RIA Glossary / Registration & Formation

Form ADV-W (Withdrawal)

Quick Answer
Form ADV-W is the form an investment adviser files to formally withdraw its registration with the SEC or a state, typically when the firm ceases operating as an investment adviser, merges into another firm, or no longer meets the threshold requiring registration.
Reviewed by Sam Carter, Director of Registration Services
Last reviewed September 18, 2026

What Is Form ADV-W?

Filing Form ADV-W doesn’t happen instantly — it’s subject to a review period, and full withdrawal generally isn’t effective until 60 days after filing for state registrations, giving regulators time to raise questions if needed. Firms withdrawing due to a merger, acquisition, or business closure need to coordinate the timing of the ADV-W with other transition obligations, including client notifications and, if applicable, ensuring a successor firm or adviser is properly registered to take over client relationships.

Firms should also consider record retention obligations that continue even after withdrawal, since certain books and records requirements under Rule 204-2 don’t simply end when registration is withdrawn.

Why it Matters

Withdrawing registration is a formal process with its own timeline and continuing obligations — treating it as a simple final step rather than a transition to manage can leave gaps in client communication or recordkeeping.

Frequently Asked Questions

How long does withdrawal take to become effective?

Generally around 60 days for state registrations after filing, giving the regulator time to review; SEC withdrawal timing can vary.

Do I still need to keep records after withdrawing?

Yes — certain recordkeeping obligations under the Books and Records Rule continue for a period even after registration ends.
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Related Terms

Regulation S-P

What Is Regulation S-P? Regulation S-P requires two main things: a privacy notice given to clients

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