Filing fees are the costs associated with private markets transactions. All Deals on Seed Labs— from SAFE+, to SPVs, to funds, are subject to these filing fees due to US regulatory requirements.

While others often shroud these fees in obfuscation and mark them up as "administrative" fees, we like doing things differently. We transparently disclose these filing fees, and pass them down to our customers at no markup. We're able to do this because of our unique ability to automate the entire filing process with no manual labor on our end.

Try out the calculator

To best model exactly how much in filing fees you might pay, try out our Filing Fee Calculator here.

Breakdown of fees

There are three types of filing fees that are incurred:

Blue Sky Filing Fees: Variable

Blue Sky fees are fees charged by each state that you're selling securities in. Every state has their own fee schedule, and they are updated periodically. You can view the latest fee schedule here.

EFD Filing Fee: $25

Deals on Seed Labs use the SEC's Regulation D exemption, and as such require us to file a Form D with the SEC. These must be notarized, which costs $25.

EFD System Use Fee: $160

The EFD System Use Fee is a fee charged by the SEC for using their system to file the Form D. This fee is fixed at $160.

Stable Filing Fees

While many customers enjoy that Seed Labs doesn't mark up these fees and passes them down transparently, dealmakers that commit to a precise dollar amount to invest may be concerned about the variability of these fees as they don't know what states their investors are from.

To address this, we offer a Stable Filing Fee option, which allows you to pay a fixed $3000 fee upfront before you begin fundraising. Seed Labs will then cover any additional filing fees incurred beyond this amount.