants $150
$0 (1/1/08 - 12/31/12) 		$100
$0 (2012 Renewals
11/14/11 - 12/31/11)

SEC Registrants and SEC Exempt Reporting Advisers:

The following fees are effective as of January 1, 2011 for SEC Registrants and October 28, 2011 for SEC Exempt Reporting Advisers:

  • Initial Set-Up Fee - This fee is charged when your firm submits its first electronic Form ADV.

  • 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.


Assets Under Management Initial Set-Up Fee Annual Fee
SEC Registrant
Under $25 Million		 $40 $40
SEC Registrant
$25 Million - $100 Million		 $150 $150
SEC Registrant
Over $100 Million		 $225 $225
SEC Exempt Reporting Adviser $150 $150

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