What HSR BP is and when you can get money back

HSR BP stands for Hart-Scott-Rodino (HSR) filing fee paid to the Bureau of Prisons — though the term is often used loosely to describe HSR refunds in general. The Hart-Scott-Rodino Act requires companies planning large mergers or acquisitions to notify the Federal Trade Commission (FTC) and pay a filing fee before the deal closes. If the transaction is abandoned, restructured, or withdrawn before closing, you may be may have access to to a refund of part or all of that fee.

The refund amount depends on when you withdraw or abandon the deal. The FTC has a tiered refund schedule: if you withdraw before the initial waiting period ends, you get a larger refund; if you withdraw after that period, the refund is smaller. The exact percentages and timelines are set by FTC rules and change based on the fiscal year.

HSR refunds are not automatic. You must request the refund in writing, and the FTC processes these requests through its Bureau of Competition. The timeline from request to receipt typically ranges from 30 to 90 days, depending on the complexity of your case and current FTC workload.

Key Takeaways

  • HSR refunds are issued only when a merger or acquisition deal is withdrawn, abandoned, or restructured before closing, and you must request the refund in writing.
  • The refund amount depends on when you withdraw — earlier withdrawals receive a higher percentage of the original filing fee back.
  • You submit your refund request to the FTC's Bureau of Competition, not to a bank or payment processor.
  • Processing typically takes 30 to 90 days from the date the FTC receives your written request.
  • The refund is sent by check to the address you provide in your request letter.

How to request an HSR refund from the FTC

Start by writing a formal letter to the FTC's Bureau of Competition. The letter should include your original HSR filing number, the date you filed, the names of the companies involved, the date the deal was abandoned or withdrawn, and the reason for the withdrawal. Be clear and factual — the FTC uses this information to verify your may be able to access and calculate the correct refund amount.

Mail your request to the Federal Trade Commission, Bureau of Competition, 600 Pennsylvania Avenue NW, Washington, DC 20580. Include a copy of your original HSR filing confirmation or receipt if you have it. If your company's legal counsel or an outside firm handled the filing, they may have the filing number and documentation — contact them first to gather what you need.

Keep a copy of your letter and note the date you mailed it. The FTC does not send an acknowledgment receipt, so you will not know your request arrived until you receive a response. If you do not hear back within 90 days, you can contact the Bureau of Competition by phone at 202-326-3300 to check the status.

Refund amounts and the FTC's withdrawal schedule

The FTC publishes a refund schedule each fiscal year that determines what percentage of your filing fee you receive back. The schedule is based on when you withdraw relative to the initial waiting period — typically 30 days from the date the FTC receives your filing. If you withdraw before that period ends, you receive a higher percentage; if you withdraw after, the percentage is lower.

For example, in recent fiscal years, withdrawals made before the end of the initial waiting period have received refunds of 50% to 75% of the filing fee, while withdrawals after that period received 25% to 50%. These percentages vary year to year, so the exact amount you receive depends on the fiscal year in which you filed and when you withdrew.

The current filing fee for HSR transactions is set by the FTC and adjusted annually. As of recent years, fees range from roughly $100 to over $100,000 depending on the size of the transaction. The FTC website publishes the current fee schedule and the refund percentages for the current fiscal year.

How the FTC sends your refund

Once the FTC approves your refund request, they issue a check payable to the company or individual who filed the original HSR notification. The check is mailed to the address you provided in your refund request letter. There is no option to receive the refund by direct deposit or electronic transfer — the FTC sends refunds by check only.

The check typically arrives within 2 to 4 weeks after the FTC approves your request, though this can vary depending on postal delays and FTC processing speed. Once you receive the check, you deposit it like any other business check through your bank.

If the check is lost or damaged in the mail, contact the Bureau of Competition with the check number (if you have it) and the date it was issued. The FTC can issue a replacement check, though this process may add another 2 to 4 weeks to your timeline.

What to do if your refund is delayed or denied

If you have not received a response from the FTC within 90 days of mailing your request, call the Bureau of Competition at 202-326-3300. Have your filing number and the date you mailed your request ready. The staff can tell you whether your request was received, is under review, or has been processed.

The FTC may deny your refund request if you do not meet the withdrawal criteria — for example, if the deal closed rather than being abandoned, or if your request was submitted after the deadline for that fiscal year. If your request is denied, the FTC will send you a letter explaining the reason. You can respond in writing with additional documentation if you believe the denial was incorrect.

If the deal was restructured rather than abandoned, the refund calculation may be more complex. In these cases, the FTC may request additional documentation to determine whether you are may have access to to a refund and in what amount. Provide any documents they request promptly to avoid further delays.

Tracking your refund status with the FTC

The FTC does not offer an online tracking system for HSR refund requests. Your only options are to call the Bureau of Competition at 202-326-3300 or to wait for written correspondence from the FTC. When you call, have your filing number, company name, and the date you submitted your request available.

The FTC's website includes a list of all HSR filings and their status, but this shows whether a deal closed or was abandoned — not the status of your refund request. You can search the FTC's HSR database at www.ftc.gov/hsr to confirm that your filing is recorded correctly, but this will not tell you whether your refund has been processed.

Common reasons HSR refunds are delayed or rejected

The most common reason for delay is incomplete information in the refund request letter. If you do not include your filing number, the date of withdrawal, or the names of the companies involved, the FTC may send your request back for clarification. This adds 2 to 4 weeks to the timeline. To avoid this, include every piece of information you have about the original filing.

Refund requests are rejected when the deal actually closed rather than being abandoned or withdrawn. If the companies completed the merger or acquisition, you are not may have access to to a refund under FTC rules. Similarly, if you request a refund after the deadline for that fiscal year has passed, the FTC will deny the request. The deadline is typically the end of the fiscal year in which the withdrawal occurred.

Another common issue is a mismatch between the name on the refund request and the name on the original HSR filing. If your company changed its legal name, merged with another company, or was acquired, make sure your request letter explains this and includes both the old and new names. Provide documentation of the name change if you have it.

Frequently Asked Questions

Can I get an HSR refund if the deal closed but was later unwound?

No. The FTC's refund policy applies only to deals that are withdrawn or abandoned before closing. If the deal closed and was later unwound or reversed, you do not meet the criteria for a refund. The FTC considers the closing date as the point at which the refund window closes.

How long does it take to get an HSR refund check in the mail?

The FTC typically takes 30 to 90 days to process your request after receiving it. Once approved, the check is mailed and usually arrives within 2 to 4 weeks. The total time from submitting your request to receiving the check is usually 60 to 120 days, though it can be faster if your request is complete and straightforward.

What if I filed the HSR notification through a law firm — who gets the refund?

The refund is issued to the company or individual listed as the filer on the original HSR notification, not to the law firm. If your law firm filed on your behalf, the check will be made out to your company. Contact your law firm to confirm who is listed as the filer and provide that name in your refund request letter.

Can I request an HSR refund by email or online?

No. The FTC requires refund requests to be submitted in writing by mail. Email and online submissions are not accepted. Mail your letter to the Bureau of Competition at 600 Pennsylvania Avenue NW, Washington, DC 20580, and keep a copy for your records.

What happens if the FTC loses my refund check?

Contact the Bureau of Competition at 202-326-3300 with the check number and issue date. The FTC can issue a replacement check, though this process typically takes another 2 to 4 weeks. You may also be able to stop payment on the original check through your bank if it has not been deposited.