Illinois Securities Form NF is the Notice Filing for Federal Covered Securities that issuers of federal covered securities — including Rule 506 private placements and registered investment companies — must file with the Illinois Securities Department under Section 2a of the Illinois Securities Law of 1953. The current revision date printed on the form is Rev. 1/2024, and you should always confirm you have pulled the latest version from the official Form NF PDF before filing.
A late or defective notice can trigger a stop order, civil penalties, and rescission rights for Illinois investors under 815 ILCS 5/12. According to the NASAA 2024 Enforcement Report, more than 18% of state-level securities enforcement actions in 2024 involved missed or defective notice filings, and Illinois ranks in the top five states for Form NF rejections due to incorrect fee calculations.
Here is what you will learn in this guide:
- 📄 What Form NF is, who must file it, and the exact statute that requires it
- 🧾 The line-by-line walkthrough of every box, signature line, and exhibit
- 💵 The current filing fees, including the difference between definite and indefinite offerings
- 🧑💼 Three real filer scenarios — a Rule 506(b) startup, a Rule 506(c) fund, and an open-end mutual fund renewal
- ⚠️ The most common Form NF mistakes and the exact consequence of each one
What the Form Is and Who Must File It
Illinois Securities Form NF is a notice filing, not a registration. Federal law preempts state-level merit review of “covered securities” under Section 18 of the Securities Act of 1933, but states still keep the right to require a notice and a fee. Illinois exercises that right through Section 2a of the Illinois Securities Law and the implementing rules in 14 Ill. Adm. Code 130.Subpart H.
You must file Form NF if you offer or sell any of the following to even a single Illinois resident: a Rule 506(b) or Rule 506(c) private placement under SEC Regulation D, shares of a registered open-end mutual fund, a closed-end fund, a unit investment trust (UIT), or shares listed on a covered national exchange when the notice is required by Illinois rule. Issuers relying on Rule 504 or Rule 147A do not use Form NF; they use Illinois Form 4 instead. The form is the gatekeeper between your federal exemption and your right to lawfully sell into Illinois.
The agency receiving the form is the Illinois Secretary of State, Securities Department, headquartered in Springfield. The deadline is 15 days after the first sale in Illinois for Rule 506 offerings, and on or before the first sale for investment company notices. Filers who ignore this window face a per-day late filing penalty, a possible cease-and-desist, and personal liability for control persons under 815 ILCS 5/13.
A common misconception is that filing a federal Form D with the SEC satisfies Illinois. It does not. Illinois requires a separate state-level notice with its own fee, its own consent to service of process, and its own signature page.
Before You Start: Documents and Information You Need
Pulling every document together before you open the form prevents the single most common rejection reason — incomplete exhibits. The Illinois Securities Department will return any Form NF that arrives without the required attachments, and the clock keeps running on your 15-day deadline while the package sits on your desk.
Use this pre-filing checklist:
- Issuer’s exact legal name as registered with the Illinois Secretary of State or its home-state equivalent, because any mismatch with the SEC EDGAR record will trigger a manual review hold.
- CIK number (for investment companies) or CRD/IARD number if applicable, since the Department cross-checks these against SEC EDGAR and a mismatch flags fraud screening.
- A filed copy of SEC Form D with the EDGAR filing date stamped, because Illinois will not process a Rule 506 notice without it.
- State of incorporation and date of formation, which must match your certificate of incorporation, because filers who use a “doing business as” name here get rejected.
- Type of offering (Rule 506(b), Rule 506(c), open-end fund, closed-end fund, UIT), because the fee box you check depends on this answer.
- Aggregate offering amount sold or to be sold in Illinois, expressed in U.S. dollars, because the fee for definite offerings is calculated on this number.
- Form U-2 Uniform Consent to Service of Process, signed and notarized, because Illinois will not accept service through any other vehicle.
- Filing fee payment method — check, money order, or NASAA Electronic Filing Depository (EFD) ACH — because paper checks must be made payable to “Secretary of State” exactly.
- Authorized signer’s title and contact information, because the signature block must be signed by an executive officer, general partner, or attorney-in-fact with a written power of attorney attached.
- A self-addressed stamped envelope if you want a date-stamped acknowledgment copy returned by mail, because the Department does not return copies otherwise.
Where to Get the Form and How to Access It
The only authoritative copy of Form NF is the PDF posted on the Illinois Secretary of State’s Securities Department site. You can download the current Form NF (sec1100.pdf) directly. Do not use third-party reproductions, because page-numbering or font changes in unofficial copies can cause OCR rejection at the Department’s intake desk.
