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Do sole proprietors need to complete both the firm and individual applications?

April 26, 2017applications COMPLETE firm individual proprietors sole

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Do sole proprietors need to complete both the firm and individual applications?

2 Answers

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Yes, a sole proprietor, i.e., an individual who intends to act as an FCM, IB, CPO or CTA, is considered to be a firm, not an individual. Therefore, a sole proprietor applicant must file the electronic Form 7-R for the sole proprietorship and the electronic Form 8-R to list the sole proprietor as a principal or to become an AP of the firm. The sole proprietor must also file the electronic verification of the Form 8-R.

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Posted

Yes. A sole proprietor, i.e., an individual who intends to act as an FCM, IB, CPO or CTA, is considered to be a firm, not an individual. Therefore, a sole proprietor applicant must file the electronic Form 7-R for the sole proprietorship and the electronic Form 8-R to list the sole proprietor as a principal or to become an AP of the firm. The sole proprietor must also file the electronic verification of the Form 8-R.