January 1, 2024

Upcoming Form ADV Annual Updating Amendment

Investment adviser, investment adviser review, SEC registered investment advisers, form adv, IA annual requirements, Form ADV, Form CRS, Annual Updating Amendment, Form ADV Annual Updating Amendment, SEC Requirements, Annual requirements, SEC annual requirements, part 3 form CRS

Now’s the Time to Prepare Your Form ADV Annual Updating Amendment

The Form ADV Annual Updating Amendment is required within 90 days after the end of a firm’s fiscal year, which most frequently requires that this amendment be filed by March 31st.  The Annual Updating Amendment is required for Exempt Reporting Advisers, SEC-Registered Investment Advisers, and State-Registered Investment Advisers.  The Form ADV is a publicly-viewable document that is distributed to clients and contains information about a firm’s business models, fee structures, additional services, and more. This document must be completed accurately to ensure consistency throughout other regulatory filings and deliverables, in an effort to avoid SEC examination deficiencies. A common category for SEC deficiencies is directly related to the accuracy of and consistency between various portions of the Form ADV.

The Form ADV Annual Updating Amendment must update all applicable responses to the items in Part 1A, 1B, and 2A, as well as corresponding sections of Schedules A, B, C, and D and all sections of Schedule R for each relying adviser (as applicable). A firm’s Form ADV Part 2B, although often not uploaded as part of the annual updating amendment, must also be reviewed and updated on an annual basis. If there are no material changes, an investment adviser may, but is not required to, submit as part of its annual Form ADV amendment, an updated version of its client relationship summary (Part 3 of the Form ADV, also known as the “Form CRS”).

How Coast to Coast Compliance Can Help

If would like assistance with the annual updating amendment to your Form ADV, please reach out to us!