An IB is an individual or organization which solicits or accepts orders to buy or sell futures contracts or commodity options but does not accept money or other assets from customers to support such orders.

Registration is required unless:

1. You are registered as and acting in the capacity of an AP or
2. You are registered as an FCM or
3. You are registered as a CPO and only operate pools or
4. You are registered as a CTA and either solely manage accounts under powers of attorney or don't receive per-trade compensation.

An IB is required to file the following:

• A completed online Form 7-R.
  
• A completed online Form 8-R, fingerprint card and fee of $85 for each individual principal. Fingerprint card and fee are not required if such person is currently registered with the CFTC in any capacity or is listed as a principal of a current CFTC registrant.
  
• Individual principals and branch office managers who are applying for registration as an associated person must satisfy all applicable filing requirements. Also, for each branch office manager proof of passage of the futures branch office manager examination (Series 30) or sponsorship by a broker-dealer and proof of having met the branch office manager requirements of the Financial Industry Regulatory Authority.
  
• A completed Form 1-FR-IB (Part A) or FOCUS Report (certified audit) or a completed Guarantee Agreement (Form 1-FR-IB Part B) from an FCM.
  
• If applying as an Independent IB (Non-guaranteed), a statement describing the source of the current assets of the IB applicant combined with a representation that the applicant's capital has been contributed for the purpose of operating the business of an IB and will continue to be used for that purpose.
  
• A non-refundable registration fee of $200.

If SEC-registered broker-dealers limit their futures-related activities to the sale of security futures products on contract markets or derivative transaction execution facilities, they can become an IB by filing a completed Notice Form 7-R.