What is SEC reporting?
SEC reporting is the set of financial and business disclosures that companies with securities registered in the United States must file with the Securities and Exchange Commission. The main filings are the annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K for significant events, with financial statements tagged in Inline XBRL.
Also calledSEC filings10-K10-Q8-Kexternal reporting
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- 10-K deadline
- 60, 75 or 90 days
- 10-Q deadline
- 40 or 45 days
- Tagging
- Inline XBRL
How SEC reporting works
Deadlines depend on filer status. The 10-K is due 60 days after year end for large accelerated filers, 75 days for accelerated filers and 90 days for others; the 10-Q is due 40 days after quarter end for large accelerated and accelerated filers and 45 days for others. An 8-K is generally due within four business days of the event. The 10-K includes audited financial statements, management's discussion and analysis, risk factors and, for most filers, management's report on internal control over financial reporting. Foreign private issuers file on Form 20-F instead. Producing the filings involves the close, technical accounting memos, disclosure drafting, XBRL tagging and multiple rounds of review, usually by an SEC reporting team in the controller's group. Workiva is used to draft, tag and file SEC reports, and Quillon benchmarks disclosures against other companies' filings.
Common questions
What is the difference between a 10-K and a 10-Q?+
The 10-K is the annual report with audited financial statements. The 10-Q is filed for each of the first three quarters, with financial statements reviewed rather than audited.
When is an 8-K required?+
When a significant event occurs, such as a material acquisition, a change in auditor, the departure of a director or officer, or the release of earnings. It is generally due within four business days.
What is a large accelerated filer?+
A US public company with a public float of $700 million or more that meets the other conditions. It has the shortest filing deadlines: 60 days for the 10-K and 40 days for the 10-Q.
SEC reporting software
Part of Accountio’s accounting technology coverage · Glossary
