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Annual Renewal

Firms are required to renew their FINRA, other self-regulatory organizations and states/jurisdictions registrations during the annual Renewal Program, which begins in the fourth quarter of each year. FINRA collects all applicable renewal fees on behalf of itself and participating regulators, which enables firms to submit their total renewal payment to FINRA instead of each regulator. Learn more about the renewal process on the page below.

On This Page


Timeline

Renewal fees are provided through two statements:

Preliminary Statement Period

Preliminary Statements are generated in mid-November. They reflect currently approved registrations that have not been terminated, including post-dated filings submitted before the statement is generated. 

Get Ready for Renewals

ASAP:  Review and Prepare for the 2021 Renewal Program.

  • Review and print/save this timeline. You can also download reminders to add to your calendar.
  • The availability of the systems is affected by renewals processing, so take note of changes on the CRD/IARD Availability page.
  • Confirm that the information for the Renewal Contact in FINRA Gateway is current since this person is FINRA’s primary contact for renewals.
  • Enable email alerts about the Renewal Program in E-Bill.
  • Review firm, branch and individual registrations to ensure the registrations should be renewed. The FinPro Attestation feature allows representatives to review and determine if their registration record requires updating. Learn more on the FinPro and FINRA Gateway pages.

Submit Year-end Terminations in Advance

OCTOBER 19:  Begin Preparing Post-Dated Forms U5 and BR Closing/Withdrawal Filings.  [Add to my calendar]

Starting October 19, firms can submit Forms U5 and BR Termination filings with a termination date of December 31. Submitting these filings allows firms to request termination of registrations in advance.  Registrations terminated through these post-dated filings before Preliminary Statements are generated will not be included for renewals.

NOVEMBER 1:  Begin Preparing Post-Dated Forms BDW and ADV-W.  [Add to my calendar]

Starting November 1, firms can initiate Forms BDW and ADV-W filings with a termination date of December 31. Submitting these filings allows firms to request termination of registrations in advance.  Registrations terminated through these post-dated filings before Preliminary Statements are generated will not be included for renewals.

Pay in Full; Pay on Time

NOVEMBER 16:  Retrieve (and Schedule Payment for) the Preliminary Statement in E-Bill.  [Add to my calendar]

Preliminary Statements are available in E-Bill beginning November 16. Many firms find it convenient to submit or schedule their payment while logged in to E-Bill to retrieve the statement. Preliminary Statement reports are also available in CRD/IARD. Be sure to save or print these reports before Final Statements are generated as they cannot be recreated once Final Statement is created.

DECEMBER 14:  Ensure Full Payment is Available in Renewal or Flex-Funding Account by This Date.  [Add to my calendar]

FINRA-registered firms should ensure payment is received and posted to your account by this day. Money can be deposited directly into your firm’s Renewal Account, or firms may rely on FINRA to transfer the money from your firm's Flex-Funding Account that begins December 14. In order to take advantage of this transfer, the complete amount due for renewals must be available in your firm’s Flex-Funding account. See the Renewal Payment Options page for more information.

Firms must pay the entire amount assessed on the Preliminary Statement. Failure to remit full payment of their Preliminary Statement to FINRA by December 14, 2020, may cause FINRA-registered firms to be subject to a late fee.

Beat the Clock: 2020 System Shutdown

DECEMBER 26:  Submit Filings and Payments Before the 2020 Deadline at 6 pm ET. [Add to my calendar]

The CRD/IARD system shuts down for the year at 6 pm on December 26. Firms should ensure that they perform the following activities before the shutdown occurs:

  • Submit registration filings. This includes terminating any registrations that firms do not want to renew for 2021.
  • Finalize any E-Bill renewal payments or transactions. Firms that missed the payment deadline must ensure that renewal funds are posted by this date. At 6:00 pm ET, any unpaid Preliminary Statement will result in jurisdictions automatically terminating registrations for failing to renew. In addition, failing to renew will result in the inability to conduct business in these jurisdictions effective January 1, 2021.
  • Print and/or save renewal reports in CRD/IARD. On January 2, Preliminary Statement reports will be replaced with Final Statement reports
  • Several CRD/IARD system outages occur during the Renewal Program. See the CRD/IARD Availability page for details.

Final Statement Period

Final Statements are made available in January. They display the registrations that were renewed for January 1 and any amount owed by the firm. If a firm overpaid the amount owed for the Final Statement, the overpayment was transferred to the firm’s Flex-Funding account.

Last Steps

JANUARY 2:  Retrieve and Schedule Payment for the Final Statement in E-Bill.  [Add to my calendar]

  • Final Statements are available in E-Bill on January 2. Preliminary Statement reports are replaced with Final Statement reports in CRD/IARD.
  • Many firms find it convenient to schedule any required payment while logged in to E-Bill to retrieve the statement. If additional payment is not required, the Final Statement will reflect "Paid in Full." Any overpayment FINRA received from a firm is now available in the firm’s Flex-Funding account.

