Under the proposal, the current deadline for accelerated filers would remain at 75 days for an additional year and at 40 days after quarter end for quarterly reports. The accelerated filing phase-in period would resume for reports filed for fiscal years ending on or after Dec. 15, 2005, when an accelerated filer would have to file its annual report within 60 days after year end and file its quarterly reports within 35 days after quarter end. This would complete the phase-in and these deadlines would remain in place for all subsequent periods.
SEC rules define an "accelerated filer" as a company that
- has a public float of at least $75 million;
- has been subject to the SEC's periodic reporting requirements for at least 12 months and has filed one annual report; and
- is not eligible to use the SEC's small business reporting forms.
Comments on the proposal should be submitted to the Commission within 30 days of the date of its publication in the Federal Register. The full text of the release describing the proposal has been posted on the SEC Web site at http://www.sec.gov/rules/proposed.shtml.