The form is also available through the NASAA Electronic Filing Depository, which is the preferred channel for Rule 506(b) and Rule 506(c) filings. EFD lets you complete, sign, and pay for Form NF electronically and route the package to Illinois — and to any other state where you sold — in a single workflow. Investment company notices (mutual funds, UITs, closed-end funds) are not currently accepted through EFD and must be filed by mail.
A common misconception is that the EFD system creates the Illinois Form NF automatically from your federal Form D. It does not exactly mirror it. EFD generates a state-specific notice that includes the Illinois fee and consent block, but you still need to review each field for accuracy before you click submit.
If your browser blocks the PDF, right-click the link and choose “Save link as.” The file is a fillable Adobe form, so opening it in Adobe Acrobat Reader (not a browser preview) lets you type directly into the boxes. Filers who print blank copies and handwrite entries get a higher rejection rate because of illegible script in the issuer name field.
Step-by-Step: How to Fill Out Illinois Form NF Line by Line
Form NF is a four-page document with a header block, ten numbered items, an exhibits checklist, and a notarized signature page. Work top to bottom, and never skip a field — even fields marked “if applicable” must be answered “N/A” rather than left blank.
Header: Revision Date and Routing
Plain English: The header tells the Department which version of the form you used and where to route the filing.
How to answer: Confirm the box in the upper right reads Rev. 1/2024. Do not modify the header. Type the routing line “Illinois Securities Department, 421 East Capitol Avenue, 2nd Floor, Springfield, IL 62701” only if your version does not pre-print it.
Example: Maya Chen, GC at NorthLoop Capital, confirms “Rev. 1/2024” appears in the upper right before she begins typing.
Nuance: If you find a Form NF dated before 2024 on a third-party site, discard it. The Department rejects superseded versions on intake.
Common mistake and consequence: Filers who use a 2019-dated Form NF get the entire package returned, and the 15-day clock keeps running, so they often miss the deadline by the time they refile.
Misconception: Some filers think the revision date is cosmetic. It is not. The Department’s intake clerks scan for the revision date first.
Item 1: Name of Issuer
Plain English: Box 1 asks for the legal name of the company or fund issuing the securities.
How to answer: Enter the exact name printed on the certificate of incorporation, certificate of formation, or trust instrument. Use full legal suffixes such as Inc., LLC, or L.P. Do not use trade names, dba names, or marketing names.
Example: Marcus Webb, founder of “BrightLine Robotics,” writes the legal name BrightLine Robotics, Inc. in Box 1, even though the company markets itself as “BrightLine.”
Nuance: If the issuer is a series LLC or a series of a Delaware statutory trust, write the parent name, then the series name in parentheses, e.g., Cardinal Trust (Series 2026-A).
Common mistake and consequence: Writing the marketing name instead of the legal name causes a name-mismatch flag against EDGAR, which puts the filing into a manual review queue that can last 30 days.
Misconception: Filers think the Department will “figure out” the right entity. It will not. The clerks compare strings character-by-character.
Item 2: Address of Issuer’s Principal Office
Plain English: Box 2 asks where the issuer’s headquarters is physically located.
How to answer: Enter street address, city, state, ZIP, and country. P.O. Boxes are not accepted as a principal office. Use the same address you reported on Form D Item 1.
Example: Aisha Robinson, CFO of Sumac Growth Fund III, L.P., enters 245 Beacon St., Suite 400, Boston, MA 02116, USA.
Nuance: Foreign issuers must include the country and use the international postal format, but the city must still be readable in the Latin alphabet.
Common mistake and consequence: Entering a registered-agent address instead of the principal office triggers a discrepancy notice, which delays processing by two to four weeks.
Misconception: Some filers believe a virtual-office address is acceptable because their company is fully remote. It is not. The Department wants the address where executive officers actually conduct business.
Item 3: State of Organization and Date of Formation
Plain English: Box 3 asks where and when the issuer was legally created.
How to answer: Enter the state (e.g., Delaware) and the formation date in MM/DD/YYYY format. Match the date stamped on the certificate of incorporation exactly.
Example: BrightLine Robotics, Inc. enters Delaware and 03/14/2023.
Nuance: If the issuer was converted from another entity type, use the original formation date, not the conversion date.
Common mistake and consequence: Entering the conversion date causes an EDGAR mismatch and a manual review hold.
