Blue Sky fees, explained
State-level securities filing fees that apply when residents of a state invest in your SPV or fund — handled by Allocations in one workflow with your Form D.
What are Blue Sky fees?
Blue Sky Laws are state-level, anti-fraud regulations that require issuers of securities to be registered and to disclose details of their offerings. Each state has their own regulations and fees.
While Form D is a federal requirement, Blue Sky laws operate at the state level. Most states require a notice filing when residents invest in an SPV — these filings often reference your federal Form D. Deadlines vary by state but usually fall within 15–30 days of the first sale to an investor in that state.
States charge filing fees ranging from roughly $100 to $1,200, which must be budgeted into SPV costs. For a typical SPV, expect $500–$1,500 in Blue Sky fees depending on investor locations. Raising from investors in multiple states means multiple Blue Sky filings, each with its own quirks.
How Allocations handles Blue Sky compliance
One streamlined workflow
With Allocations, SPV sponsors can handle both Form D and Blue Sky compliance in one streamlined workflow — turning a potential headache into a predictable, automated process.
Deadlines tracked
State notice filings usually fall within 15–30 days of the first sale to an investor in that state — automation minimizes the manual error of tracking each one.
Budget with confidence
State fees range from roughly $100 to $1,200 each; a typical SPV budgets $500–$1,500 in Blue Sky fees depending on where investors reside.
Ready to get started?
Blue Sky Fees by State
State-by-state filing fees for securities offerings. Blue Sky laws are state regulations designed to protect investors against securities fraud.
Disclaimer: The information presented on this page is for informational and educational purposes only and should not be interpreted as legal, tax, investment, accounting, or financial advice. Fee data may change over time and can vary depending on jurisdiction, provider, deal structure, fund size, and regulatory requirements. Users should independently verify all information and consult qualified legal, tax, or financial professionals before making any decisions.
Blue Sky FAQs
Do I need Blue Sky filings if I already filed Form D?
Yes. Form D ensures your SPV is properly exempt under federal securities law; Blue Sky filings ensure compliance with each state where investors reside. Both are needed.
When are Blue Sky filings due?
Deadlines vary by state but usually fall within 15–30 days of the first sale to an investor in that state.
How much should I budget?
State filing fees range from roughly $100 to $1,200 each. A typical SPV budgets $500–$1,500 in Blue Sky fees depending on investor locations.
See what Allocations customers have to say about us
“We were very impressed by how Allocations handled our SPV. We’ve tried almost all the existing platforms, and Allocations was by far the best of the breed. Thank you! We firmly believe that Allocations can become the new standard in fund creation and management.”
“Thank you team Allocations for making my climate tech dream for the average investor a reality and helping us solo GPs sleep better at night.”
“Helios Capital is proudly powered by @AllocationsInc! Kachow Lightning McQueen! As my daughter would say.”
Request a demo today
Start building private equity products today with Allocations.