North Dakota

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I. Registration Fees.

  • Investment Adviser: $100.
  • Investment Adviser Representative: $50.

II. Financial & Bonding Requirements. An IA with discretionary authority is required to remain solvent. 

III. Sole Proprietorships. If an IA is a sole proprietorship, registration fees must be paid for IA. In addition, a form U4 must be filed for the IAR.

IV. De Minimis. An out-of state IA is not required to register until it has more than 5 clients.

V. Other Required Documents.

  • Consent to service.
  • Affidavit of prior activity.

For additional information, please contact the state securities administrator.

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