Illinois Filing Fees: RIA, IAR, Broker-Dealer & Form D (2026)
What it actually costs to register and renew in Illinois. Fees are paid to the IL Secretary of State, Securities Department.
RIA firm registration
$400
$200 above the national median
Per IAR
$150
$90 above the national median
Broker-dealer firm
$300
$50 above the national median
Per BD agent
$75
$25 above the national median
Form D / Blue Sky notice
$100
$150 below the national median
Renewal
Varies
Reduced/different at renewal
Year-one cost scenarios in Illinois
Solo state-registered RIA (1 IAR) in Illinois
$400 firm + $150 IAR + $150 IARD system + $45 IAR system
$745
RIA with 3 investment adviser representatives
$400 firm + 3 × $150 IAR + IARD system fees
$1,135
Broker-dealer with 5 registered agents
$300 firm + 5 × $75 agent (excludes FINRA/CRD fees)
$675
Private fund Form D notice filing (Illinois investors)
State Blue Sky notice fee, due within 15 days of first sale
$100
Filing fees only. Excludes compliance-manual drafting, Form ADV preparation, consulting, legal, E&O, and FINRA membership costs. Verify amounts with the IL Secretary of State, Securities Department before filing.
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Frequently asked questions
How much does it cost to register as an investment adviser in Illinois?
Illinois charges $400 for investment adviser firm registration and $150 per investment adviser representative. Adding FINRA IARD system fees ($150 firm, $45 per IAR), a solo RIA should budget roughly $745 in year-one filing fees, excluding legal, consulting, and compliance-manual costs.
What is the Illinois IAR registration fee?
$150 per investment adviser representative, paid through IARD to the IL Secretary of State, Securities Department. That is $90 above the national median. Note: Renewal: $200 IA / $200 BD
What does a broker-dealer pay to register in Illinois?
$300 for the broker-dealer firm and $75 per registered agent, paid through CRD to the IL Secretary of State, Securities Department. FINRA membership and CRD fees are separate.
What is the Illinois Form D / Blue Sky notice filing fee?
$100 per offering for a Regulation D 506(b) or 506(c) notice filing when Illinois residents invest. The notice is generally due within 15 days of the first sale in the state.
Does Illinois charge the same fee to renew?
No — Illinois renewal fees differ from initial registration. Renewal: $200 IA / $200 BD Confirm current amounts with the IL Secretary of State, Securities Department before your renewal window.