NEW: Mutual Funds are now accepted through NASAA EFD

mutual fund

Mutual Fund issuers filing a notice in Minnesota must file a notice (Form NF) and pay the applicable fee with the Department of Commerce. The payment and Form NF must be mailed to the Department. Notice filing requirements pertaining to mutual funds are found in Minnesota Statute, section 80A.50(a)(1) and Minnesota Rule 2876.3020 Subp.1. Note: Blue Express filers must have a contract with BNY Mellon (Blue Express) to use their system.

This notice filing is effective for one year, starting from the later of either (1) the date the notice is filed or (2)the date the offering becomes effective with the SEC pursuant to Minnesota Rule 2876.3020, notice filings expire at midnight on June 30th, regardless of the SEC effectiveness date.

Issuers may be required to file an excess sales amendment if they sell more than the amount originally registered (i.e., if the issuer did not file an amendment to increase the offering amount before exceeding it). The effective date of the excess sale amendment is the date the excess sale occurred.

On or before the expiration date of a notice filing, the Issuer may amend a notice filing by filing a Form NF.

Mutual Fund issuers filing a notice in Minnesota must file a notice (Form NF) and pay the applicable fee with the Department of Commerce. The payment and Form NF must be mailed to the Department. Submissions can also be made via Blue Express.

Fees

  • Open-ended: Excess Sale: 3x (1/20 of one percent of the excess sale), plus a filing fee of $100.
  • Closed-ended: $100 + 1/10 of 1% of max aggregate offering in Minnesota
  • Open-ended: $100 + 1/20 of 1% of max aggregate offering in Minnesota
  • Excess Sale: 3x (1/20 of one percent of the excess sale), plus a filing fee of $100.
  • Amendment fee: $25
  • Amendment + Increase of aggregate amount: $25 + 1/20 of 1% of the increase amount
  • Open-ended Renewal: 1/20 of 1% of max aggregate offering in Minnesota
  • Close-ended Renewal: $100.00

Fee amounts are defined in Minnesota Statute section 80A.65(1).  Fees applicable to federal covered securities are outlined in the table below.  Checks should be made payable to the Minnesota Department of Commerce.