CRD - FAQ Accounting
Understanding Your FINRA Flex-Funding Account (CRD/IARD Daily 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 Quick Reference Guide 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 Flex-Funding 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 Flex-Funding 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. 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 Flex-Funding Account
9. 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-Bill
- Wire Transfer
- Web CRD Funds Transfer
10. What is E-Bill?
Effective June 17, 2013, E-Bill replaced the Web CRD/IARD E-Pay system for firms seeking to authorize electronic payment (ACH payments) directly from the firm's designated bank account to the firm's Flex-Funding Account. FINRA does not charge firms any fees for utilizing E-Bill; however, firms should verify with their banks whether their bank assesses ACH transaction fees for using E-Bill. Complete information about E-Bill can be found on the Web CRD Payment Methods & Addresses page. For additional answers to questions regarding E-Bill, please refer to the E-Bill User's Guide.
11. What steps can a firm take to ensure prompt deposit of funds into its Flex-Funding 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.
12. 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.