NAICS 2022 subsector USA Verified: Census NAICS 2022 · 2023-03-17
523
NAICS 523 — Securities, Commodity Contracts, and Other Financial Investments and Related Activities
Securities, Commodity Contracts, and Other Financial Investments and Related Activities
NAICS 523 is the subsector code for securities, commodity contracts, and other financial investments and related activities establishments in the United States. It forms part of the hierarchical North American Industry Classification System maintained by the Census Bureau.
Official data
| Feature | Description |
|---|---|
| Official name | North American Industry Classification System (NAICS) 2022 |
| Issuing authority | U.S. Census Bureau with OMB, Statistics Canada, and INEGI |
| Tax authority | Internal Revenue Service (IRS) |
| Purpose | Statistical business classification and federal contracting (SAM.gov, SBA standards) |
| Used in | SAM.gov registration, SBA size determinations, IRS tax classification, SEC EDGAR (via SIC crosswalk) |
| Active since | 2022 (current edition) |
| Hierarchy level | Sector (2-digit) |
| Source | https://www.census.gov/naics/ |
When do you need NAICS 523?
1 Registering on SAM.gov for federal contracting — enter NAICS 523 as your primary industry code.
2 Checking whether the SBA size standard for securities, commodity contracts, and other financial investments and related activities applies to your business for set-aside contracts or loans.
3 Classifying your main line of business when applying for grants, contracts, loans, or market research surveys.
4 Comparing this code against legacy NAICS 2017 records or related SIC codes for historical data alignment.
NAICS hierarchy path
Trace the classification from the broadest sector down to this national industry code.
Cross-references & crosswalks
How to register a securities, commodity contracts, and other financial investments and related activities business in the US
1
Verify NAICS classification
Confirm that Securities, Commodity Contracts, and Other Financial Investments and Related Activities accurately describes your financial services activity.
2
Register with federal regulator
SEC registration for investment advisers, FINRA for broker-dealers, OCC for national banks.
3
Apply for state-level license
Most financial activities require state securities or banking division licensing in addition to federal registration.
4
Implement AML/KYC compliance program
Anti-money laundering and know-your-customer protocols per Bank Secrecy Act requirements.
5
File FinCEN BOI report
Beneficial Ownership Information for most LLCs and corporations under the Corporate Transparency Act.
US Tax Forms & Registration
| Form Name | Who Files It | Frequency |
|---|---|---|
| Profit or Loss from Business | ||
| U.S. Return of Partnership Income | ||
| U.S. Corporation Income Tax Return | ||
| U.S. Income Tax Return for an S Corporation | ||
| Self-Employment Tax | ||
| Estimated Tax for Individuals | ||
| Application for Employer Identification Number (EIN) | ||
| Entity Classification Election | ||
| Nonemployee Compensation | ||
| Employer's Annual Federal Unemployment (FUTA) Tax Return | ||
| Employer's Quarterly Federal Tax Return | ||
| Request for Taxpayer Identification Number and Certification |
Entity Comparison
$
No federal sales tax in the United States. Sales tax is imposed at state and local levels, ranging from 0% to 10.25%. Economic nexus thresholds (following South Dakota v. Wayfair) require out-of-state sellers to collect sales tax once they exceed a state's revenue or transaction threshold, typically $100,000 in sales or 200 transactions per year.
No state income tax: Alaska (AK), Florida (FL), Nevada (NV), New Hampshire (NH), South Dakota (SD), Tennessee (TN), Texas (TX), Washington (WA), Wyoming (WY)
Who uses this code?
Tax Preparation Service
Prepares individual and small business tax returns seasonally or year-round.
Licenses
- ●PTIN (IRS Preparer Tax ID)
- ●EFIN (for e-filing)
- ●State preparer registration
Tax Forms
- ●Schedule C (Form 1040)
- ●Schedule SE (Form 1040)
- ●Form 1040-ES
Bookkeeping Service Provider
Offers outsourced bookkeeping, reconciliation, and financial statement preparation for small businesses.
Licenses
- ●Business license
- ●E&O insurance
- ●QuickBooks/accounting certification (optional)
Tax Forms
- ●Schedule C (Form 1040)
- ●Schedule SE (Form 1040)
Mortgage Broker
Originates and brokers residential and commercial mortgage loans across multiple lender networks.
Licenses
- ●NMLS license
- ●State mortgage broker license
- ●Surety bond
- ●E&O insurance
Tax Forms
- ●Schedule C or 1120-S
- ●Schedule SE
- ●Form 1099-NEC
Registered Investment Advisor (RIA)
Operates an SEC- or state-registered advisory firm managing client portfolios with fiduciary duty.
