Pennsylvania Filing Fees: RIA, IAR, Broker-Dealer & Form D (2026)
What it actually costs to register and renew in Pennsylvania. Fees are paid to the PA Dept. of Banking & Securities.
RIA firm registration
$400
$200 above the national median
Per IAR
$135
$85 above the national median
Broker-dealer firm
$550
$300 above the national median
Per BD agent
$135
$75 above the national median
Form D / Blue Sky notice
$525
$275 above the national median
Renewal
Varies
Reduced/different at renewal
Year-one cost scenarios in Pennsylvania
Solo state-registered RIA (1 IAR) in Pennsylvania
$400 firm + $135 IAR + $150 IARD system + $45 IAR system
$730
RIA with 3 investment adviser representatives
$400 firm + 3 × $135 IAR + IARD system fees
$1,090
Broker-dealer with 5 registered agents
$550 firm + 5 × $135 agent (excludes FINRA/CRD fees)
$1,225
Private fund Form D notice filing (Pennsylvania investors)
State Blue Sky notice fee, due within 15 days of first sale
$525
Filing fees only. Excludes compliance-manual drafting, Form ADV preparation, consulting, legal, E&O, and FINRA membership costs. Verify amounts with the PA Dept. of Banking & Securities before filing.
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Frequently asked questions
How much does it cost to register as an investment adviser in Pennsylvania?
Pennsylvania charges $400 for investment adviser firm registration and $135 per investment adviser representative. Adding FINRA IARD system fees ($150 firm, $45 per IAR), a solo RIA should budget roughly $730 in year-one filing fees, excluding legal, consulting, and compliance-manual costs.
What is the Pennsylvania IAR registration fee?
$135 per investment adviser representative, paid through IARD to the PA Dept. of Banking & Securities. That is $85 above the national median. Note: IA firm renewal $350; IAR renewal $120; Form D $525 per issuer
What does a broker-dealer pay to register in Pennsylvania?
$550 for the broker-dealer firm and $135 per registered agent, paid through CRD to the PA Dept. of Banking & Securities. FINRA membership and CRD fees are separate.
What is the Pennsylvania Form D / Blue Sky notice filing fee?
$525 per offering for a Regulation D 506(b) or 506(c) notice filing when Pennsylvania 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 Pennsylvania charge the same fee to renew?
No — Pennsylvania renewal fees differ from initial registration. IA firm renewal $350; IAR renewal $120; Form D $525 per issuer Confirm current amounts with the PA Dept. of Banking & Securities before your renewal window.