# ONESOURCE FI LLC X-17A-5 (2025-03-31) — Broker-dealer annual report - Company: ONESOURCE FI LLC - Form: X-17A-5 - Filed: 2025-03-31 - Period: 2024-12-31 - Accession: 0000769815-25-000005 - CIK: 1825923 - File #: 8-70595 - Type: Broker-dealer - Material weakness: No - Auditor: Sanville & Company - Auditor location: Dallas, TX - Contact: Emily Abbruzzese - Phone: 516-858-4766 - Email: emily@onesourcefi.com - Website: onesourcefi.com - Signed by: John Parmigiani (Chief Executive Officer) Original filing: https://www.sec.gov/Archives/edgar/data/1825923/000076981525000005/osfi2024public.pdf --- {0}------------------------------------------------ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 OMB APPROVAL OMB Number: 3235-0123 Expires: Nov. 30, 2026 Estimated average burden hours per response: 12 # ANNUAL REPORTS FORM X-17A-5 PART III SEC FILE NUMBER 8-70595 FACING PAGE Information Required Pursuant to Rules 17a-5, 17a-12, and 18a-7 under the Securities Exchange Act of 1934 filing for the period beginning 01/01/2024 12/31/2024 AND ENDING MM/DD/YY MM/DD/YY A. REGISTRANT IDENTIFICATION NAME OF FIRM: OneSource Fi, LLC TYPE OF REGISTRANT (check all applicable boxes): 🇿 Broker-dealer □ Check here if respondent is also an OTC derivatives dealer ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.) | | | I hree World Financial Center, 200 Vesey Street 24th Floor | | | |--------------------------------------------------|---------------------------------------------------------------------------|------------------------------------------------------------|-----------------------|--------------------------------------------| | | (No. and Street) | | | | | New York | | NY | | 10281 | | (City) | | (State) | | (Zip Code) | | PERSON TO CONTACT WITH REGARD TO THIS FILING | | | | | | Emily Abbruzzese | 516-858-4766 | | emily@onesourcefi.com | | | (Name) | (Area Code - Telephone Number) | | (Email Address) | | | | B. ACCOUNTANT IDENTIFICATION | | | | | | | | | | | Sanville & Company | INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing* | | | | | | (Name - if individual, state last, first, and middle name) | | | | | 325 N. St. Paul Street, Suite 3100 Dallas | | | TX | 75201 | | (Address) | (City) | | (State) | (Zip Code) | | 09/18/2003 | | 169 | | | | (Date of Registration with PCAOB)(if applicable) | | | | (PCAOB Registration Number, if applicable) | \* Claims for exemption from the requirement that the annual reports of an independent public accountant must be supported by a statement of facts and circumstances relied on as the basis of the exemption. See 17 CFR 240.17a-5(e)(1)(ii), if applicable. Persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. {1}------------------------------------------------ ## OATH OR AFFIRMATION | John Parmigiani | swear (or affirm) that, to the best of my knowledge and belief, the | | |--------------------------------------------------------------|---------------------------------------------------------------------|-------| | financial report pertaining to the firm of OneSource Fi, LLC | | as of | 12/31 , 2 024 partner, officer, director, or equivalent person, as the case may be, has any proprietary interest in any account classified solely as that of a customer. Alyssa Dawn Giacobbe Notary Public, State of NY No. 01G16312677 Qualified in Nassau County Comm Exp Oct 6, 2026 Signature: Title · Chief Executive Officer Notary Public ## This filing\*\* contains (check all applicable boxes): - (a) Statement of financial condition. - = (b) Notes to consolidated statement of financial condition. - □ (c) Statement of income (loss) or, if there is other comprehensive income in the period(s) presented, a statement of comprehensive income (as defined in § 210.1-02 of Regulation S-X). - [ (d) Statement of cash flows. - [ (e) Statement of changes in stockholders' or partners' or sole proprietor's equity. - [] (f) Statement of changes in liabilities subordinated to claims of creditors. - [ (g) Notes to consolidated financial statements. - [ (h) Computation of net capital under 17 CFR 240.15c3-1 or 17 CFR 240.18a-1, as applicable. - [ (i) Computation of tangible net worth under 17 CFR 240.18a-2. - □ (j) Computation for determination of customer reserve requirements pursuant to Exhibit A to 17 CFR 240.15c3-3. - □ (k) Computation for determination of security-based swap reserve requirements pursuant to Exhibit B to 17 CFR 240.15c3-3 or Exhibit A to 17 CFR 240.18a-4, as applicable. - [ (I) Computation for Determination of PAB Requirements under Exhibit A to § 240.15c3-3. - [ (m) Information relating to possession or control requirements for customers under 17 CFR 240.15c3-3. - | (n) Information relating to possession or control requirements for security-based swap customers under 17 CFR 240.15c3-3(p)(2) or 17 CFR 240.18a-4, as applicable. - | |o) Reconciliations, including appropriate explanations, of the FOCUS Report with computation of net worth under 17 CFR 240.15c3-1, 17 CFR 240.18a-2, or 17 CFR 240.18a-2, as applicable, and the reserve requirements under 17 CFR 240.15c3-3 or 17 CFR 240.18a-4, as applicable, if material differences exist, or a statement that no material differences exist. - [ {p) Summary of financial data for