diff --git a/lib/ansible/modules/network/f5/bigiq_regkey_license_assignment.py b/lib/ansible/modules/network/f5/bigiq_regkey_license_assignment.py
new file mode 100644
index 00000000000..25354aaa185
--- /dev/null
+++ b/lib/ansible/modules/network/f5/bigiq_regkey_license_assignment.py
@@ -0,0 +1,636 @@
+#!/usr/bin/python
+# -*- coding: utf-8 -*-
+#
+# Copyright: (c) 2017, F5 Networks Inc.
+# GNU General Public License v3.0 (see COPYING or https://www.gnu.org/licenses/gpl-3.0.txt)
+
+from __future__ import absolute_import, division, print_function
+__metaclass__ = type
+
+
+ANSIBLE_METADATA = {'metadata_version': '1.1',
+                    'status': ['preview'],
+                    'supported_by': 'community'}
+
+DOCUMENTATION = r'''
+---
+module: bigiq_regkey_license_assignment
+short_description: Manage regkey license assignment on BIG-IPs from a BIG-IQ.
+description:
+  - Manages the assignment of regkey licenses on a BIG-IQ. Assignment means that
+    the license is assigned to a BIG-IP, or, it needs to be assigned to a BIG-IP.
+    Additionally, this module supported revoking the assignments from BIG-IP devices.
+version_added: 2.6
+options:
+  pool:
+    description:
+      - The registration key pool to use.
+    required: True
+  key:
+    description:
+      - The registration key that you want to assign from the pool.
+    required: True
+  device:
+    description:
+      - When C(managed) is C(no), specifies the address, or hostname, where the BIG-IQ
+        can reach the remote device to register.
+      - When C(managed) is C(yes), specifies the managed device, or device UUID, that
+        you want to register.
+      - If C(managed) is C(yes), it is very important that you do not have more than
+        one device with the same name. BIG-IQ internally recognizes devices by their ID,
+        and therefore, this module's cannot guarantee that the correct device will be
+        registered. The device returned is the device that will be used.
+  managed:
+    description:
+      - Whether the specified device is a managed or un-managed device.
+      - When C(state) is C(present), this parameter is required.
+    type: bool
+  device_port:
+    description:
+      - Specifies the port of the remote device to connect to.
+      - If this parameter is not specified, the default of C(443) will be used.
+    default: 443
+  device_username:
+    description:
+      - The username used to connect to the remote device.
+      - This username should be one that has sufficient privileges on the remote device
+        to do licensing. Usually this is the C(Administrator) role.
+      - When C(managed) is C(no), this parameter is required.
+  device_password:
+    description:
+      - The password of the C(device_username).
+      - When C(managed) is C(no), this parameter is required.
+  state:
+    description:
+      - When C(present), ensures that the device is assigned the specified license.
+      - When C(absent), ensures the license is revokes from the remote device and freed
+        on the BIG-IQ.
+    default: present
+    choices:
+      - present
+      - absent
+extends_documentation_fragment: f5
+author:
+  - Tim Rupp (@caphrim007)
+'''
+
+EXAMPLES = r'''
+- name: Register an unmanaged device
+  bigiq_regkey_license_assignment:
+    pool: my-regkey-pool
+    key: XXXX-XXXX-XXXX-XXXX-XXXX
+    device: 1.1.1.1
+    managed: no
+    device_username: admin
+    device_password: secret
+    password: secret
+    server: lb.mydomain.com
+    state: present
+    user: admin
+  delegate_to: localhost
+
+- name: Register an managed device, by name
+  bigiq_regkey_license_assignment:
+    pool: my-regkey-pool
+    key: XXXX-XXXX-XXXX-XXXX-XXXX
+    device: bigi1.foo.com
+    managed: yes
+    password: secret
+    server: lb.mydomain.com
+    state: present
+    user: admin
+  delegate_to: localhost
+
+- name: Register an managed device, by UUID
+  bigiq_regkey_license_assignment:
+    pool: my-regkey-pool
+    key: XXXX-XXXX-XXXX-XXXX-XXXX
+    device: 7141a063-7cf8-423f-9829-9d40599fa3e0
+    managed: yes
+    password: secret
+    server: lb.mydomain.com
+    state: present
+    user: admin
+  delegate_to: localhost
+'''
+
+RETURN = r'''
+param1:
+  description: The new param1 value of the resource.
