Schedule of Registration and Exam Fees
As announced in SR-FINRA-2020-32, several fees listed on this page will increase between 2022 and 2024. Visit the FINRA Fee Increase Schedule page to learn more.
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 and fund their firm’s Flex-Funding Account.
Learn more on the Regulatory Fees and Payment Options page.
On This Page
Membership Fees
Effective 7/23/2012
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 1/1/2023
| Fee | Description |
|---|---|
| $125 | Registration Fee – for each initial Form U4, and for Form U4 amendments re-requesting a FINRA registration after a previous request for the registration purged. 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:
|
| $155.00 | Disclosure Processing Fee:
|
| $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) |
| $50.00 | Termination Fee |
| $100.00 | Late Termination Fee |
Branch Office Registration Fees
| Fee Per Branch Office | Description |
|---|---|
| $75 | Branch Office Initial Registration Fee |
| $75 | 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.
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.
Firm Renewal Fees (Form BD)
| Description | Fee |
|---|---|
| SRO/Jurisdiction Registration Renewal Fee: See the SRO/Jurisdiction Fee and Setting Schedule 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:
|
| Annual System Processing Fee: Charged for each individual with an “approved” registration status with a broker dealer firm. | $70 |
| SRO/Jurisdiction Registration Renewal Fee: See the SRO/Jurisdiction Fee and Setting Schedule 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 Web CRD Reports Guide 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. | $75 |
| 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:
|
| SRO/jurisdiction Registration Renewal Fee: See the SRO/Jurisdiction Fee and Setting Schedule 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 follows:
- 10 percent of a member firm’s cumulative final renewal assessment
The minimum late fee FINRA will assess is $100.
The maximum late fee FINRA will assess is $5,000.