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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.

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