+  returned: changed
+  type: bool
+  sample: true
+param2:
+  description: The new param2 value of the resource.
+  returned: changed
+  type: string
+  sample: Foo is bar
+'''
+
+import re
+
+from ansible.module_utils.basic import AnsibleModule
+
+try:
+    from library.module_utils.network.f5.bigiq import F5RestClient
+    from library.module_utils.network.f5.common import F5ModuleError
+    from library.module_utils.network.f5.common import AnsibleF5Parameters
+    from library.module_utils.network.f5.common import f5_argument_spec
+    from library.module_utils.network.f5.common import exit_json
+    from library.module_utils.network.f5.common import fail_json
+except ImportError:
+    from ansible.module_utils.network.f5.bigiq import F5RestClient
+    from ansible.module_utils.network.f5.common import F5ModuleError
+    from ansible.module_utils.network.f5.common import AnsibleF5Parameters
+    from ansible.module_utils.network.f5.common import f5_argument_spec
+    from ansible.module_utils.network.f5.common import exit_json
+    from ansible.module_utils.network.f5.common import fail_json
+try:
+    import netaddr
+    HAS_NETADDR = True
+except ImportError:
+    HAS_NETADDR = False
+
+
+class Parameters(AnsibleF5Parameters):
+    api_map = {
+        'deviceReference': 'device_reference',
+        'deviceAddress': 'device_address',
+        'httpsPort': 'device_port'
+    }
+
+    api_attributes = [
+        'deviceReference', 'deviceAddress', 'httpsPort', 'managed'
+    ]
+
+    returnables = [
+        'device_address', 'device_reference', 'device_username', 'device_password',
+        'device_port', 'managed'
+    ]
+
+    updatables = [
+        'device_reference', 'device_address', 'device_username', 'device_password',
+        'device_port', 'managed'
+    ]
+
+    def to_return(self):
+        result = {}
+        try:
+            for returnable in self.returnables:
+                result[returnable] = getattr(self, returnable)
+            result = self._filter_params(result)
+        except Exception:
+            pass
+        return result
+
+
+class ApiParameters(Parameters):
+    pass
+
+
+class ModuleParameters(Parameters):
+    @property
+    def device_password(self):
+        if self._values['device_password'] is None:
+            return None
+        return self._values['device_password']
+
+    @property
+    def device_username(self):
+        if self._values['device_username'] is None:
+            return None
+        return self._values['device_username']
+
+    @property
+    def device_address(self):
+        if self.device_is_address:
+            return self._values['device']
+
+    @property
+    def device_port(self):
+        if self._values['device_port'] is None:
+            return None
+        return int(self._values['device_port'])
+
+    @property
+    def device_is_address(self):
+        try:
+            netaddr.IPAddress(self.device)
+            return True
+        except (ValueError, netaddr.core.AddrFormatError):
+            return False
+
+    @property
+    def device_is_id(self):
+        pattern = r'[A-Za-z0-9]{8}-[A-Za-z0-9]{4}-[A-Za-z0-9]{4}-[A-Za-z0-9]{4}-[A-Za-z0-9]{12}'
+        if re.match(pattern, self.device):
+            return True
+        return False
+
+    @property
+    def device_is_name(self):
+        if not self.device_is_address and not self.device_is_id:
+            return True
+        return False
+
+    @property
+    def device_reference(self):
+        if not self.managed:
+            return None
+        if self.device_is_address:
+            # This range lookup is how you do lookups for single IP addresses. Weird.