JANUARY 22:  Ensure Discrepancies are Reported or Balance is Paid. [Add to my calendar]

  • Firms must submit any amount owed on the Final Statement to FINRA by this day. Money can be deposited directly into the Renewal Account, or firms can rely on FINRA to transfer funds from the firm's Flex-Funding Account beginning January 22.  In order to take advantage of this transfer, the complete amount due for renewals must be available in your firm’s Flex-Funding account. See the Renewal Payment Options page for more information.
  • January 22 is also the deadline for firms to report in writing to FINRA any discrepancies found on the Final Statement. FINRA must receive this by January 22, 2021.

Fees

FINRA’s annual Renewal program supports the collection and disbursement of fees to participating regulators for renewing registrations. See the Annual Renewal Program Fees section of the Schedule of Registration and Exam Fees page for a complete list.


Payment Methods

Both renewal statements are posted to the firm’s Renewal Account within E-Bill. Firms can designate funds for renewals by depositing or transferring funds to that account, but it isn't required before the deadlines. If sufficient money is available in a firm's Flex-Funding Account on the payment deadlines, FINRA will transfer the funds to the Renewal Account to pay the renewal statement.

Account deposits can be made via ACH in E-Bill, wire or check. E-Bill is the fastest and preferred payment method.

Electronic Payment Via E-Bill (Preferred)

E-Bill allows entitled users to:

Deposits post the next business day if done by 9 p.m. Eastern Time (ET) within E-Bill. FINRA does not charge firms for using E-Bill; however, firms should verify if their bank charges any additional fees. The only information required to initiate an E-Bill payment are details from the check of a U.S. bank account.

A firm’s Super Account Administrator must assign entitlement to E-Bill for any firm employees who require access to E-Bill. Please review the E-Bill User Guide for detailed information about using E-Bill.

Note: Your bank may require FINRA’s Company ID to process transactions via E-Bill. In these instances, please use the following Company IDs: 1222528267, 1222528268 or 1222528269.


Reports

The following renewal reports are made available in CRD/IARD:

  • Firm Renewal Report and Download – This report provides the renewal status for all individuals at the firm grouped by regulator.
  • Branches Renewal Report – This report contains a list of all a firm’s branches for renewal purposes.
  • Approved AG Reg Without FINRA Approval Report – This report provides a list of individuals who are not registered with FINRA but are registered as an Agent with a jurisdiction.

Firms should request, download and print the Preliminary Statement version of these reports for their records before the year-end system shutdown occurs. The Preliminary Statement versions of these reports are replaced with Final Statement versions on January 2.

For more information, please consult the following resources:


Frequently Asked Questions

1. Are there any changes to the Renewal Program that my firm should be aware of?

There are no changes to the Renewal Program, but there are several system enhancements that may benefit your firm:

  • As of Oct. 31, 2020, Form U4 is available in FINRA Gateway, a developing system that has several other features that firms can use to satisfy renewal obligations. However, the uniform registration forms can only be submitted during CRD/IARD hours of availability. The filing functionality in the classic CRD system also remains available. See the Registration Filing on FINRA Gateway page for more information.
  • The Financial Professional Gateway (FinPro) now offers an Attestation feature that allows registered representatives to mark whether their CRD record requires an update. Firms manage the Attestation feature in FINRA Gateway. Learn more about this and other features on the FinPro page.

2. Will the amount of my Preliminary Statement change before the payment deadline date as the firm continues to request new registrations and/or submit filings to terminate registrations?

No, a Preliminary Statement is assessed based on information in CRD/IARD as of 11 p.m. ET the night before this statement is generated. Any fees for approved and terminated registrations after the Preliminary Statement is generated and before CRD/IARD shuts down for the year will be reflected on your Final Statement. The Preliminary Statement must be paid in full regardless of registration changes.

3. I logged on to E-Bill to retrieve my firm's Preliminary Statement, but there wasn't one available. Why doesn't my firm have a statement?

An approved registration status for the firm is required to generate a Preliminary Statement. If your firm did not have an Approved registration in CRD as of 11 p.m. ET the night before Preliminary Statements were generated, then a statement will not be available for your firm. However, a Final Statement will be generated if your firm is approved after a Preliminary Statement is generated and before CRD/IARD shuts down for the year. If this should occur, your firm's renewal fees will be assessed on your Final Statement.

4. My firm submitted a post-dated Form U5 for an individual by mistake. Can the firm withdraw or cancel that filing?

No, CRD/IARD processes post-dated filings as they are submitted, so they cannot be withdrawn or canceled once submitted. If a post-dated full or partial Form U5 is submitted by mistake, then a new Form U4 or a Form U4 amendment must be submitted once CRD/IARD becomes available in the new year. New registration fees will be assessed.