Licenses
- ●Series 65
- ●SEC/state RIA registration
- ●Form ADV filing
- ●Compliance program
Tax Forms
- ●Form 1120-S
- ●Form 1099-NEC
- ●State franchise tax
Who is this code for
Occupations and roles commonly associated with this classification
11-3031.00Financial ManagersView occupation →13-2052.00Personal Financial AdvisorsView occupation →41-3031.00Securities, Commodities, and Financial Services Sales AgentsView occupation →
Also relevant for
Source: O*NET / BLS occupation data · O*NET 30.2 / BLS SOC
Child codes (3)
Frequently asked questions
- What is NAICS 523?
- NAICS 523 is the North American Industry Classification System code for Securities, Commodity Contracts, and Other Financial Investments and Related Activities. It classifies this business activity for statistical, regulatory, and government procurement purposes. Federal agencies use NAICS codes to collect and publish data about the US economy, determine SBA size standards, and set aside contracts for small businesses.
- What licenses and permits does a Securities, Commodity Contracts, and Other Financial Investments and Related Activities need?
- A Securities, Commodity Contracts, and Other Financial Investments and Related Activities typically needs a local business license, a federal EIN from the IRS, and industry-specific permits depending on the sector. Check with your city or county clerk for a general business license, your state's professional or industry licensing board for any required occupational licenses, and your state's tax authority for a sales tax permit if you sell taxable goods or services.
- How do I register a Securities, Commodity Contracts, and Other Financial Investments and Related Activities business in the United States?
- To register a Securities, Commodity Contracts, and Other Financial Investments and Related Activities business, first choose your legal structure: sole proprietorship (simplest, uses SSN), LLC (personal liability protection, files with your Secretary of State), or corporation (Form 1120 or 1120-S). Register your business name (DBA) with your county if operating under a trade name. Obtain an EIN from the IRS at irs.gov/ein. Register with your state revenue department for any applicable taxes.
- What tax forms does a Securities, Commodity Contracts, and Other Financial Investments and Related Activities file with the IRS?
- Tax forms depend on your entity type. A sole proprietor files Schedule C with Form 1040 and Schedule SE for self-employment tax (15.3%). An LLC taxed as a partnership files Form 1065 with Schedule K-1s. A C-Corporation files Form 1120 (21% flat rate). An S-Corporation files Form 1120-S. All businesses paying employees file Form 940 (FUTA) annually and Form 941 quarterly. Estimated tax payments are made via Form 1040-ES four times per year.
- Is Securities, Commodity Contracts, and Other Financial Investments and Related Activities the right NAICS code for my business?
- Your NAICS code should reflect your primary business activity — the one generating the most revenue or value. If Securities, Commodity Contracts, and Other Financial Investments and Related Activities describes your main line of business, NAICS 523 is likely correct. If you have multiple distinct activities, you may need separate codes for statistical reporting. For federal contracting, your SAM.gov registration should use the code that best matches the work you perform. Review the official NAICS 523 description and exclusions to confirm it fits your operations.
- What anti-money laundering (AML) requirements apply to a Securities, Commodity Contracts, and Other Financial Investments and Related Activities?
- Under the Bank Secrecy Act (BSA), financial institutions including money services businesses (MSBs), broker-dealers, casinos, and investment companies must implement a written AML compliance program with five pillars: internal controls, a designated BSA compliance officer, ongoing employee training, independent testing, and customer due diligence (CDD). MSBs must register with FinCEN within 180 days of starting. CTR (Currency Transaction Report) for cash transactions over $10,000; SAR (Suspicious Activity Report) within 30 days of detection.
- What state money transmitter license does a Securities, Commodity Contracts, and Other Financial Investments and Related Activities need?
- If your business transmits money, issues payment instruments, or processes payments on behalf of others, you likely need a money transmitter license in each state where you operate. Requirements include a surety bond ($25K to $500K+ depending on volume), audited financial statements, net worth minimums ($50K-$1M), and AML/BSA compliance program. As of 2025, 49 states plus DC require licensing. Some states participate in multi-state agreements for coordinated review.
- Does a Securities, Commodity Contracts, and Other Financial Investments and Related Activities need professional liability (E&O) insurance?
- Most financial services professionals carry Errors & Omissions (E&O) insurance, which is often a regulatory or contractual requirement. State insurance producer licensing typically requires E&O. Broker-dealers must maintain fidelity bond coverage. Accountants and tax preparers should carry E&O to protect against client claims of negligence. Typical limits range from $1M-$5M depending on client type and exposure.
- What continuing education does a Securities, Commodity Contracts, and Other Financial Investments and Related Activities need to maintain licensing?
- Continuing requirements vary by profession. FINRA registered representatives complete annual Regulatory Element training plus firm-specific Firm Element. Insurance producers complete 24 CE hours biennially in most states (including 3 hours ethics). CPAs meet state board CPE requirements (typically 80 hours over 2 years). Mortgage loan originators complete 8 hours NMLS-approved CE annually. Series 65/IARs meet state-specific CE. Failure to complete CE results in license suspension.