Misconception: Filers think the date is cosmetic. It is not. The Department uses it to confirm the issuer existed on the date of first sale.
Item 4: CIK Number and File Number
Plain English: Box 4 asks for the SEC-assigned identifiers.
How to answer: Enter the 10-digit CIK number from EDGAR. For investment companies, also enter the 1933 Act and 1940 Act file numbers (e.g., 333-XXXXXX and 811-XXXXX). For Rule 506 issuers, enter the SEC Form D file number (e.g., 021-XXXXXX).
Example: Sumac Growth Fund III, L.P. enters CIK 0001987654 and Form D file number 021-456789.
Nuance: A brand-new Rule 506 issuer that filed Form D the same day may not yet have a file number assigned; in that case write Pending — Form D filed [date] and attach the EDGAR receipt.
Common mistake and consequence: Leaving Box 4 blank causes an automatic rejection because the Department cannot verify the federal exemption.
Misconception: Filers think the CIK is the same as the EIN. It is not. The CIK is an SEC identifier, while the EIN is an IRS identifier.
Item 5: Type of Federal Covered Security
Plain English: Box 5 asks which federal exemption or registration the offering relies on.
How to answer: Check exactly one box: Rule 506(b), Rule 506(c), Investment Company Act §8, or Other (with explanation). For “Other,” cite the statute and rule.
Example: Cardinal Mutual Fund, Inc. checks the “Investment Company Act §8” box and writes 1940 Act File No. 811-12345.
Nuance: A single offering cannot rely on both Rule 506(b) and Rule 506(c) at the same time; you must pick one and stick with it through the entire offering.
Common mistake and consequence: Checking both 506(b) and 506(c) is treated as an inconsistency and the Department returns the form for clarification.
Misconception: Filers think they can switch from 506(b) to 506(c) midstream without amending. They cannot. A switch requires a new Form D and a new Form NF.
Item 6: Aggregate Offering Amount and Amount Sold in Illinois
Plain English: Box 6 asks how much the issuer is offering in total and how much was sold to Illinois residents.
How to answer: Enter the aggregate offering amount in U.S. dollars, then enter the amount sold to Illinois residents as of the filing date. For indefinite open-end fund offerings, write Indefinite.
Example: BrightLine Robotics, Inc. enters $5,000,000 as the aggregate offering and $250,000 as the Illinois portion.
Nuance: If you have not yet sold to any Illinois residents but expect to, enter $0 for the Illinois portion and check the “initial notice” box.
Common mistake and consequence: Reporting the Illinois-only number as the aggregate offering causes the fee to be calculated on the wrong base, which results in an underpayment notice and a late penalty.
Misconception: Filers believe the Illinois amount drives the fee. It does not. For Rule 506 issuers, the Illinois fee is a flat $100 regardless of dollar amount.
Item 7: Filing Fee
Plain English: Box 7 asks how much you are paying and how.
How to answer: For Rule 506(b) and 506(c) initial notices, enter $100. For open-end investment companies, enter $300 for the initial notice and $300 for each annual renewal. For UITs, enter $300 per series. Identify the payment method (check, money order, or EFD ACH).
Example: Cardinal Mutual Fund, Inc. enters $300 and writes EFD ACH confirmation #EFD-2026-44781.
Nuance: Funds with multiple series pay one fee per series, not one fee per fund family, so a fund family with eight series pays eight times.
Common mistake and consequence: Underpaying the fee — for example, paying $100 instead of $300 for a mutual fund — causes the notice to be deemed not filed, which means the fund cannot lawfully sell in Illinois until the deficiency is cured.
Misconception: Filers believe the Department will invoice the difference. It will not. It returns the package and treats the original filing as void.
Item 8: Consent to Service of Process
Plain English: Box 8 confirms you are attaching a Form U-2 consent to service of process.
How to answer: Check the box, attach a fully executed Uniform Consent to Service of Process (Form U-2), and ensure it is signed by an authorized officer and notarized.
Example: Maya Chen signs Form U-2 in front of a Massachusetts notary and staples it as Exhibit B to the Form NF package.
Nuance: The U-2 must designate the Illinois Secretary of State as the agent for service in Illinois specifically, not “all states.”
Common mistake and consequence: Submitting an unnotarized U-2 voids the consent, and the Department will treat the entire Form NF as defective.
Misconception: Filers think a digital signature on the U-2 is enough. It is not. Illinois currently requires a wet-ink signature and a physical notary seal for paper filings.