+            filter = "address+eq+'{0}...{0}'".format(self.device)
+        elif self.device_is_name:
+            filter = "hostname+eq+'{0}'".format(self.device)
+        elif self.device_is_id:
+            filter = "uuid+eq+'{0}'".format(self.device)
+        else:
+            raise F5ModuleError(
+                "Unknown device format '{0}'".format(self.device)
+            )
+
+        uri = "https://{0}:{1}/mgmt/shared/resolver/device-groups/cm-bigip-allBigIpDevices/devices/?$filter={2}&$top=1".format(
+            self.client.provider['server'],
+            self.client.provider['server_port'],
+            filter
+        )
+        resp = self.client.api.get(uri)
+        try:
+            response = resp.json()
+        except ValueError as ex:
+            raise F5ModuleError(str(ex))
+        if resp.status == 200 and response['totalItems'] == 0:
+            raise F5ModuleError(
+                "No device with the specified address was found."
+            )
+        elif 'code' in response and response['code'] == 400:
+            if 'message' in response:
+                raise F5ModuleError(response['message'])
+            else:
+                raise F5ModuleError(resp._content)
+        id = response['items'][0]['uuid']
+        result = dict(
+            link='https://localhost/mgmt/shared/resolver/device-groups/cm-bigip-allBigIpDevices/devices/{0}'.format(id)
+        )
+        return result
+
+    @property
+    def pool_id(self):
+        filter = "(name eq '{0}')".format(self.pool)
+        uri = 'https://{0}:{1}/mgmt/cm/device/licensing/pool/regkey/licenses?$filter={2}&$top=1'.format(
+            self.client.provider['server'],
+            self.client.provider['server_port'],
+            filter
+        )
+        resp = self.client.api.get(uri)
+        try:
+            response = resp.json()
+        except ValueError as ex:
+            raise F5ModuleError(str(ex))
+        if resp.status == 200 and response['totalItems'] == 0:
+            raise F5ModuleError(
+                "No pool with the specified name was found."
+            )
+        elif 'code' in response and response['code'] == 400:
+            if 'message' in response:
+                raise F5ModuleError(response['message'])
+            else:
+                raise F5ModuleError(resp._content)
+        return response['items'][0]['id']
+
+    @property
+    def member_id(self):
+        if self.device_is_address:
+            # This range lookup is how you do lookups for single IP addresses. Weird.
+            filter = "deviceAddress+eq+'{0}...{0}'".format(self.device)
+        elif self.device_is_name:
+            filter = "deviceName+eq+'{0}'".format(self.device)
+        elif self.device_is_id:
+            filter = "deviceMachineId+eq+'{0}'".format(self.device)
+        else:
+            raise F5ModuleError(
+                "Unknown device format '{0}'".format(self.device)
+            )
+        uri = 'https://{0}:{1}/mgmt/cm/device/licensing/pool/regkey/licenses/{2}/offerings/{3}/members/?$filter={4}'.format(
+            self.client.provider['server'],
+            self.client.provider['server_port'],
+            self.pool_id,
+            self.key,
+            filter
+        )
+        resp = self.client.api.get(uri)
+        try:
+            response = resp.json()
+        except ValueError as ex:
+            raise F5ModuleError(str(ex))
+
+        if resp.status == 200 and response['totalItems'] == 0:
+            return None
+        elif 'code' in response and response['code'] == 400:
+            if 'message' in response:
+                raise F5ModuleError(response['message'])
+            else:
+                raise F5ModuleError(resp._content)
+        result = response['items'][0]['id']
+        return result
+
+
+class Changes(Parameters):
+    pass
+
+
+class UsableChanges(Changes):
+    @property
+    def device_port(self):
+        if self._values['managed']:
+            return None
+        return self._values['device_port']
+
+    @property
+    def device_username(self):
+        if self._values['managed']:
+            return None
+        return self._values['device_username']
+
+    @property
+    def device_password(self):
+        if self._values['managed']:
+            return None
+        return self._values['device_password']
+
+    @property
+    def device_reference(self):
+        if not self._values['managed']:
+            return None
+        return self._values['device_reference']
+
+    @property
+    def device_address(self):
