FINRA Trading Activity Fee: 2026 Rates, Examples, and Scope

How to verify a TAF charge on a statement

Start with the execution date, security type, quantity, and whether the transaction was a sale. The TAF generally applies to covered sales reported by a FINRA member, so a purchase should not be treated as an identical event. Match the transaction to the rate and per-trade maximum that were effective on that date. Do not use a current rate to recreate a charge from an earlier year because FINRA adjusts the schedule over time.

Next, reproduce the broker's arithmetic. For an equity sale, multiply the number of covered shares by the applicable per-share rate, then apply the transaction cap. For options, use the covered-contract rate. Debt calculations can use a different unit and cap, so the equity formula should not be copied across asset classes. Rounding practices and the way a firm aggregates executions may also affect a displayed line item.

If the amount still does not reconcile, read the broker's fee schedule and customer agreement before assuming the charge is incorrect. FINRA assesses the member firm, while the firm's disclosures determine whether and how it passes the cost to a customer. A broker may use a label that combines regulatory charges, so the statement line may not represent only the TAF. Ask the broker for a written breakdown showing the security, rate, quantity, cap, and any other fee included.

Keep the response with the confirmation and monthly statement. Investors should not submit or amend regulatory reports themselves based on this guide; reporting responsibility belongs to the member firm. For an authoritative answer about scope, exemptions, or aggregation, use FINRA's current TAF FAQ and Schedule A rather than relying on a simplified example.

Rate-change and recordkeeping checklist

• Confirm the official effective date of the rate, not merely the date an adjustment was announced.
• Preserve the trade confirmation because quantity, capacity, and execution date can affect the review.
• Separate SEC transaction fees, exchange fees, commissions, and TAF amounts when the broker itemizes them.
• Escalate unresolved discrepancies through the broker's support or compliance channel with the calculation attached.

Why statement amounts can differ from examples

A public example usually assumes one clean execution, while a real order may be split across venues or completed in several transactions. The broker's system may apply a cap by transaction, aggregate covered volume under its reporting rules, or round the displayed charge. Corporate actions and corrections can also change the final quantity. These details are reasons to request the broker's calculation rather than forcing the statement into a simplified formula.

Rates and caps should always be labeled with their effective year. When preparing an educational comparison, archive the official FINRA schedule used, note the access date, and avoid presenting a rate as permanent. A later correction or adjustment should be documented without rewriting the historical calculation as though the new rate had applied earlier.

Frequently asked questions

Is the TAF the same as the SEC transaction fee?

No. They are separate assessments with different legal bases, rates, and scopes.

Does every broker pass the TAF to customers?

Not necessarily. Review the broker’s current fee schedule and customer agreement to see whether and how regulatory fees are passed through.

How often do the rates change?

FINRA can adjust the rates according to its approved schedule. Use the effective-date table on FINRA’s site for a calculation covering a different year.

Sources and Further Verification

• FINRA: TAF Fee Adjustment Schedule
• FINRA: Trading Activity Fee FAQ
• FINRA By-Laws, Schedule A

Rates verified September 1, 2026. Check FINRA for later adjustments before using these figures operationally.