Item 9: Sales Reporting Election (Investment Companies Only)
Plain English: Box 9 asks open-end investment companies to elect how they will report sales.
How to answer: Check either Annual report of sales or Sales report at termination. Most open-end funds check annual.
Example: Cardinal Mutual Fund, Inc. checks “Annual report of sales” and notes the fiscal year-end as 12/31.
Nuance: Closed-end funds and UITs are not required to complete this item and should write N/A.
Common mistake and consequence: Skipping Box 9 when the issuer is an open-end fund causes the renewal to be flagged and may result in a stop order on continued sales.
Misconception: Filers think the election is permanent. It is not. You can change the election with each annual renewal.
Item 10: Signature, Title, and Date
Plain English: Box 10 is the signature block.
How to answer: The form must be signed by an executive officer, general partner, trustee, or duly authorized attorney-in-fact. Print the name, title, and date in MM/DD/YYYY format.
Example: Aisha Robinson signs as Aisha Robinson, Chief Financial Officer, Sumac Growth Fund III GP, LLC, and dates it 04/22/2026.
Nuance: If an attorney-in-fact signs, attach a copy of the power of attorney as Exhibit C. The POA must be specific to securities filings.
Common mistake and consequence: A paralegal or assistant signing without a POA is treated as an unauthorized signature, which voids the entire filing.
Misconception: Filers think any officer can sign. Not exactly. The signer must have actual authority over securities matters, not just any C-suite title.
Three Filled-Out Examples Using Real Scenarios
The three scenarios below show how very different filers complete the same Form NF. Each example follows one named filer through the form from top to bottom.
Scenario 1: Marcus Webb — Rule 506(b) Startup, First Illinois Sale
Marcus is the founder of BrightLine Robotics, Inc., a Delaware C-corp raising a $5M seed round. He just closed a $250,000 commitment from a Chicago angel investor.
| Form Section | What Marcus Enters |
|---|---|
| Item 1 — Issuer Name | BrightLine Robotics, Inc. |
| Item 2 — Principal Office | 1100 Mission St., San Francisco, CA 94103 |
| Item 3 — State and Date of Formation | Delaware; 03/14/2023 |
| Item 4 — CIK / File Number | CIK 0002012345; Form D 021-998877 |
| Item 5 — Type of Security | Rule 506(b) |
| Item 6 — Offering Amount | $5,000,000 aggregate; $250,000 Illinois |
| Item 7 — Fee | $100 paid via EFD ACH |
| Item 8 — Consent to Service | Form U-2 attached, notarized 04/15/2026 |
| Item 10 — Signature | Marcus Webb, CEO, 04/16/2026 |
Scenario 2: Aisha Robinson — Rule 506(c) Private Fund, Generally Solicited
Aisha is CFO of Sumac Growth Fund III, L.P., a Delaware limited partnership running a $100M generally solicited fund. The fund admitted three Illinois LPs.
| Form Section | What Aisha Enters |
|---|---|
| Item 1 — Issuer Name | Sumac Growth Fund III, L.P. |
| Item 2 — Principal Office | 245 Beacon St., Suite 400, Boston, MA 02116 |
| Item 3 — State and Date of Formation | Delaware; 01/05/2025 |
| Item 4 — CIK / File Number | CIK 0001987654; Form D 021-456789 |
| Item 5 — Type of Security | Rule 506(c) |
| Item 6 — Offering Amount | $100,000,000 aggregate; $4,500,000 Illinois |
| Item 7 — Fee | $100 paid via EFD ACH (confirmation EFD-2026-33112) |
| Item 8 — Consent to Service | Form U-2 signed by Aisha Robinson, notarized 04/20/2026 |
| Item 10 — Signature | Aisha Robinson, CFO, Sumac Growth GP III, LLC, 04/22/2026 |
Scenario 3: Maya Chen — Open-End Mutual Fund Annual Renewal
Maya is general counsel for Cardinal Mutual Fund, Inc., a registered open-end fund family with three series renewing notice for the 2026 fiscal year.
