You might have seen this press release drop last week as the SEC passed this final ruling (summary here) regarding amendments to electronic filings. These changes included several items, with the key players being:
- Foreign filers will need to file their “glossy” annual report in a 6-K filing. Non-English documents will need to be submitted in PDF format and not on paper
- 10-K filers will also have to submit their “glossy” via EDGAR instead of submitting it in paper form to the SEC
- Form 144 filers will be required to submit their filings electronically instead of on paper or email. It also appears that it will be switching from HTML to “structured, machine-readable custom XML format”
- 11-K will need to be iXBRL tagged
The first three rules go into effect six months from July 11, 2022, (the effective date) while the 11-K tagging requirement is still 3 years out (July 2025). We encourage all filers to confirm with their legal counsel on their filing requirements for these forms given the effective date.
As always, we're here to help and our experts are standing by so let us know what questions you have. Thanks, and happy filings!