CRD Frequently Asked Questions

Accounting

 

Understanding Your Web CRD/IARD Account
 
1. How do I determine the amount needed to clear my firm's "Deficient" account status?
Log onto Web CRD and select the Accounting Tab (your user account must be entitled to the Accounting privilege in order to access this tab). Once you have accessed the firm's account, the page displays a "Current Amount Due" that will include all processed or funds deficient transactions.
 
2. My firm's account is showing a deficient balance. Will the registration request I submit still be accepted?
Yes, your firm will still be able to submit the form filing in Web CRD; however, a deficient account status will prevent a registration request from being approved or an exam window from opening.

 

3. Where can I find a detailed monthly accounting report?
Firms can request the Account Activity Report from the available reports in Web CRD and retrieve financial activity for up to the previous 13 months. This information is available as a report or a download. For additional information on Reports available through Web CRD, refer to the Reports Chapter of the Web CRD User's Manual or the instructions on How to Download a Report page.
 
4. How can I find specific charges related to an individual associated with my firm?
To find specific charges related to an individual, entitled users can select the Bill Line Search hyperlink query from the Site Map or in the Accounting section's navigation panel. Users can then search for specific transactions by CRD# or other criteria, but all searches must include a date range.
 
5. I work for a joint broker-dealer/investment adviser (BD/IA) firm. Do we have separate Web CRD/IARD accounts for registration requests?
No. A joint BD/IA firm has one shared registration account and the system deducts transactions for BD and IA registration requests from that one account. Transactions through Web CRD or IARD can be easily identified in a Transaction Detail Query and the Monthly Account Activity Report. Funds deposited to the shared Daily Account will be available for all filings made.

 

6. How are fees processed for Simultaneous Filing Group firms (applicable only to joint BD/IA firms)?
The primary Simultaneous Filing Group (SFG) firm pays all FINRA fees, regardless of which SFG firm submits the filing. These fees include FINRA registration fees, exam fees, and fingerprint processing fees (if applicable). Each firm pays their own state registration fees and other non-FINRA fees.
 
7. How are fees processed for affiliated firms (firms not a part of a Simultaneous Filing Group)?
Each firm pays its own fees. The exception is that only the filing firm pays fees related to exams and fingerprints (if applicable).

 

8. What is the System Processing Fee for transitioning an IA representative (RA)?
Please visit the IARD website for IA representative system processing fee information.
 
9. If my firm pays the System Processing Fee (Initial Set-up Fee) to transition an IA individual, and then files a Form U4 Amendment for the same individual, must our firm pay the Initial Set-up Fee twice?
No. In this situation, your firm will only pay one Initial Set-up Fee for transitioning, and no fee is charged for filing the Form U4 Amendment.
 
10. For a new individual requesting an RA registration, does the System Processing Fee (Initial Set-up Fee) apply when filing the Initial Form U4?
Yes. An Initial Set-up Fee is charged for an individual when an Initial Form U4 is processed.

 


Funding Your Web CRD/IARD Account

 

11. What payment methods are available for me to fund my firm's account?
The following methods are available and complete instructions can be found on the Web CRD Payment Methods & Addresses page.

  • Electronic Payment via E-Pay
  • Wire Transfer
  • Web CRD Funds Transfer
  • Check

12. What is Web CRD/IARD E-Pay?
Web CRD/IARD E-Pay allows a firm to authorize electronic payment (ACH payments) directly from the firm's designated bank account to the firm's Web CRD/IARD accounts. FINRA does not charge firms any fees for utilizing E-Pay; however, firms should verify with their banks whether their bank assesses ACH transaction fees for using E-Pay. Complete information about E-Pay can be found on the Web CRD Payment Methods & Addresses page. For additional answers to questions regarding E-Pay, please refer to the E-Pay FAQ page.
 
13. What steps can a firm take to ensure prompt deposit of funds into its Web CRD/IARD account?
To ensure timely and accurate processing of deposits, please read the instructions provided on the Web CRD Payment Methods & Addresses page for the payment method you choose.
 
14. What is required to transfer funds between affiliated firms' accounts?
If you firm needs to transfer funds, an authorized representative of the firm must complete and submit a Funds Transfer Request Form.

Last Updated: 3/16/2012