| Form Section | What Maya Enters |
|---|---|
| Item 1 — Issuer Name | Cardinal Mutual Fund, Inc. |
| Item 2 — Principal Office | 50 N. LaSalle St., Chicago, IL 60602 |
| Item 3 — State and Date of Formation | Maryland; 06/01/2010 |
| Item 4 — CIK / File Number | CIK 0001456789; 1933 Act 333-201234; 1940 Act 811-22345 |
| Item 5 — Type of Security | Investment Company Act §8 (open-end) |
| Item 6 — Offering Amount | Indefinite (Rule 24f-2) |
| Item 7 — Fee | $900 ($300 × 3 series) paid by check #4471 |
| Item 8 — Consent to Service | Form U-2 attached, notarized 03/30/2026 |
| Item 9 — Sales Reporting | Annual report; FYE 12/31 |
| Item 10 — Signature | Maya Chen, General Counsel, 04/01/2026 |
How to File the Completed Form
Illinois accepts Form NF through three channels, and the channel depends on the type of issuer.
Channel 1 — NASAA Electronic Filing Depository (EFD). This is the preferred path for Rule 506(b) and Rule 506(c) issuers. Log into the EFD portal, select Illinois, complete the on-screen Form NF, attach Form U-2, and pay the $100 fee by ACH. EFD issues an instant electronic acknowledgment, which is your proof of filing. Processing time is typically 2–5 business days. Keep the EFD confirmation number and the PDF receipt indefinitely, because you may need it if Illinois investors later seek rescission.
Channel 2 — Mail. Investment companies (mutual funds, UITs, closed-end funds) must mail the package. Send to Illinois Securities Department, 421 East Capitol Avenue, 2nd Floor, Springfield, IL 62701. Include the original Form NF, the original notarized Form U-2, and a check or money order made payable to Secretary of State. Use certified mail with return receipt, because the postmark and signed green card are your only proof of timely filing. Processing time is 10–20 business days.
Channel 3 — In Person. You can hand-deliver the package to the Springfield office during business hours (8:30 a.m.–4:30 p.m. CT, Monday through Friday). Bring two copies; the clerk will date-stamp one for your records. Cash is not accepted; use a check or money order. This channel is useful when you are at the deadline edge and need a same-day file stamp.
A common misconception is that fax or email filing is accepted. It is not. The Department does not accept Form NF by fax or by email under any circumstance, and any package sent that way is deemed not filed.
What Happens After You File
Once the Department receives your Form NF, an intake clerk reviews it for completeness within 5–10 business days for paper filings and within 2–5 business days for EFD filings. If everything is in order, the filing is accepted and entered into the Department’s database, and the issuer is cleared to continue selling in Illinois.
If the package is defective, the Department mails a deficiency letter listing each problem. You typically have 30 days to cure. During the cure period, sales to Illinois residents are technically unauthorized, and any sale made in that window is voidable at the buyer’s election under 815 ILCS 5/13.
For investment companies, the notice is effective for one year from the filing date. You must file an annual renewal Form NF before the expiration date and pay another $300 per series, or sales must stop on the expiration date. The Department does not send renewal reminders, so calendar the date yourself.
A common misconception is that acceptance equals merit approval. It does not. Illinois is a notice-only state for federal covered securities, and the Department’s acceptance does not endorse the offering’s quality or compliance with federal law.
Mistakes to Avoid When Filling Out the Form
Form NF rejections almost always trace to one of the following errors. Each mistake is paired with its direct consequence.
- Using a superseded revision of the form. The Department rejects pre-2024 versions on intake, so the package is returned and the deadline keeps running.
- Entering the trade name instead of the legal name in Box 1. This causes an EDGAR mismatch and a 30-day manual review hold.
- Using a P.O. Box in Box 2. This violates the principal-office rule and triggers a deficiency notice.
- Reporting the conversion date in Box 3. This creates a date mismatch with EDGAR and delays processing by weeks.
- Leaving Box 4 (CIK / file number) blank. This is an automatic rejection because the federal exemption cannot be verified.
- Checking both Rule 506(b) and Rule 506(c) in Box 5. This is treated as an internal inconsistency and the form is returned.
- Underpaying the fee — $100 for a mutual fund instead of $300. The notice is deemed not filed and sales must stop.
- Submitting an unnotarized Form U-2. The consent is void, and the entire Form NF is defective.
- Skipping Box 9 for open-end funds. This flags the renewal and can trigger a stop order.
- Letting an unauthorized employee sign Box 10. The signature is void and the filing is treated as never made.
- Filing by fax or email. Neither channel is accepted, and the package is deemed not filed.
- Forgetting to renew an investment company notice annually. Sales become unauthorized on the expiration date, exposing the fund to rescission claims.
