Foreign Firms Face $200M Headache in SEC Filings Yearly
Published Date: 1/15/2026
Notice
Summary
The SEC is asking for comments on extending the use of Form F-1, which foreign companies file to register their securities in the U.S. About 270 companies spend a lot of time and money—over 100,000 hours and nearly $200 million yearly—on this form. If you have ideas to make this process easier or clearer, speak up by March 16, 2026!
Analyzed Economic Effects
2 provisions identified: 1 benefits, 1 costs, 0 mixed.
Large time and money burden for Form F-1
Form F-1 is used by certain foreign private issuers to register securities. The SEC estimates each filing takes 1,610.36 hours and is filed once per year by about 270 companies. The agency estimates 25% of that time is done internally (total annual internal burden 108,699 hours) and 75% is performed by outside professionals at $600 per hour, for a total annual external cost of $195,658,740.
Opportunity to request burden reductions
The SEC is soliciting written comments on extending Form F-1 and on ways to reduce or clarify the information collection, including suggestions to minimize burden through automated collection techniques. Written comments on this 60-Day Collection Notice must be submitted by March 16, 2026, to the named SEC official, and a second comment opportunity will follow publication of a 30-Day Submission Notice.
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