subsidiaries not consolidated in the statement of financial condition. - @ (q) Oath or affirmation in accordance with 17 CFR 240.17a-5, 17 CFR 240.17a-12, or 17 CFR 240.18a-7, as applicable. - [ (r) Compliance report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - [s) Exemption report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - (t) Independent public accountant's report based on an examination of the statement of financial condition. - □ (u) Independent public accountant's report based on an examination of the financial statements under 17 CFR 240.17a-5, 17 CFR 240.18a-7, or 17 CFR 240.17a-12, as applicable. - □ (v) Independent public accountant's report based on an examination of certain statements in the compliance report under 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - [ (w) Independent public accountant's report based on a review of the exemption report under 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - □ (x) Supplemental reports on applying agreed-upon procedures, in accordance with 17 CFR 240.17a-12, as applicable. - | (y) Report describing any material inadequacies found to have existed since the date of the previous audit, or a statement that no material inadequacies exist, under 17 CFR 240.17a-12(k). - O (z) Other: \*\* To request confidential treatment of certain portions of this filing, see 17 CFR 240.17a-5(e)(3) or 17 CFR 240.18a-7(d)(2), as applicable. {2}------------------------------------------------ # OneSource Fi, LLC Report of Independent Registered Public Accounting Firm and Statement of Financial Condition December 31, 2024 {3}------------------------------------------------ | | Page(s) | |---------------------------------------------------------|---------| | Report of Independent Registered Public Accounting Firm | | | Financial Statement | | | Statement of Financial Condition | | | Notes to Financial Statement | | {4}------------------------------------------------ ![](_page_4_Picture_0.jpeg) ## **Report of Independent Registered Public Accounting Firm** To the Member and Those Charged With Governance of OneSource FI, LLC ## **Opinion on the Financial Statement** We have audited the accompanying statement of financial condition of OneSource FI, LLC (the Company) as of December 31, 2024, and the related notes (collectively, the financial statement). In our opinion, the financial statement presents fairly, in all material respects, the financial position of the Company as of December 31, 2024, in conformity with accounting principles generally accepted in the United States of America. ## **Basis for Opinion** This financial statement is the responsibility of the Company's management. Our responsibility is to express an opinion on the Company's financial statement based on our audit. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Company in accordance with U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB. We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statement is free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audit we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control over financial reporting. Accordingly, we express no such opinion. Our audit included performing procedures to assess the risks of material misstatement of the financial statement, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statement. Our audit also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statement. We believe that our audit provides a reasonable basis for our opinion. This is the initial year we have served as the Company's auditor. Dallas, Texas March 28, 2025 > 325 North Saint Paul St. Suite 3100 Dallas, Texas 75201 214.738.1998 {5}------------------------------------------------ # OneSource Fi, LLC Statement of Financial Condition December 31, 2024 | Assets | | | |----------------------------------------|-------|--------| | Cash and cash equivalents | ક | 14,597 | | Prepaids and other assets | | 14,562 | | | | | | Total assets | લુક | 29,159 | | | | | | | | | | | | | | | | | | Liabilities and Member's Equity | | | | | | | | Liabilities | | | | Accrued expenses and other liabilities | ક્ત્ર | 4,721 | | | | | | Total liabilities | | 4,721 | | | | | | Commitments and Contingencies | | | | Member's Equity | | 24,438 | | | | | | Total liabilities and member's equity | સ્ત્ર | 29,159 | | | | | See accompanying notes to the statement of financial condition. {6}------------------------------------------------ #### 1. Organization OneSource Fi, LLC (the "Company"), organized in the State of Delaware on April 29, 2019, is a wholly owned subsidiary of 1059 Holdings, LLC (the "Parent"). Beginning July 13, 2021, the Company was registered with the United States Securities and Exchange Commission ("SEC") as a broker dealer and is a member of the Financial Industry Regulatory Authority ("FINA"). FINRA granted the Company's membership application in June 2021 and FINRA and SEC registration was approved on July 13, 2021. The Company is a non-clearing broker. On November 10, 2021, the clearing arrangement between the Company and Interactive Brokers LLC was approved. The Company's registration to conduct securities business was approved in New York, its home state, in December 