+        if self._values['managed']:
+            return None
+        return self._values['device_address']
+
+    @property
+    def managed(self):
+        return None
+
+
+class ReportableChanges(Changes):
+    pass
+
+
+class Difference(object):
+    def __init__(self, want, have=None):
+        self.want = want
+        self.have = have
+
+    def compare(self, param):
+        try:
+            result = getattr(self, param)
+            return result
+        except AttributeError:
+            return self.__default(param)
+
+    def __default(self, param):
+        attr1 = getattr(self.want, param)
+        try:
+            attr2 = getattr(self.have, param)
+            if attr1 != attr2:
+                return attr1
+        except AttributeError:
+            return attr1
+
+
+class ModuleManager(object):
+    def __init__(self, *args, **kwargs):
+        self.module = kwargs.get('module', None)
+        self.client = kwargs.get('client', None)
+        self.want = ModuleParameters(params=self.module.params, client=self.client)
+        self.have = ApiParameters()
+        self.changes = UsableChanges()
+
+    def _set_changed_options(self):
+        changed = {}
+        for key in Parameters.returnables:
+            if getattr(self.want, key) is not None:
+                changed[key] = getattr(self.want, key)
+        if changed:
+            self.changes = UsableChanges(params=changed)
+
+    def _update_changed_options(self):
+        diff = Difference(self.want, self.have)
+        updatables = Parameters.updatables
+        changed = dict()
+        for k in updatables:
+            change = diff.compare(k)
+            if change is None:
+                continue
+            else:
+                if isinstance(change, dict):
+                    changed.update(change)
+                else:
+                    changed[k] = change
+        if changed:
+            self.changes = UsableChanges(params=changed)
+            return True
+        return False
+
+    def should_update(self):
+        result = self._update_changed_options()
+        if result:
+            return True
+        return False
+
+    def exec_module(self):
+        changed = False
+        result = dict()
+        state = self.want.state
+
+        if state == "present":
+            changed = self.present()
+        elif state == "absent":
+            changed = self.absent()
+
+        reportable = ReportableChanges(params=self.changes.to_return())
+        changes = reportable.to_return()
+        result.update(**changes)
+        result.update(dict(changed=changed))
+        self._announce_deprecations(result)
+        return result
+
+    def _announce_deprecations(self, result):
+        warnings = result.pop('__warnings', [])
+        for warning in warnings:
+            self.module.deprecate(
+                msg=warning['msg'],
+                version=warning['version']
+            )
+
+    def present(self):
+        if self.exists():
+            return False
+        return self.create()
+
+    def exists(self):
+        if self.want.member_id is None:
+            return False
+        uri = 'https://{0}:{1}/mgmt/cm/device/licensing/pool/regkey/licenses/{2}/offerings/{3}/members/{4}'.format(
+            self.client.provider['server'],
+            self.client.provider['server_port'],
+            self.want.pool_id,
+            self.want.key,
+            self.want.member_id
+        )
+        resp = self.client.api.get(uri)
+        if resp.status == 200:
+            return True
+        return False
+
+    def remove(self):
+        self._set_changed_options()
+        if self.module.check_mode:
+            return True
+        self.remove_from_device()
+        if self.exists():
+            raise F5ModuleError("Failed to delete the resource.")
+        return True
+
+    def create(self):
+        self._set_changed_options()
+        if not self.want.managed:
+            if self.want.device_username is None:
+                raise F5ModuleError(
+                    "You must specify a 'device_username' when working with unmanaged devices."
+                )
+            if self.want.device_password is None:
+                raise F5ModuleError(
+                    "You must specify a 'device_password' when working with unmanaged devices."
+                )
+        if self.module.check_mode:
+            return True
+        self.create_on_device()
+        if not self.exists():
+            raise F5ModuleError(
+                "Failed to license the remote device."
