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Annual Reports

Every broker or dealer registered pursuant to Section 15 of the Securities Exchange Act of 1934 (SEA) is required to file an annual report as specified under SEA Rule 17a-5(d).  Members must submit their annual reports to FINRA in electronic form through FINRA’s Firm Gateway.  See below for further information on FINRA Firm Gateway.  To assist members in their reporting obligations, FINRA makes available an annual notice with report filing due dates.  See Information Notice – 11/16/18

Filing with the SEC

Pursuant to SEA Rule 17a-5(d)(6), members must also file the annual report at the regional office of the SEC in which the firm has its principal place of business and the SEC’s principal office in Washington, DC.  The SEC has a process for electronic filing of annual audit reports, in lieu of filing in paper form, which the SEC simplified and updated in January 2017.[1]  Members are reminded that the SEC requires firms to obtain EDGAR access credentials in order to be able to file electronically.[2]  The process for obtaining such credentials may take several days and members are encouraged to request the access credentials prior to the due date of their filing in order to ensure timely submissions. 

SIPC Requirement

SEA Rule 17a-5(d)(6) requires firms that are members of the Securities Investor Protection Corporation (SIPC) to file the annual audit report with SIPC.  Members are reminded that in August 2017 SIPC and FINRA announced an agreement designed to ease reporting burdens and compliance costs for firms.[3]  Pursuant to the agreement, when a firm that is a SIPC member files an annual audit report through FINRA’s Firm Gateway on or after September 1, 2017, this will also constitute filing with SIPC.  Members may consult the SIPC website for further information.

FINRA Firm Gateway and Entitlements

Members must use their current FINRA entitlement user ID and password to access the Firm Gateway. Questions regarding access to the Firm Gateway should be directed to your firm’s Super Account Administrator (SAA). Questions regarding the filing of reports, the resetting of passwords or general technical concerns regarding system requirements should be directed to FINRA Business and Technology Support Services at (800) 321-6273.

Contact OGC

FINRA's Office of General Counsel (OGC) staff provides broker-dealers, attorneys, registered representatives, investors and other interested parties with interpretative guidance relating to FINRA’s rules. Please see Interpreting the Rules for more information.

OGC staff contact:
Adam Arkel
FINRA, OGC
1735 K Street, NW
Washington, DC 20006
(202) 728-6961


Notes

[1]  See Electronic Filing of Broker-Dealer Annual Reports on the SEC website; see also Regulatory Notice 17-07 (Updated SEC No-Action Guidance and Instructions on Electronic Filing of Broker-Dealer Annual Reports) (February 2017).

[2]  See Procedures for Broker-Dealers to Obtain EDGAR Access Credentials for Submission of X-17A-5 Part III Annual Reports and Amendments on the SEC website.

[3]  See FINRA News Release, SIPC and FINRA Streamline Reporting Process for Broker-Dealers (August 1, 2017).


 

  • 2019 and First Quarter of 2020 Report Filing Due Dates: Annual Audit; FOCUS; Form Custody; Supplemental Statement of Income (SSOI); Supplemental Schedule for Derivatives and Other Off-Balance Sheet Items (OBS); and Supplemental Inventory Schedule (SIS)
  • Amendments to the SEC's Financial Reporting Requirements—eFOCUS System Updates and Annual Audit Requirements
  • 2018 and First Quarter of 2019 Report Filing Due Dates: Annual Audit; FOCUS; Form Custody; Supplemental Statement of Income (SSOI); Supplemental Schedule for Derivatives and Other Off-Balance Sheet Items (OBS); and Supplemental Inventory Schedule (SIS)
  • Updated SEC No-Action Guidance and Instructions on Electronic Filing of Broker-Dealer Annual Reports
  • 2017 and First Quarter of 2018 Report Filing Due Dates: Annual Audit; FOCUS; Form Custody; Supplemental Statement of Income (SSOI); Supplemental Schedule for Derivatives and Other Off-Balance Sheet Items (OBS); and Supplemental Inventory Schedule (SIS)
  • SEC No-Action Guidance on Electronic Filing of Broker-Dealer Annual Reports
  • 2016 and First Quarter of 2017 Report Filing Due Dates: Annual Audit; FOCUS; Form Custody; Supplemental Statement of Income (SSOI); Supplemental Schedule for Derivatives and Other Off-Balance Sheet Items (OBS); and Supplemental Inventory Schedule (SIS)
  • Annual Audit; FOCUS; Form Custody; Supplemental Statement of Income (SSOI); Supplemental Schedule for Derivatives and Other Off-Balance Sheet Items (OBS); and Supplemental Inventory Schedule (SIS)
  • 2014 Annual Audit, FOCUS, Form Custody, Supplemental Statement of Income (SSOI) and Off-Balance Sheet (OBS) Report Filing Due Dates
  • 2013 Annual Audit, FOCUS and Supplemental Statement of Income (SSOI) Report Filing Deadlines
  • FINRA to Require Electronic Submission of Annual Audit Reports
  • Certification of Annual Audits
  • Frequently Asked NASD Financial and Operational Questions
  • NASD Reminds Member Firms of Their Obligations to File Certain Financial Reports
  • FAQ

    Due to the coronavirus pandemic (COVID-19), FINRA is providing temporary relief for member firms from rules and requirements in the Frequently Asked Questions below. The relief provided does not extend beyond the identified rules and requirements. FINRA will continue to monitor the situation to determine whether additional guidance and relief may be appropriate. As coronavirus-related risks decrease, member firms should expect to return to meeting any regulatory obligations for which relief has been provided.

    March 24, 2020
  • Guidance, Email to Firms
    Securities and Exchange Commission (SEC) Rule 17a-5(d)(1)(i) requires every broker or dealer registered pursuant to Section 15 of the Act of 1934 to file a certified annual audit no later than 60 calendar days from their designated fiscal year end.
  • Guidance
    The timely receipt of firms’ annual audited financial statements is critical to FINRA’s ability to carry out its regulatory obligations.