Since 1979, the SEC has required each registered investment adviser to deliver a written disclosure statement to clients pursuant to Rule 204‑3 under the Investment Advisers Act of 1940. Part 2A of Form ADV sets out minimum requirements for that disclosure statement, but in general, it requires advisers to disclose material facts; conflicts of interest; and risks to clients and investors. Over the years, Form ADV has been revised significantly, including through changes to the format of Part 2A and an expansion of the scope of the information it requires. As a result, it is easy for fund managers that are registered advisers to make mistakes on their Parts 2A, such as omitting required information or providing information that is inconsistent with other disclosures. Getting any part of Form ADV wrong can result in deficiency letters – and even enforcement actions. This article reviews the basics of Form ADV; discusses the possible consequences of mistakes on the filing; and provides a checklist developed by Victoria Hogan, president of NorthPoint Compliance and former SEC examiner, that advisers can use to evaluate their own Parts 2A and ensure the forms are accurate and complete. For more from Hogan, see “Risk Alert Warns of Six Most Frequent Fee and Expense Compliance Issues” (May 3, 2018). See also “SEC Sanctions Adviser for Undisclosed Conflicts and Misleading Form ADV” (Jul. 13, 2021).