> ## Documentation Index
> Fetch the complete documentation index at: https://docs.groundtech.co/llms.txt
> Use this file to discover all available pages before exploring further.

# Configure fees

> Set management and performance fees and choose who receives fee shares.

MicroVault fees accrue by minting shares to the fee recipient. This preserves the vault's invested assets while diluting other shareholders by the fee amount.

The management fee accrues annually on shareholder capital. The performance fee applies to gains above the vault's previous high-water NAV, so the same performance is not charged twice.

## Prerequisites

* An active `VAULT_ID`
* The fee recipient's EVM address
* Management and performance fees expressed in basis points
* `uuidgen` for the idempotency key

`100` basis points is `1%`. Use `0` to disable either fee.

## 1. Read the current policy

```bash theme={"theme":{"light":"github-light","dark":"github-dark"}}
curl -sS "$GROUND_API/v2/microvaults/vaults/$VAULT_ID" -H "$AUTH" | jq '.vault'
```

Record the existing recipient and both fee rates. An update replaces the complete fee policy rather than changing one field in isolation.

## 2. Submit the new policy

This example sets a `0.25%` annual management fee and a `10%` performance fee.

```bash theme={"theme":{"light":"github-light","dark":"github-dark"}}
curl -sS -X PUT "$GROUND_API/v2/microvaults/vaults/$VAULT_ID/fees" \
  -H "$AUTH" -H 'Content-Type: application/json' \
  -H "Idempotency-Key: $(uuidgen)" \
  -d '{
    "feeRecipient":"0x76f8fc6667e239f83a547d4e16225d6a34f6fa22",
    "managementFeeBps":25,
    "performanceFeeBps":1000
  }' | jq
```

The response contains a task for the onchain configuration change. Fee shares minted before this update remain with the previous recipient.

## 3. Wait for confirmation

Refresh the vault until the task has confirmed and the new fee policy appears. Do not submit another fee update while the first change is pending.

## Confirm the fee policy

Verify all three values: fee recipient, management fee, and performance fee. A confirmed policy controls future accrual; it does not retroactively recalculate fees already accrued.