In this paper we discuss the preparation of complexes formed by polyethylenimine (PEI) and retinoic acid. The molecular weights of the PEIs were 600, 2000, 25 000, and 750 000 g/mol. All complexes form smectic A-like structures whose orders decrease with increasing molecular weight. The complexes in the bulk material obey Porod's law. Macroscopically oriented multilayer films of the complexes were prepared in a single-step procedure by spin coating and were characterized by X-ray reflectivity. The release of retinoic acid from the films was investigated by FTIR and surface tension measurements. It was found that the release from the complexes with the high molecular weight PEIs is faster than that from the complexes with low molecular weight. Steric stabilized nanoparticles of the complexes were prepared with sizes ranging from 170 to 580 nm by using Poloxamer 188 as the dispersing agent in aqueous media. Their characterization was carried out using dynamic light scattering and atomic force microscopy. It was found that the particle sizes decreased with the increasing molecular weight of the PEIs. Further, the particle structure became more compact with the increasing molecular weight of the PEIs. The particles of the complexes with the lowest molecular weight were assumed to be doughnutshaped (toroids).