Do’s and Don’ts
Do’s:
- Do download the form fresh from the Illinois Securities Department site every time, because the revision date matters.
- Do file through EFD when you are eligible, because it gives you instant proof of filing.
- Do attach a fully notarized Form U-2 with every Form NF, because Illinois will not waive the consent requirement.
- Do calendar your annual renewal date for investment company filings, because the Department does not send reminders.
- Do keep the EFD confirmation or certified-mail green card for at least six years, because it is your defense against rescission claims.
- Do match the issuer name and CIK exactly to EDGAR, because intake clerks compare strings character-by-character.
Don’ts:
- Don’t use a marketing name in Box 1, because EDGAR mismatches trigger 30-day holds.
- Don’t sign Form U-2 digitally for paper filings, because Illinois requires wet-ink signatures and a physical notary seal.
- Don’t check both Rule 506(b) and Rule 506(c), because the inconsistency is grounds for rejection.
- Don’t assume Form D filing satisfies Illinois, because the state notice is independent and separately required.
- Don’t pay the wrong fee, because underpayment voids the filing and Illinois will not invoice the balance.
- Don’t mail without certified service, because lost packages mean lost proof of timely filing.
Pros and Cons of Filing on Your Own vs. With Help
Pros of filing on your own:
- Lower cost, because you avoid attorney fees that typically run $750–$2,500 per state.
- Direct control, because you decide when the package goes out and you can synchronize with your federal Form D filing.
- Faster turnaround for simple Rule 506(b) deals, because EFD makes solo filing efficient.
- Better internal knowledge, because you build in-house compliance muscle for future raises.
- No conflict of interest, because you are not depending on a third party who may be juggling other clients near your deadline.
Cons of filing on your own:
- Higher rejection risk, because first-time filers miss field-level details that experienced counsel catches.
- No malpractice safety net, because if you misfile, you bear the full rescission exposure.
- Time cost, because reading the Illinois Securities Law and the admin code takes hours.
- Multi-state complexity, because if you sold in five states, you have five different notice forms with five different fees.
- Notary logistics, because Form U-2 must be physically notarized, which is harder for remote founders.
FAQs
Is Form NF the same as Form D?
No. Form D is the federal notice filed with the SEC, and Form NF is the Illinois state notice. You must file both separately, and one does not substitute for the other.
Do I need to file Form NF if I only sold to one Illinois resident?
Yes. Even a single sale to one Illinois resident triggers the Form NF requirement under Section 2a of the Illinois Securities Law.
Can I file Form NF before I make my first Illinois sale?
Yes. You can file at any time before the first sale, and many issuers file proactively to avoid missing the 15-day post-sale window.
Is the $100 fee refundable if I withdraw the offering?
No. Filing fees paid to the Illinois Securities Department are not refundable, even if the offering is later withdrawn or terminated.
Do I write my legal name or my trade name in Box 1?
No trade names allowed. Use the exact legal name from the certificate of incorporation; trade names cause EDGAR mismatches and intake rejections.
Can I use a P.O. Box in Box 2?
No. Box 2 requires the principal office’s street address; P.O. Boxes are not accepted as the principal office.
Can I check both Rule 506(b) and Rule 506(c) in Box 5?
No. Each offering must rely on exactly one exemption, and checking both is treated as an inconsistency that causes rejection.
Do I write the aggregate amount or just the Illinois portion in Box 6?
Yes — write both. Enter the aggregate offering amount and separately the Illinois portion; the form has spaces for both numbers.
Is a digital signature acceptable on Form U-2?
No. Illinois requires a wet-ink signature and a physical notary seal on Form U-2 for paper filings; EFD has its own e-signature workflow.
Do mutual funds renew Form NF every year?
Yes. Open-end investment companies must file an annual renewal Form NF before the one-year anniversary and pay $300 per series.
Can I file Form NF by email?
No. The Department does not accept email or fax filings; only EFD, mail, and in-person filings are accepted.
What happens if I miss the 15-day deadline for a Rule 506 notice?
No safe harbor exists. Late filings expose the issuer to rescission claims by Illinois investors and possible enforcement action under 815 ILCS 5/13.
Do I need an Illinois lawyer to file Form NF?
No. Any authorized officer, general partner, or trustee can sign and file; an Illinois-licensed attorney is not required.
Does acceptance of Form NF mean Illinois approved my offering?
No. Illinois is a notice-only state for federal covered securities, and acceptance does not constitute merit review or endorsement of the offering.
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