When Are 10q Filings Due? Deadlines by Filer Type

Form 10-Q is a quarterly report public companies must submit to the U.S. Securities and Exchange Commission (SEC). This unaudited filing provides a view of financial condition and operations during the first three fiscal quarters. The 10-Q includes financial statements, management discussion and analysis, and disclosures related to internal controls. This report offers insights into a company’s performance between annual Form 10-K filings.

Understanding Filer Classifications

Deadlines for Form 10-Q reports depend on a company’s classification. These classifications depend on a company’s “public float,” which represents the aggregate market value of its outstanding voting and non-voting common equity held by non-affiliates. Public float is measured on the last business day of the second fiscal quarter.

Companies with a public float of $700 million or more are Large Accelerated Filers. These companies are subject to stringent reporting timelines due to their size.

An Accelerated Filer has a public float between $75 million and $700 million. These companies have substantial public ownership. They also face expedited reporting requirements.

Companies with a public float of less than $75 million are Non-Accelerated Filers. This category includes smaller public companies, granted additional time for quarterly reports. Smaller reporting companies and emerging growth companies often fall under these rules, allowing scaled disclosure.

Standard Filing Deadlines

The SEC mandates deadlines for Form 10-Q submissions. These deadlines are calculated from the end of the company’s fiscal quarter. Adherence ensures transparency in financial markets.

Large Accelerated Filers must file Form 10-Q within 40 days after their fiscal quarter. For example, if a company’s first fiscal quarter ends on March 31, its 10-Q would be due by May 10. Similarly, for a quarter ending June 30, the deadline would be August 9.

Accelerated Filers have a 40-day deadline for Form 10-Q submissions following the close of the fiscal quarter. The identical deadline to Large Accelerated Filers reflects the SEC’s expectation for prompt reporting.

Non-Accelerated Filers have 45 days after the fiscal quarter to file their Form 10-Q. If a non-accelerated company’s quarter concludes on December 31, its 10-Q would be due by February 14 of the following year. This extended timeframe accounts for smaller resources.

Adjustments and Extensions

While standard deadlines apply, practical considerations can influence the exact due date for a Form 10-Q. One common adjustment occurs when a filing deadline falls on a weekend or a federal holiday. In such cases, the due date is automatically extended to the next business day. For instance, if the 40th day falls on a Saturday, the report becomes due on the following Monday.

Companies that anticipate an inability to meet their filing deadline can submit a Form 12b-25, known as a Notification of Inability to Timely File. This form must be filed no later than one business day after the original due date. Filing a Form 12b-25 grants an automatic extension of five calendar days for a Form 10-Q.

To qualify for this extension, the company must state in reasonable detail why the report cannot be filed without unreasonable effort or expense. The company also needs to affirm that the report will be filed within the five-day extended period. If these conditions are met and the report is filed within the extended timeframe, it is considered timely.

Companies may also file an amended Form 10-Q, designated as a Form 10-Q/A, to correct errors or update previously submitted information. While not related to an initial due date, amendments are part of a company’s ongoing obligation to ensure accuracy in its public disclosures. Reasons for filing an amendment can range from correcting typographical errors to restating financial figures due to changes in accounting methods.