SEC Seeks to Prolong Late Report Excuse Form Indefinitely
Published Date: 3/18/2025
Notice
Summary
The SEC is asking to keep using Form 12b-25, which lets companies tell everyone if they can’t file important reports on time. This form helps companies get extra time without penalties and affects about 2,849 filings a year, taking about 2.5 hours each. The public can comment on this extension request until April 18, 2025, but there’s no new cost or big changes involved.
Analyzed Economic Effects
2 provisions identified: 1 benefits, 1 costs, 0 mixed.
Form 12b-25 Continued Use
The SEC will continue to use Form 12b-25 so a registrant can notify the Commission and the marketplace if it cannot file a periodic or transition report on time. If the form's filing conditions are met, the registrant is granted an automatic filing extension. The public may comment on the extension request through April 18, 2025.
Paperwork Time Burden
The SEC estimates about 2,849 Form 12b-25 filings per year, with each response taking about 2.5 hours, for a total of roughly 7,123 annual burden hours. This represents the time registrants will need to prepare and submit the form.
Your PRIA Score
Personalized for You
How does this regulation affect your finances?
Sign up for a PRIA Policy Scan to see your personalized alignment score for this federal register document and every other regulation we track. We analyze your financial profile against policy provisions to show you exactly what matters to your wallet.
Key Dates
Department and Agencies
Related Federal Register Documents
2026-10373 — Registered Offering Reform
The SEC wants to make it easier and cheaper for more companies to sell their stocks and bonds to the public. They’re opening up special forms and benefits to more businesses, updating rules to be more modern, and cutting red tape by overriding some state rules. If you’re a company planning to raise money, these changes could speed things up and save you money, with feedback due by July 27, 2026.
2026-10222 — Enhancement of Emerging Growth Company Accommodations and Simplification of Filer Status for Reporting Companies
The SEC is making it easier for companies that report their finances by simplifying their categories into just two groups: big and small filers. Smaller companies, including emerging growth ones, will get more time to file reports and enjoy simpler rules, while big companies keep stricter standards. These changes aim to save time and money, with feedback open until July 20, 2026.
2026-07651 — Concept Release on Consolidated Audit Trail and Other Audit Trails and Data Sources
The SEC wants your thoughts on how it tracks stock market trades using the Consolidated Audit Trail and other data tools. They’re thinking about updating rules to keep up with new tech, privacy, and security needs, and to make sure the system is fair and cost-effective. If you’re involved in the stock market or data tracking, speak up by June 22, 2026!
2026-11810 — Self-Regulatory Organizations; Cboe EDGX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Adopt Fees for Its New Clock Service
Cboe EDGX Exchange just rolled out a new Clock Service that helps users sync their time systems perfectly with the Exchange. Starting May 18, 2026, they’re charging fees for this service but also offering a free trial to get everyone on board. This affects both members and non-members who want precise timing for their trading activities.
2026-11812 — Self-Regulatory Organizations; Cboe EDGA Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Adopt Fees for Its New Clock Service
Cboe EDGA Exchange just rolled out a new Clock Service to help traders sync their time systems perfectly. Starting May 18, 2026, users can try it for free, but after that, there will be fees for using this handy tool. This change affects anyone who wants precise timing for trading and keeps things running smoothly.
2026-11809 — Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Adopt Fees for Its New Clock Service
Cboe BZX Exchange just rolled out a new Clock Service that helps users sync their time systems with the Exchange’s for better accuracy. Starting May 18, 2026, they’re charging fees for this service but offering a free trial to get everyone started. This affects both members and non-members who want precise timing for their trading activities.
Previous / Next Documents
Previous: 2025-04354 — Self-Regulatory Organizations; Cboe Exchange, Inc.; Notice of Designation of a Longer Period for Commission Action on Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change To Permit Orders Comprised of Options and Futures Legs (“Future-Option Orders”)
The Cboe Exchange wants to let traders place special orders that mix options and futures, called Future-Option Orders. The SEC is taking extra time to decide if this new rule is a good idea, pushing their decision deadline to June 5, 2025. This affects traders and the market by potentially making trading more flexible, but no money changes yet until the rule is approved.
Next: 2025-04356 — Notice of Intended Repatriation: Nelson Gallery Foundation (d/b/a The Nelson-Atkins Museum of Art), Kansas City, MO
The Nelson-Atkins Museum of Art in Kansas City plans to return a special cultural item to Native American tribes, following the Native American Graves Protection and Repatriation Act (NAGPRA). This means the museum is working with tribes to give back an important object that belongs to their heritage. The process respects tribal connections and helps preserve their culture without any cost to the public.