I. Registration Fees.
- Investment Adviser: $150
- Investment Adviser Representative: $30
II. Financial Statements and Surety Bond. Investment advisers must have a surety bond in the amount of $25,000 and an unaudited balance sheet. These requirements are for Idaho based firms only.
III. Sole Proprietorships. The qualifying officer of any firm, including a sole proprietorship, may act as an investment adviser representative for the firm without separately registering as an investment adviser representative. However, doing this may result in a loss of an active exam status.
IV. Branch Offices. Branch offices must notice file.
V. De Minimis. An out-of-state IA is not required to register until it has more than 5 clients. If the firm has a branch in Idaho, the de minimis may not be claimed.
VI. Other Required Documents for out-of-state firms.
- Designate a qualifying officer.
VII. Other Required Documents for Idaho-based firms.
- Original signed surety bond.
- Client contracts.
- Balance sheet.
- Designate a qualifying officer.
For additional information, please contact the state securities administrator.
