Tip #5 for an Investment Adviser’s IARD Renewal – Final Renewal Statement

January 11, 2020

An investment adviser firm’s Final Renewal Statement reconciles what was charged on the Preliminary Renewal Statement with what is actually owed as the start of the new calendar year (January 1, 2020). The Final Renewal Statement confirms whether an investment adviser firm must pay an additional amount, received a refund (i.e. credit) to its Flex-Funding Account or is Paid-in Full.

The Final Renewal Statement is typically available for an investment adviser firm on the first business day of the new calendar year.  An investment adviser firm should check www.IARD.com for each year’s renewal program calendar for the exact date when the Final Renewal Statement will be available.  For 2020 renewals, the Final Renewal Statement will be available to an investment adviser firm on January 2, 2020.

When reviewing the Final Renewal Statement, an investment adviser firm should confirm whether the renewal fees have been paid in full or whether additional funds are required to be paid.  The investment adviser firm should also confirm that the investment adviser firm and its investment adviser representatives are properly registered or noticed filed in the applicable jurisdictions.

If the Final Renewal Statement indicates “Failed to Renew”, an investment adviser firm will need to contact immediately each applicable state securities regulator to determine what will be required by the state securities regulator.

If an investment adviser firm owes additional fees on the Final Renewal Statement, the investment adviser firm must pay by the Final Renewal Statement’s due date (for 2020 renewals, the due date is January 17, 2020).  An investment adviser firm should check www.IARD.com for each year’s renewal program calendar for the exact date when payments are due for the Final Renewal Statement.

Posted by Bryan Hill
Labels: IARD