How It Works

A 100,000 Foot View

The Sheltered Harbor Specification covers the operational and technical requirements for protecting consumer account data. As you might guess, the concepts are simple, but the devil is in the details. The Sheltered Harbor Specification gets into all of the details. Below is high-level view of the overall process:

Consumer data stored in a Sheltered Harbor data vault is kept private by each institution, encrypted and protected from change. The Sheltered Harbor model assumes no central repository for protected accounts.

In order to ensure that all Sheltered Harbor Participants implement the solution properly, and continuously archive critical data in accordance with the Specification, a well-defined adherence framework and reporting requirements have been established.

Participants have access to the full Sheltered Harbor Specification through the Sheltered Harbor Content Portal. This specification is meant to provide participating institutions with information required to be Sheltered Harbor compliant for retail banking, credit union and brokerage accounts.  

ABA Video - 1/15/2018

Join as Bank or Credit Union

For banks and credit unions, Participant fees are determined based on both Participants’ Total US Banking Assets and Participant’s Total US Deposit Accounts to more accurately reflect bank size. Below describes current fees applying at each level of Participant’s assets and accounts.

Annual Fee Assessment Schedule for Banks and Credit Unions

 Assets

 Accounts 

 Fee 

Join Sheltered Harbor
On-Line
Download 
 <$100MM  and   <10K  $250       007 monitor 1          OR        Download $250 Agreement
 <$1B  and    <500K  $500        007 monitor 1          OR       Download $500 Agreement
 >500K  $2,500       007 monitor 1          OR       Download $2500 Agreement
 $1B - $50B    and   <500K  $2,500       007 monitor 1          OR       Download $2500 Agreement
 >500K  $10,000       007 monitor 1          OR       Download $2500 Agreement
 >$50B  and  <1M  $10,000       007 monitor 1          OR       Download $2500 Agreement
 >1M  $25,000       007 monitor 1      OR       Download 25000 Agreement

If your operations include brokerage and/or asset management accounts, please check those fee schedules as well, because you will pay a single fee based on the larger of the banking or brokerage or asset managent fee calculation.

Join as Broker

For securities firms, Participant fees are determined based on both Client Assets* and the Number of Clearing Clients. The schedule below describes current fees applying at each level of Participant’s assets and accounts.

Annual Fee Assessment Schedule for Securities Firms

 Client
 Assets*

 Clearing
 Clients

 Fee 

Join Sheltered Harbor
 On-Line
Download 

 <$100MM

 and 

 <1 (self clearer)      

 $2,500

     007 monitor 1    

 OR 

      Download $2500 Agreement

 <$10B

 and  

 <50

 $5000 

     007 monitor 1    

 OR

      Download $5000 Agreement

 50 - 100

 $10,000 

     007 monitor 1    

 OR

      Download 10000 Agreement

 $10B - $200B  

 and 

 <20

 $10,000 

     007 monitor 1    

 OR

      Download 10000 Agreement

 >20

 $25,000 

     007 monitor 1    

 OR

      Download 25000 Agreement
 >$200B    or   >100  $25,000       007 monitor 1     OR       Download 25000 Agreement

* Including discretionary and non-discretionary assets

If your operations include banking and/or asset management accounts, please check those fee schedules as well, because you will pay a single fee based on the larger of the banking or brokerage or asset managent fee calculation.

Join as an Asset Manager

For Asset Managers, Transfer Agents and Recordkeepers,  Participant Fees are determined based on AUM or Plan Assets.  The schedule below describes current fees applying at each level of Participant's AUM or plan assets.

Annual Fee Schedule for Asset Managers, Transfer Agents, and Recordkeepers

AUM or Plan Assets    Fee   Join Sheltered Harbor 
On-Line Download
 <$20B  $2,500      007 monitor 1      OR        Download 2500 Agreement
 $20B - $50B  $5,000      007 monitor 1      OR       Download 5000 Agreement
 $50B - $200B  $15,000       007 monitor 1      OR       Download 15000 Agreement
 > $200B  $25,000       007 monitor 1      OR       Download 25000 Agreement

If your operations include banking and/or brokerage accounts, please check those fee schedules as well, because you will pay a single fee based on the larger of the banking or brokerage or asset managent fee calculation.

ICBA Video - 9/11/2018