Do I have to file Form PF?
RIAs · Video 6 of 8 · 0:28 ·
Only if two things are true: you're registered with the SEC, and you manage $150 million or more in private fund assets. State-registered advisers don't file it, and neither do SEC-registered advisers below $150 million. Those who qualify file at least once a year, so most first funds don't file.
Everything here is for educational purposes only and is not legal, tax or investment advice, or an offer to buy or sell any security. Laws and thresholds change and depend on your facts, so talk to a qualified attorney before acting.
Key facts
- Form PF is filed by SEC-registered advisers to private funds.
- The threshold is $150 million or more in private fund assets.
- State-registered advisers don't file Form PF.
- Smaller filers file annually.
Transcript
Founder: Do I have to file Form PF?
Operator: Two questions. First: are you registered with the SEC?
Operator: State-registered? Then no Form PF.
Founder: And if I am?
Operator: Second: do you manage $150 million or more in private fund assets?
Operator: Below that? No Form PF.
Operator: Yes to both? You file it, at least once a year.
Founder: So most first funds...
Operator: ...don't hit $150 million. So they don't file.
Founder: So, do I have to file Form PF?