A list of state filing fees can be found on com or you can call the appropriate states securities authority for state filing fee information.
(Updated September 29, 2017) Q: I am a pension consultant who relies on Rule 203A-2(a) under the Investment Advisers Act of 1940 to register with the SEC. A: Your fees are based on regulatory assets under management, even if your regulatory assets under management are not the basis of your eligibility for SEC registration.
Investment advisers registered with the Commission or applying for registration with the Commission will still be subject to applicable state Notice Filing fees associated with any amendment or initial registration filing.
Exempt Reporting Advisers filing Annual Updating Amendments on or after November 7, 2011 will have to pay the Annual Updating Amendment fee.
SEC Exempt Reporting Advisers may be subject to applicable state fees associated with state registration and/or state reports.
However, you will pay your state Notice Filing fees through IARD when filing electronically. A: If you want a state to receive Notice Filings, check the box next to the appropriate state under Item 2C of Part 1A of Form ADV.
Q: I am a SEC-registered investment adviser and I need to make Notice Filings with another state. Most states charge advisers a filing fee for making Notice Filings with them.
Q: Why are we being charged filing fees for using IARD?
A: Filing fees are charged to cover the costs and maintenance of IARD.
Most state securities regulators require state registered investment advisor firms to maintain and enforce written procedures which set forth the procedures adopted by the firm in order to comply with the state’s rules and regulations and properly supervise its associated persons.
Firms registering as an investment advisor directly with a state securities regulator will likely be subject to a net worth/net capital and/or bonding requirement.
No fee is charged for electronically filing a final report.
The Commission has approved the initial report and annual IARD filing fees for Exempt Reporting Advisers filing reports with the Commission (see Release No. Exempt Reporting Advisers will have to pay the fee associated with their initial reports with the Commission filed on or after November 7, 2011.
Typically, the level of net worth, net capital or amount of bond is based on the procedures of the investment advisor firm.