Reg CF
Blue Sky Services
Fast and affordable state filing services for your
crowdfunding offerings
- Simplify Compliance
- File with Ease to Required States
- Expert Securities Guidance
What is Reg CF?
Regulation Crowdfunding (Reg CF), introduced by the JOBS Act, allows startups and small businesses to secure up to $5 million in funding annually from both accredited and non-accredited investors.
Key requirements:
- Comply with federal rules and any required state Blue Sky filings
- Conduct the offering on a FINRA‑registered funding portal or broker‑dealer platform.
Staying compliant keeps your raise on solid legal ground and prevents costly delays. Unlike Regulation A or D, Reg CF caps total fundraising at $5 million in any 12‑month period and layers in platform, disclosure, and investor‑protection rules. Issuers must file Form C, follow ongoing update and closing requirements, and complete any required state Blue Sky notices and fees tied to sales in specific states.
Key points:
- Investor participation is limited by income and net worth, which affects how much each person can invest.
- Issuers must disclose financials, risks, and business details in Form C and keep that information current.
Reg CF State Filings
Federal law preempts most state registration for Reg CF, but several states still require notice filings and fees tied to sales in their jurisdiction. These filings alert state regulators to your crowdfunding activity and keep your campaign on solid footing as investments come in.
Reg CF Requirements
Many states require a Reg CF blue sky notice filing, supporting documents, a state fee, and a deadline tied to your launch or first sale (often within 15 days). Expect to provide your Form C and, in some states, a Form U‑2 and a short state notice form.
Submit required Notice Filings and required documents to the States
Paying a filing fee, which varies by state.
Filing deadlines, range from immediately upon Form C submission to within 30 days after the offering.
Comprehensive Support
We handle the entire Reg CF blue sky process for you—from mapping required states to managing filings, deadlines, and regulator follow‑up—so you can stay focused on raising capital.
What you can expect from us
State-by-state deadline and requirement tracking to prevent late notices or sale restrictions
State-specific expertise that reduces avoidable rejections and repeat filings
Regulator correspondence, amendments, and closing or renewal steps fully handled for you
Blue Sky Comply tracks state-specific requirements to ensure compliance with Blue Sky laws.
Form C Filing to the SEC
Before you launch a Reg CF offering, you must file Form C with the SEC. Form C is the public disclosure that explains who you are, what you’re offering, and the risks investors should weigh. File it before the campaign goes live, and amend it if any material information changes during the raise.
What Form C typically includes
- Company details: legal name, business address, industry, and corporate structure
- Management and ownership: backgrounds and relevant disclosures, including any reportable violations
- Financial statements: tiered requirements that may include an independent CPA review or an audit based on offering size
- Risk factors: clear, specific risks tied to your business and the investment
- Offering terms: security type, target amount, maximum amount, pricing or valuation method, and use of proceeds
- Keep versions organized for any amendments triggered by material changes
Ready to keep your Reg CF compliant?
Make sure every state requirement is followed properly. Get expert Blue Sky support so your campaign launches clean and stays on track.
Best Practices
A little structure goes a long way. Use these habits to keep your Reg CF Blue Sky obligations clean and defensible.
Track deadlines by state
Note each state’s trigger (launch, first sale, or pre‑sale) and due date. Late notices can lead to penalties or sale restrictions.
Verify requirements up front
States differ on forms, fees, and payment methods. Confirm what’s needed before you launch and when you expand into new states
Maintain accurate records
Keep submission receipts, payment proofs, email confirmations, and any examiner correspondence in one place. Retain final copies of all filings and amendments.
Keep disclosures current
If your Form C changes materially, update it and make any required state amendments promptly.
Consult experienced professionals
A Blue Sky specialist can scope fees, prepare filings, and respond to regulators so you stay in good standing while focusing on your raise.
Consequences of Non‑Compliance
Missing state notices or deadlines can derail a Reg CF raise. States may assess monetary penalties, pause or bar sales to their residents, and in serious cases pursue enforcement actions. Even when issues are fixable, the delay and uncertainty can chill investor interest.
Key risks:
Fines range from $100 to several thousand dollars per violation.
Inability to sell securities in the affected state until cured.
Potential investigations or enforcement by state regulators.
Reputational damage and loss of investor trust.
Quick mitigation
Document all filings and payments, track key deadlines, respond quickly to regulators, and fix any slips fast while keeping investors informed.
Benefits of Reg CF Blue Sky Services
Compliance Management
We handle state-by-state filings, forms, and fees so your campaign aligns with federal rules and Blue Sky requirements.
Risk Mitigation
Timely, accurate notices and payments reduce the risk of penalties, sale restrictions, or enforcement actions.
Expert Guidance
Practical support from securities specialists who know Reg CF—and what each state expects.
Resource Optimization
Keep your team focused on growth while we manage filings, deadlines, and documentation.
Streamlined Process
We help manage compliant filings, providing proof and detailed records for future compliance and audit needs.
System Notifications
Enable automated reminders for filing deadlines, state fee estimates, and Blue Sky notices. Our full-service team can set this up on request.
Get Started
compliance, efficient filings, and expert
support so you can focus on growth.