CCO Reviewing Investment Adviser Firm's Renewal Statement.

Navigating the Preliminary Renewal Statement for Investment Advisers

November 11, 2023

Reading time : 5 minutes

Understanding and Managing Your Firm’s Preliminary Renewal Statement

As we approach the end of the year, it is crucial for investment adviser firms to review their 2024 Preliminary Renewal Statements, which are now accessible through their IARD accounts. This statement is an overview of the firm’s current registration status and the associated renewal fees. Let us delve into the specifics of this renewal statement and its implications for your investment adviser firm.

Components of the Preliminary Renewal Statement

The Preliminary Renewal Statement includes several key elements:

  • System Processing Fees: These are standard charges applicable to all firms.
  • State Registration & Notice Filing Renewals: Fees for maintaining state registrations, notice filings, or exempt reporting statuses.
  • Branch Registration Renewals: Fees associated with the renewal of branch registrations in various jurisdictions.
  • Investment Adviser Representative (IAR) Renewals: Fees for the renewal of IAR registrations across applicable jurisdictions.

The Preliminary Renewal Statement reflects all current registrations and notice filings for which no Post-Dated Termination filings have been submitted by the investment adviser firm as of the Preliminary Renewal Statement’s issuance date.

Reviewing Preliminary Renewal Statement

When reviewing the Preliminary Renewal Statement, the investment adviser firm should consider where the firm and its investment adviser representatives are required to register or notice file. The investment adviser firm will need to compile a list of the firm’s current investment advisory clients (sorted by the client’s state of residence), a list where the firm maintains a place of business or holds itself out as maintaining a place of business, and a list for each representative’s places of business. The investment adviser firm will then analyze the requirements of the applicable jurisdictions against this set of data. Based upon this analysis, the investment adviser firm will make any necessary filings to add or remove registrations or notice filings with applicable states.

Accessing the IARD Renewal Program Calendar

For the latest information and deadlines, investment adviser firms should refer to the IARD Renewal Program Calendar. This resource offers crucial dates and guidelines for the renewal process and can be easily accessed online.

Timeline and Process for Withdrawals and Refunds

Filing Withdrawal Requests: To be eligible for a refund in the Final Renewal Statement, investment adviser firms must file a Post-Dated Termination Notice via the IARD system. The deadline for this filing is the last day of the calendar year for IARD filings. For instance, for calendar year 2024, the deadline is 6:00 p.m. Eastern U.S. on Tuesday, December 26, 2023.

No Pro-Rata Refunds: It is important to note that partial or pro-rata refunds are not issued for withdrawing a registration or removing a notice filing on or after the first business day of the new calendar year (January 2, 2024, for calendar year 2024)

Form U5, Form ADV-W or Form ADV Amendment Filings: Even if a firm files a Form U5 or Form ADV-W to withdraw a state registration or amends the Form ADV to remove a notice filing in a state, the full amount of the Preliminary Renewal Statement must still be paid by the due date (Monday, December 11, 2023, for calendar year 2024). Credits for any refunds will only be reflected in the Final Renewal Statement.

Available to Assist with Your Renewals

RIA Compliance Consultants can assist you with the renewal process. If you are an existing client of RIA Compliance Consultants, please contact your consultant to discuss how we can assist you. If you have not previously worked with RIA Compliance Consultants, please click here to learn more about our 2024 IARD Renewal and Form ADV Annual Amendment Services, or contact our business development team at


The Preliminary Renewal Statement is a pivotal document for an investment adviser firm’s compliance, encapsulating the registrations being renewed for the upcoming year. Firms should thoroughly review this statement to ensure proper registration and to make informed decisions about potential terminations for fee refunds. Remember, attention to the details and timely action are the keys to effectively managing your investment adviser firm’s renewal process.

Related Resources

2024 Preliminary Renewal Statements Are Available for Investment Advisers (11/7/2023)

Failure to Properly Renew Registration May Result in Adverse Consequences for Investment Advisers (10/29/2023)

2024 IARD Renewal & Form ADV Annual Amendment Services

An Investment Adviser Firm’s IARD Renewals

IARD – Annual IARD Renewal Tips Checklist


The information contained in this blog post is general in nature intended for educational purposes only and is not intended to be a comprehensive analysis of this topic. This is merely a summary and does not necessarily include all topics covered in the regulator’s guidance. RIA Compliance Consultants, Inc. is not offering any safe harbor, guarantees nor other assurances associated with the example questions that an examiner may consider related to informed consent. The content of this blog post may become dated and inaccurate; RIA Compliance Consultants, Inc. does not typically update past posts.  This post is not intended to constitute compliance consulting advice or apply to any particular investment adviser firm’s specific situation. Please consult the applicable securities regulator’s order, rules and published guidance for more details about the topics referenced above.  RIA Compliance Consultants, Inc. is not a law firm and does not provide legal services. For more information about the limitations of this blog post and information on our website, please see our Disclosures webpage.

Posted by Bryan Hill
Labels: IAR Licensing, IARD