Massachusetts Filing Fees: RIA, IAR, Broker-Dealer & Form D (2026)
What it actually costs to register and renew in Massachusetts. Fees are paid to the MA Securities Division.
RIA firm registration
$300
$100 above the national median
Per IAR
$50
at the national median
Broker-dealer firm
$450
$200 above the national median
Per BD agent
$75
$15 above the national median
Form D / Blue Sky notice
$250
at the national median
Renewal
$300
Same as initial registration
Year-one cost scenarios in Massachusetts
Solo state-registered RIA (1 IAR) in Massachusetts
$300 firm + $50 IAR + $150 IARD system + $45 IAR system
$545
RIA with 3 investment adviser representatives
$300 firm + 3 × $50 IAR + IARD system fees
$735
Broker-dealer with 5 registered agents
$450 firm + 5 × $75 agent (excludes FINRA/CRD fees)
$825
Private fund Form D notice filing (Massachusetts investors)
State Blue Sky notice fee, due within 15 days of first sale
$250
Filing fees only. Excludes compliance-manual drafting, Form ADV preparation, consulting, legal, E&O, and FINRA membership costs. Verify amounts with the MA Securities Division before filing.
Want the all-in Massachusetts number?
Our registration calculator adds filing fees, Form ADV drafting, policies and procedures, and ongoing consulting into one budget for Massachusetts and any other jurisdictions you need.
Frequently asked questions
How much does it cost to register as an investment adviser in Massachusetts?
Massachusetts charges $300 for investment adviser firm registration and $50 per investment adviser representative. Adding FINRA IARD system fees ($150 firm, $45 per IAR), a solo RIA should budget roughly $545 in year-one filing fees, excluding legal, consulting, and compliance-manual costs.
What is the Massachusetts IAR registration fee?
$50 per investment adviser representative, paid through IARD to the MA Securities Division. That is at the national median. Note: Form D tiered: $250 up to $2M, $500 to $7.5M, $750 above
What does a broker-dealer pay to register in Massachusetts?
$450 for the broker-dealer firm and $75 per registered agent, paid through CRD to the MA Securities Division. FINRA membership and CRD fees are separate.
What is the Massachusetts Form D / Blue Sky notice filing fee?
$250 per offering for a Regulation D 506(b) or 506(c) notice filing when Massachusetts residents invest, plus the $160 NASAA EFD system fee. The notice is generally due within 15 days of the first sale in the state.
Does Massachusetts charge the same fee to renew?
Yes — Massachusetts charges the same amounts at annual renewal, so a solo RIA should plan on roughly $545 per year in recurring state and IARD fees.