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Schedule of Registration and Exam Fees

Firms are assessed individual registration, examination and filing fees for FINRA and on behalf of participating regulators. State sales tax is also assessed for certain FINRA-provided products or services; please review the E-Bill state sales tax information for details.

FINRA's E-Bill system is the online application firms use when making electronic (ACH) payments. E-Bill allows entitled users to view and pay FINRA invoices, as well as fund their firm’s Flex-Funding Account.

Learn more on the Regulatory Fees and Payment Options page.

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Membership Fees


Effective 7/23/12

The New Member Application (NMA) fee structure assesses fees ranging from $7,500 to $55,000 depending on the size of the new member applicant, as outlined in the tables below. The fee structure also assesses an additional $5,000 surcharge for a new member firm applicant that intends to engage in clearing and carrying activities.

Note: To assist new firms in calculating their membership fees, FINRA has created the New Membership Application Fee Calculator in Excel format.

All CMAs filed on or after July 23, 2012, will be charged an application filing fee as set forth in Regulatory Notice 12-32 and Schedule A, Section 4 of the By-Laws. The new fee structure is outlined in the table below:

Number of Registered Persons
Associated With Applicant
Small Medium Large
Tier 1 1-10 151-300 501-1,000
Tier 2 11-100 301-500 1,001-5,000
Tier 3 101-150 N/A >5,000
  Small Medium Large
Application Fee
Tier 1 $7,500 $25,000 $35,000
Tier 2 $12,500 $30,000 $45,000
Tier 3 $20,000 N/A $55,000
Merger
Tier 1 $7,500 $25,000 $50,000
Tier 2 $12,500 $30,000 $75,000
Tier 3 $20,000 N/A $100,000
Material Change
Tier 1 $5,000 $20,000 $35,000
Tier 2 $10,000 $25,000 $50,000
Tier 3 $15,000 N/A $75,000
Ownership Change $5,000 $10,000 $15,000
Transfer of Assets $5,000 $10,000 $15,000
Acquisition $5,000 $10,000 $15,000


General Registration Fees


Effective 1/02/13

Fee Description
$100.00 Registration Fee – for each initial Form U4. The following discounts apply to Forms U4 filed to transfer the registration of representatives/principals in connection with acquisition of all/part of a member's business by another member:
  • 1,000–1,999 registered personnel transferred – 10% discount
  • 2,000–2,999 registered personnel transferred – 20% discount
  • 3,000–3,999 registered personnel transferred – 30% discount
  • 4,000–4,999 registered personnel transferred – 40% discount
  • 5,000 and over registered personnel transferred – 50% discount
$45.00 Annual CRD Processing Fee
$110.00

Disclosure Processing Fee:

  • U4, U5 & Amendments – for all registration, transfer or termination filings with new or amended disclosure information or that require certification as well as any amendment to disclosure information
  • BD Amendments – for filings with new or amended disclosure information.
$100.00 for the first day, $25 for each subsequent day, up to a maximum of 60 days. $1,575 max Late Disclosure Fee (U4, U5 & Amendments)
$40.00 Termination Fee
$80.00 Late Termination Fee


Branch Office Registration Fees


Fee Per Branch Office Description
$75 Branch Office Initial Registration Fee
$20 Branch Office System Processing Fee

Notes about Branch Office Fees:

  • FINRA will continue to waive the Initial Registration Fee for one branch per firm.
  • FINRA will continue to waive the System Processing Fee for one branch per firm.


Fingerprint Processing Fees


Current fingerprint processing fees are available on the Fingerprint Fees page.  Missing custom block.


Qualification Exam Fees


Qualification Examination Fees are listed on the FINRA Administered Qualification Examinations table.


Annual Renewal Program Fees


FINRA’s Annual Renewal Program supports the collection and disbursement of fees related to the renewal of registrations with participating SROs and jurisdictions. Please see the Annual Renewal Program page for complete information, including dates.

Firms can review and pay Annual Renewal Program statements through their Renewal Account in E-Bill; please see the Renewal Program Payment Options page for specific payment information related to the Annual Renewal Program.

As announced in SR-FINRA-2020-032, FINRA’s Branch Office Processing fee (both initial and annual) will increase from $20 to $75 on Jan. 1, 2022. This fee change will affect renewal fees assessed for branches registered with FINRA.


Firm Renewal Fees (Form BD)


    Description Fee
    SRO/Jurisdiction Registration Renewal Fee: See the for information regarding renewal fees for SRO and jurisdiction registrations on Form BD.


    Individual Renewal Fees (Form U4)


    Description Fee
    Annual Statutory Disqualification (SD) Fee: Pursuant to Section 12(b) of Schedule A to the FINRA By-Laws, members employing Tier I and Tier II persons are required to pay an annual assessment. Please see the General Information on FINRA’s Eligibility Requirements page to learn more.

    Fee is assessed per SD individual based on Tier:

    • SD Tier I: $1,500
    • SD Tier II: $1,000
    Annual CRD System Processing Fee: Charged for each individual with an “approved” registration status with a broker dealer firm. $45
    SRO/Jurisdiction Registration Renewal Fee: See the for information regarding renewal fees for SRO and jurisdiction registrations on Form U4. Note that some jurisdictions apply a discount for individuals that are registered as a sole proprietor and/or both AG and RA. Renewal Reports are also available in CRD; see the  for more information.


    Branch Renewal Fees (Form BR)


    Description Fee
    Annual Branch Renewal Processing Fee: FINRA will continue to waive the Annual Branch Renewal Processing Fee for one branch per firm. $20

    As announced in SR-FINRA-2020-032, the Branch Renewal Processing fee will increase to $75 effective Jan. 1, 2022. This increase will be reflected on Preliminary Statements generated in November 2021.
    Annual Branch Renewal Registration Fee: FINRA will continue to waive the Renewal Registration Fee for one branch per firm. Fee is based upon number of registered branches:
    • 1-250: $175
    • 251-500: $150
    • 501-1000: $125
    • 1001-2000: $100
    • 2001+: $75
    SRO/jurisdiction Registration Renewal Fee: See the  for information regarding renewal fees for SRO and jurisdiction registrations on Form BR.


    Renewal Late Fee


    FINRA-registered firms will also be subject to a late fee if payment is not received on time. This fee is only assessed if the Preliminary Statement is not paid in full by the deadline date. FINRA includes this late fee as part of the Final Statement. The Renewal Late Fee is calculated as the greater of the following:

    • 10 percent of a firm’s cumulative final renewal assessment, or
    • $100

    The maximum late fee that FINRA will assess is $5,000.