Notice Filing

Notice Filings:

Regulation D – Rule 506 Offerings 

Full requirements for Notice Filing of Regulation D – Rule 506 offerings can be found in 9 V.S.A. § 5302(c) and V.S.R. § 4-3(b).

  • All filings must be completed electronically through the Electronic Filing Depository (“EFD”). 
  • Initial filing: $600
  • Annual renewal for duration of offering: $600
  • Fees payable electronically through EFD

Investment company offerings

Full requirements regarding investment company offerings can be found in 9 V.S.A. 5302(a) and (f) and V.S.R. § 4-3(c).

  • Initial filing: $2,000 per share class
  • Annual renewal for duration of offering: $1,500 per share class
  • Form NF

Regulation A – Tier 2

  • Full Requirements for Notice Filing of Regulation A – Tier 2 offerings Can be found in V.S.R. § 4-3(d). 
  • Form Uniform Notice Filing of Regulation A-Tier 2 Offering
  • Initial filing: $600
  • Annual renewal for duration of offering: $600
  • Testing the Waters-Issuers may be able to gauge interest in a potential regulation A offering prior to registration.  Full Requirements can be found in V.S.R. § 6-4.

Federal Regulation Crowdfunding Offerings

  • Notice filing to the Vermont Securities Division is mandatory for issuers with a principal place of business in Vermont and for out-of-state issuers who sell 50% or more of their aggregate offering in Vermont. Filing requirements are available at V.S.R. Sec. 4-3(e).
  • Federal regulations governing the offering and the contents of the offering materials are found in the Code of Federal Regulations at 17 C.F.R. Part 227. 
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Contact Information

Department of Financial Regulation
Consumer Services 
89 Main Street, Montpelier, VT 05620 - 3101

802-828-3301
833-DFR-HOTLINE (toll free)
833-337-4685 (toll free)

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