Do You Need To File Form 13-F?

Let’s Talk About It

Form 13F might sound like just another bureaucratic formality, but if you’re an RIA or broker-dealer managing over $100 million in assets, it’s an essential part of your compliance requirements. And yet, so many firms fail to file it on time or don’t file it at all.

Let’s get straight to it:

Form 13F is required by the SEC under Section 13(f) of the Securities Exchange Act of 1934. It’s designed to give transparency to the public about the holdings of institutional investors, and it’s mandatory.

If you’re managing $100 million or more in what’s known as “Section 13(f) securities,” you need to file. The SEC keeps an official list of these securities, which you can find on their website.
The process of filing Form 13F should take you less than an hour. Yes, you read that right, less than an hour. So why do so many firms either not file on time or completely forget about it? They don’t have the tools in place to make it easier. We’ve seen it time and time again with clients that when we first start working with them, they are a few quarters behind on their filings. And this situation is more common than you might think.

But getting behind on this is just asking for trouble.

While it’s true that the SEC hasn’t heavily enforced Form 13F violations in the past, that doesn’t mean you should assume it’s safe to ignore, in fact just last month several firms were fined for 13F violations. When it comes to compliance, it’s better to stay ahead of the curve than play catch-up. And don’t be fooled into thinking you’ll get away with it just because you’ve been lucky so far. Non-compliance is a ticking time bomb.

What Does This Filing Actually Involve?

You’ll need to provide the name of the issuer, a description of the class of security (like common stock or options), the number of shares you hold, and the fair market value of those shares as of the end of the quarter. And one more thing—you need to use the trade date for reporting, not the settlement date.

If you’re reading this and realizing you’ve fallen behind on your filings, don’t panic. The best course of action is to self-report and file as soon as possible. By being proactive, you’ll likely avoid penalties that would otherwise come from regulators finding out on their own.

Are You Thinking ” I Don’t Have Time For This”?

You’re not alone. Many firms feel the same way. That’s where we come in. We’ve developed a system to make this process even easier. We convert the SEC’s PDF list of 13(f) securities into an Excel sheet, simplifying everything. For firms that want to make sure they’re doing this correctly and on time, outsourcing compliance is a no-brainer.

Let this be your wake-up call: Form 13F is not something to sweep under the rug. The filing itself may be low-hanging fruit, but the consequences of ignoring it are anything but. Don’t wait for the SEC to knock on your door. Be proactive, get it done right, and focus on using compliance to grow your business.

Need Help?

If you need help with your filings, or if you just want the peace of mind that comes with knowing your compliance is handled by experts, reach out. We’re here to help. Contact us to take care of the details so you can get back to what you do best.