SEC Invites Input on Continuing Stock Registration Form Use
Published Date: 12/3/2025
Notice
Summary
The SEC is asking to keep using Form S-1, which companies fill out to register their public stock sales. About 900 companies spend lots of time and money on this form every year, with outside experts costing over $260 million annually. You’ve got until January 5, 2026, to share your thoughts on this paperwork extension!
Analyzed Economic Effects
4 provisions identified: 1 benefits, 3 costs, 0 mixed.
Form S-1 Mandatory Filing Burden
Form S-1 is a mandatory registration form used by domestic issuers and is filed once per year by about 908 issuers; each filing takes an estimated 642.56 hours per response.
External Professional Fees for S-1
The SEC estimates 75% of the 642.56 hours per S-1 filing is done by outside professionals at an estimated $600 per hour, producing a total annual external cost burden of $262,550,016 across all issuers.
Issuer Internal Reporting Time Total
The SEC estimates issuers carry 25% of the 642.56 hours per S-1 filing internally, for an annual internal reporting burden totaling 145,861 hours across all issuers.
Investor Access via EDGAR
Information collected on Form S-1 is mandatory and is made publicly available on the SEC's EDGAR system to ensure adequacy of information available to investors.
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Key Dates
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