Form 497AD Filings

What Is SEC Form 497AD?

SEC Form 497AD is a filing category used by certain investment companies to submit Rule 482 advertising materials in accordance with Securities Act Rule 497 and the Note to Rule 482(c). It is typically used when an investment company distributes an advertisement or marketing communication that must be filed with the SEC under the Rule 482 framework.

This form is generally filed in connection with registered investment products, where advertising materials must be submitted on EDGAR Filings. A Form 497AD filing may include the advertisement content itself and related identifying information, and it is often used when the filer is making a required filing of a Rule 482 advertisement pursuant to the applicable Rule 497 paragraph.

Form 497AD supports transparency by making required investment company advertising materials publicly available through EDGAR. The filing is event-driven and tied to the creation and use of the advertisement, rather than a recurring periodic reporting schedule.

Key elements typically found in SEC Form 497AD include:

• Name of the investment company or registrant and related identifying information
• Securities Act file number and/or Investment Company Act file number, as applicable
• Reference to the applicable Rule 497 paragraph under which the materials are filed
• Identification that the submitted materials are Rule 482 advertising
• Date of first use or distribution of the advertising materials, when applicable
• The advertising materials (text, images, or other content) being filed on EDGAR

SEC Form 497AD Filing Deadlines

SEC Form 497AD is filed on an as-needed basis when a Rule 482 advertisement is required to be submitted under the Rule 497 framework. Timing depends on when the advertising materials are first used or distributed and the specific Rule 497 paragraph being relied upon.

Key Things to Know About Form 497AD Filing Rules

• Delisting Approval Required: A company cannot file Form 497AD without an applicable investment company filing context and a Rule 482 advertisement required under the Rule 497 framework.
• Form 25 Is Not Full Deregistration: While Form 497AD makes required advertising materials publicly available on EDGAR, it does not replace or eliminate other required investment company filings, including prospectus and post-effective amendment filings that may also apply.
• Investor Disclosure Still Matters: Rule 482 advertising materials are filed to support investor access and transparency by ensuring the submitted promotional communications can be reviewed alongside other public filing records.
• Reporting Obligations May Continue: Form 497AD is an event-driven submission type and does not alter an investment company’s ongoing reporting, registration statement maintenance, or other EDGAR filing obligations.
• Used in Multiple Scenarios: Form 497AD may be used for different kinds of Rule 482 advertising submissions depending on the investment product, distribution method, and the specific Rule 497 paragraph under which the materials are filed.

To monitor investment company advertising filings and related submission activity, our platform helps you track filings across the SEC form type directory and review trends through the Form 497 filings list.