+            )
+        self.wait_for_device_to_be_licensed()
+        return True
+
+    def create_on_device(self):
+        params = self.changes.api_params()
+        uri = 'https://{0}:{1}/mgmt/cm/device/licensing/pool/regkey/licenses/{2}/offerings/{3}/members/'.format(
+            self.client.provider['server'],
+            self.client.provider['server_port'],
+            self.want.pool_id,
+            self.want.key
+        )
+
+        if not self.want.managed:
+            params['username'] = self.want.device_username
+            params['password'] = self.want.device_password
+
+        resp = self.client.api.post(uri, json=params)
+        try:
+            response = resp.json()
+        except ValueError as ex:
+            raise F5ModuleError(str(ex))
+
+        if 'code' in response and response['code'] == 400:
+            if 'message' in response:
+                raise F5ModuleError(response['message'])
+            else:
+                raise F5ModuleError(resp._content)
+
+    def wait_for_device_to_be_licensed(self):
+        count = 0
+        uri = 'https://{0}:{1}/mgmt/cm/device/licensing/pool/regkey/licenses/{2}/offerings/{3}/members/{4}'.format(
+            self.client.provider['server'],
+            self.client.provider['server_port'],
+            self.want.pool_id,
+            self.want.key,
+            self.want.member_id
+        )
+        while count < 3:
+            resp = self.client.api.get(uri)
+            try:
+                response = resp.json()
+            except ValueError as ex:
+                raise F5ModuleError(str(ex))
+
+            if 'code' in response and response['code'] == 400:
+                if 'message' in response:
+                    raise F5ModuleError(response['message'])
+                else:
+                    raise F5ModuleError(resp._content)
+            if response['status'] == 'LICENSED':
+                count += 1
+            else:
+                count = 0
+
+    def absent(self):
+        if self.exists():
+            return self.remove()
+        return False
+
+    def remove_from_device(self):
+        uri = 'https://{0}:{1}/mgmt/cm/device/licensing/pool/regkey/licenses/{2}/offerings/{3}/members/{4}'.format(
+            self.client.provider['server'],
+            self.client.provider['server_port'],
+            self.want.pool_id,
+            self.want.key,
+            self.want.member_id
+        )
+        params = {}
+        if not self.want.managed:
+            params.update(self.changes.api_params())
+            params['id'] = self.want.member_id
+            params['username'] = self.want.device_username
+            params['password'] = self.want.device_password
+        self.client.api.delete(uri, json=params)
+
+
+class ArgumentSpec(object):
+    def __init__(self):
+        self.supports_check_mode = True
+        argument_spec = dict(
+            pool=dict(required=True),
+            key=dict(required=True, no_log=True),
+            device=dict(required=True),
+            managed=dict(type='bool'),
+            device_port=dict(type='int', default=443),
+            device_username=dict(no_log=True),
+            device_password=dict(no_log=True),
+            state=dict(default='present', choices=['absent', 'present'])
+        )
+        self.argument_spec = {}
+        self.argument_spec.update(f5_argument_spec)
+        self.argument_spec.update(argument_spec)
+        self.required_if = [
+            ['state', 'present', ['key', 'managed']],
+            ['managed', False, ['device', 'device_username', 'device_password']],
+            ['managed', True, ['device']]
+        ]
+
+
+def main():
+    spec = ArgumentSpec()
+
+    module = AnsibleModule(
+        argument_spec=spec.argument_spec,
+        supports_check_mode=spec.supports_check_mode,
+        required_if=spec.required_if
+    )
+    if not HAS_NETADDR:
+        module.fail_json(msg="The python netaddr module is required")
+
+    try:
+        client = F5RestClient(module=module)
+        mm = ModuleManager(module=module, client=client)
+        results = mm.exec_module()
+        exit_json(module, results, client)
+    except F5ModuleError as ex:
+        fail_json(module, ex, client)
+
+
+if __name__ == '__main__':
+    main()
diff --git a/test/units/modules/network/f5/test_bigiq_regkey_license_assignment.py b/test/units/modules/network/f5/test_bigiq_regkey_license_assignment.py
new file mode 100644
index 00000000000..5d96ac76cb8
--- /dev/null
+++ b/test/units/modules/network/f5/test_bigiq_regkey_license_assignment.py
@@ -0,0 +1,134 @@
+# -*- coding: utf-8 -*-
+#
+# Copyright: (c) 2017, F5 Networks Inc.
