North Dakota Filing Fees: RIA, IAR, Broker-Dealer & Form D (2026)
What it actually costs to register and renew in North Dakota. Fees are paid to the ND Securities Department.
RIA firm registration
$120
$80 below the national median
Per IAR
$50
at the national median
Broker-dealer firm
$240
$10 below the national median
Per BD agent
$75
$15 above the national median
Form D / Blue Sky notice
$100
$150 below the national median
Renewal
$120
Same as initial registration
Year-one cost scenarios in North Dakota
Solo state-registered RIA (1 IAR) in North Dakota
$120 firm + $50 IAR + $150 IARD system + $45 IAR system
$365
RIA with 3 investment adviser representatives
$120 firm + 3 × $50 IAR + IARD system fees
$555
Broker-dealer with 5 registered agents
$240 firm + 5 × $75 agent (excludes FINRA/CRD fees)
$615
Private fund Form D notice filing (North Dakota 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 ND Securities Department before filing.
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Frequently asked questions
How much does it cost to register as an investment adviser in North Dakota?
North Dakota charges $120 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 $365 in year-one filing fees, excluding legal, consulting, and compliance-manual costs.
What is the North Dakota IAR registration fee?
$50 per investment adviser representative, paid through IARD to the ND Securities Department. That is at the national median.
What does a broker-dealer pay to register in North Dakota?
$240 for the broker-dealer firm and $75 per registered agent, paid through CRD to the ND Securities Department. FINRA membership and CRD fees are separate.
What is the North Dakota Form D / Blue Sky notice filing fee?
$100 per offering for a Regulation D 506(b) or 506(c) notice filing when North Dakota 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 North Dakota charge the same fee to renew?
Yes — North Dakota charges the same amounts at annual renewal, so a solo RIA should plan on roughly $365 per year in recurring state and IARD fees.