Accelerated Filer is a term used by the U.S. Securities and Exchange Commission (SEC) to categorize certain companies based on their filing deadlines for annual and quarterly reports. Companies that qualify as accelerated filers have a public float of at least $75 million but less than $700 million. These companies are required to file their annual reports within 75 days after the end of their fiscal year, and their quarterly reports within 40 days after the end of each fiscal quarter. This classification aims to ensure timely and accurate disclosure of financial information to investors and the public.
An accelerated filer is a company that is required to file annual and quarterly reports with the Securities and Exchange Commission (SEC) and meets certain criteria for accelerated filing deadlines.
To be classified as an accelerated filer, a company must have a public float of at least $75 million, but less than $700 million, and have been subject to the reporting requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934 for at least 12 calendar months.
Accelerated filers are required to file their annual reports (Form 10-K) within 75 days after the end of their fiscal year and their quarterly reports (Form 10-Q) within 40 days after the end of each fiscal quarter.
One of the main benefits of being classified as an accelerated filer is the ability to take advantage of the shorter filing deadlines, which can help companies stay in compliance with SEC regulations and provide more timely information to investors.
One potential drawback of being classified as an accelerated filer is the increased pressure to meet the shorter filing deadlines, which can require additional resources and may lead to errors or omissions in the filings.
Yes, if a company’s public float falls below $50 million, it may lose its status as an accelerated filer and be subject to the filing deadlines for non-accelerated filers.
Accelerated filers are required to file annual reports (Form 10-K) and quarterly reports (Form 10-Q) with the SEC, as well as current reports (Form 8-K) for certain significant events.
Failure to meet filing deadlines as an accelerated filer can result in penalties and sanctions from the SEC, as well as potential legal action from investors or other stakeholders.
Yes, a company can voluntarily opt out of accelerated filer status by filing a Form 10-Q or Form 10-K with the SEC and indicating its decision to no longer be an accelerated filer.
To ensure compliance with filing requirements as an accelerated filer, a company should establish internal controls and procedures, allocate sufficient resources to the filing process, and stay informed about any changes to SEC regulations or filing deadlines.
This site contains general legal information but does not constitute professional legal advice for your particular situation. Persuing this glossary does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.
This glossary post was last updated: 12th April 2024.
To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.
- Page URL:https://dlssolicitors.com/define/accelerated-filer/
- Modern Language Association (MLA):Accelerated Filer. dlssolicitors.com. DLS Solicitors. May 09 2024 https://dlssolicitors.com/define/accelerated-filer/.
- Chicago Manual of Style (CMS):Accelerated Filer. dlssolicitors.com. DLS Solicitors. https://dlssolicitors.com/define/accelerated-filer/ (accessed: May 09 2024).
- American Psychological Association (APA):Accelerated Filer. dlssolicitors.com. Retrieved May 09 2024, from dlssolicitors.com website: https://dlssolicitors.com/define/accelerated-filer/
Our team of professionals are based in Alderley Edge, Cheshire. We offer clear, specialist legal advice in all matters relating to Family Law, Wills, Trusts, Probate, Lasting Power of Attorney and Court of Protection.
All author posts