2021. Registration applications for additional states were started in January 2022. The Company did not transact any business with customers during 2024. #### 2. Significant accounting policies ## Basis of Presentation and Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. ## Cash and cash equivalents The Company considers cash and all highly liquid instruments with original maturities of three months or less, that are not held for sale in the ordinary course of business, to be cash equivalents for cash flow statement purposes. The Company's cash balance is held with a large global financial institution which, at times, may exceed federally insured limits. The Company has not experienced any losses in such account and believes it is not exposed to any significant credit risk on cash and cash equivalents. ## Fair value of financial instruments Substantially all of the Company's assets and liabilities are carried at fair value or contracted amounts which approximate fair value. ## Fixed Assets and depreciation Fixed assets are carried at cost less accumulated depreciation is computed using the straight-line method over the estimated useful lives of the assets. There were no fixed assets capitalized during the year. ## Off-balance sheet risk In the normal course of business, the Company's customer and correspondent clearance activities involve the execution, settlement, and financing of various customer securities transactions. These activities may expose the Company to off-balance-sheet risk in the event the customer or clearing agent is unable to fulfill its contracted obligations and the Company has to purchase or sell the financial instrument underlying the contract at a loss. As of December 31, 2024, the Company was not exposed to such risk. ## Concentration of credit risk The Company is engaged in various trading and brokerage activities whose counterparties primarily include broker-dealers, and other financial institutions. In the event counterparties do not fulfill their obligations, the Company may be exposed to risk. The risk of default depends on the {7}------------------------------------------------ ## OneSource Fi, LLC Notes to the Statement of Financial Condition December 31, 2024 creditworthiness of the counterparty or issuer of the instrument. It is the Company's policy to review, as necessary, the credit standing of each counterparty with which it conducts business. As of December 31, 2024, the Company was not exposed to such risk. ## Recent Accounting Pronouncement The Accounting Standards Update (ASU) 2023-07 issued by the Financial Accounting Standards Board (FASB) introduced enhancements to segment reporting requirements for public entities, including broker-dealers. The update aimed to improve the transparency and usefulness of financial disclosures for investors and other stakeholders. ASU 2023-07 disclosure requirements are effective for fiscal years starting after December 15, 2023. The Company's operations constitute a single operating segment and, therefore, a single reportable segment as defined by Accounting Standards Codification 280, as it conducts its business activities and reports financial results using information of the Company as a whole. The Chief Executive Officer of the Company serves as Chief Operating Decision Maker, which makes decisions about allocating resources and assessing performance in a manner consistent with the way the Company operates its business and presents its financial results. Company management reviewed the ASU 2023-07 disclosure requirements and determined that no additional disclosures are required as the significant income and expenses of the segment reported in the accompanying statement of operations. #### 3. Contingencies The Company is subject to various regulatory examinations that arise in the ordinary course of business. In the opinion of management, results from these examinations will not materially affect the Company's financial position or results of operations. #### 4. Net Capital Requirements The Company is subject to the Securities and Exchange Commission (SEC) Uniform Net Capital Rule ("SEC Rule 15c3-1"), which requires the maintenance of minimum net capital, as defined. equal to the greater of \$5,000 or 6-2/3% of aggregate indebtedness, as defined. At December 31, 2024, the Company had net capital of \$9,876, which was \$4,876 in excess of the minimum amount required. Rule 15c3-3 under the Securities and Exchange Act of 1934 ("SEC Rule 15c3-3") specifies certain conditions under which brokers and dealers carrying customer accounts are required to maintain cash or qualified securities in a special reserve bank account for the exclusive benefit of customers The Company clears all transactions with and for customers on a fully disclosed basis, and the Company does not otherwise hold funds or securities for, or owe money to customers and therefore is exempt from the provisions of Rule 15c3-3 pursuant to paragraph k(2)(ii). #### 5. Subsequent Events The Company evaluates subsequent events through March 24, 2025, the date of issuance of the report, and has determined that no additional items require disclosure. Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.