SEC Prolongs Standard Investment Adviser Withdrawal Form
Published Date: 6/4/2026
Notice
Summary
The SEC is asking to keep the rules that require investment advisers to tell them when they stop being registered by filing Form ADV-W. This affects all advisers registered or applying with the SEC and takes about 15 to 45 minutes to complete. No big changes or costs, just a smooth extension to keep things running on time.
Analyzed Economic Effects
3 provisions identified: 0 benefits, 3 costs, 0 mixed.
Mandatory Form ADV-W Withdrawal Filing
If you are an investment adviser registered with or applying to the SEC, you must file Form ADV-W electronically on the IARD when you withdraw a pending or approved SEC registration under Rule 203-2. The filing notifies the Commission and the public when an adviser ceases doing business or becomes ineligible to remain registered, and the collection of information is mandatory.
Estimated Time Burden for ADV-W Filings
The SEC estimates completing Form ADV-W takes about 0.75 hours (45 minutes) for a full withdrawal and 0.25 hours (15 minutes) for a partial withdrawal. The Commission estimates approximately 880 full withdrawals and 673 partial withdrawals annually, for a total estimated annual burden of 828.25 hours.
Recordkeeping and Public Filing Status
Advisers must keep a copy of their filed Form ADV-W in their records per the Commission record retention schedule (Job No. N1-266-91-1-43a), and filings made under Rule 203-2 and Form ADV-W are not kept confidential. The collection of information requirements under the rule and form are mandatory.
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