What is SEC Form 24F-2
SEC Form 24F-2 is a filing that must be submitted annually by open-end management investment companies. The form is also required for face-amount certificate companies and unit investment trusts. The form must specify the name of each series or class of securities for which the form is filed, and be filed within 90 days of the end of the fiscal year during which the company has publicly offered such securities.
BREAKING DOWN SEC Form 24F-2
SEC Form 24F-2, also known as "annual notice of securities sold," is required by rule 24F-2 under the Investment Company Act of 1940. The Securities and Exchange Commission (SEC) uses this form to calculate and collect registration fees payable to the Commission by these companies. “Open-end management companies” refers to firms that offer mutual funds and ETFs. Rule 24F-2 does not apply to closed-end funds.
How Investment Companies File Annual SEC Fees
Investment companies that issue the securities covered by form 24F-2 will typically have issued multiple securities with varying fiscal years. Form 24F-2 allows multiple securities with the same fiscal end date to be submitted, and the issuer can calculate its fees based on aggregate net sales of the series having the same fiscal year end. Issuers are required to submit the forms electronically using EDGAR and the Form must be accompanied by the appropriate registration fee. If the Form is being filed late, interest must be paid. Issuers who calculate registration fees on a class-by-class or series-by-series basis can make a single filing consisting of a separate Form 24F-2 for each class or series in a single document.
Securities laws require the SEC to make annual adjustments to the rates for fees paid under Section 6(b) of the Securities Act of 1933, which is for initial registration of securities. The Section 6(b) rate is also the rate used to calculate the fees payable under Rule 24F-2. As of fiscal 2018, the rate is $124.50 per million dollars.