+# GNU General Public License v3.0 (see COPYING or https://www.gnu.org/licenses/gpl-3.0.txt)
+
+from __future__ import (absolute_import, division, print_function)
+__metaclass__ = type
+
+import os
+import json
+import pytest
+import sys
+
+from nose.plugins.skip import SkipTest
+if sys.version_info < (2, 7):
+    raise SkipTest("F5 Ansible modules require Python >= 2.7")
+
+from ansible.compat.tests import unittest
+from ansible.compat.tests.mock import Mock
+from ansible.compat.tests.mock import patch
+from ansible.module_utils.basic import AnsibleModule
+
+try:
+    from library.modules.bigiq_regkey_license_assignment import ApiParameters
+    from library.modules.bigiq_regkey_license_assignment import ModuleParameters
+    from library.modules.bigiq_regkey_license_assignment import ModuleManager
+    from library.modules.bigiq_regkey_license_assignment import ArgumentSpec
+    from library.module_utils.network.f5.common import F5ModuleError
+    from library.module_utils.network.f5.common import iControlUnexpectedHTTPError
+    from test.unit.modules.utils import set_module_args
+except ImportError:
+    try:
+        from ansible.modules.network.f5.bigiq_regkey_license_assignment import ApiParameters
+        from ansible.modules.network.f5.bigiq_regkey_license_assignment import ModuleParameters
+        from ansible.modules.network.f5.bigiq_regkey_license_assignment import ModuleManager
+        from ansible.modules.network.f5.bigiq_regkey_license_assignment import ArgumentSpec
+        from ansible.module_utils.network.f5.common import F5ModuleError
+        from ansible.module_utils.network.f5.common import iControlUnexpectedHTTPError
+        from units.modules.utils import set_module_args
+    except ImportError:
+        raise SkipTest("F5 Ansible modules require the f5-sdk Python library")
+
+fixture_path = os.path.join(os.path.dirname(__file__), 'fixtures')
+fixture_data = {}
+
+
+def load_fixture(name):
+    path = os.path.join(fixture_path, name)
+
+    if path in fixture_data:
+        return fixture_data[path]
+
+    with open(path) as f:
+        data = f.read()
+
+    try:
+        data = json.loads(data)
+    except Exception:
+        pass
+
+    fixture_data[path] = data
+    return data
+
+
+class TestParameters(unittest.TestCase):
+    def test_module_parameters_unmanaged(self):
+        args = dict(
+            pool='foo-pool',
+            key='XXXX-XXXX-XXXX-XXXX-XXXX',
+            device='1.1.1.1',
+            managed=False,
+            device_username='admin',
+            device_password='secret',
+            device_port='8443'
+        )
+
+        p = ModuleParameters(params=args)
+        assert p.pool == 'foo-pool'
+        assert p.key == 'XXXX-XXXX-XXXX-XXXX-XXXX'
+        assert p.device == '1.1.1.1'
+        assert p.managed is False
+        assert p.device_username == 'admin'
+        assert p.device_password == 'secret'
+        assert p.device_port == 8443
+
+    def test_module_parameters_managed(self):
+        args = dict(
+            pool='foo-pool',
+            key='XXXX-XXXX-XXXX-XXXX-XXXX',
+            device='1.1.1.1',
+            managed=True,
+        )
+
+        p = ModuleParameters(params=args)
+        assert p.pool == 'foo-pool'
+        assert p.key == 'XXXX-XXXX-XXXX-XXXX-XXXX'
+        assert p.device == '1.1.1.1'
+        assert p.managed is True
+
+
+class TestManager(unittest.TestCase):
+
+    def setUp(self):
+        self.spec = ArgumentSpec()
+
+    def test_create(self, *args):
+        set_module_args(dict(
+            pool='foo-pool',
+            key='XXXX-XXXX-XXXX-XXXX-XXXX',
+            device='1.1.1.1',
+            device_username='admin',
+            device_password='secret',
+            managed='no',
+            state='present',
+            password='passsword',
+            server='localhost',
+            user='admin'
+        ))
+
+        module = AnsibleModule(
+            argument_spec=self.spec.argument_spec,
+            supports_check_mode=self.spec.supports_check_mode,
+            required_if=self.spec.required_if
+        )
+        mm = ModuleManager(module=module)
+
+        # Override methods to force specific logic in the module to happen
+        mm.exists = Mock(side_effect=[False, True])
+        mm.create_on_device = Mock(return_value=True)
+        mm.wait_for_device_to_be_licensed = Mock(return_value=True)
+
+        results = mm.exec_module()
+
+        assert results['changed'] is True