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1360 Changes in Fiscal Year - General
us SEC - Financial Reporting Manual
1360.1 Transition Report Required
When a company changes its fiscal year, it is required to file a report covering the transition period. [Exchange Act Rule 13a-10, 15d-13 & FRC 102.05]
A transition period is the period between the closing of the registrant's most recent fiscal year and the opening date of its newly selected fiscal year.
1360.2 Exchange Act Reporting Requirements for Transition Period
If the transition period is:
| File a transition report:
| |
6 months or more
| On Form 10-K within 90 days for non-accelerated filers (or 75 days for accelerated filers and 60 days for large accelerated filers) after the later of the election to change the fiscal year or the end of the transition period. The transition period financial statements must be audited. See Section 1340.7 for reassessment of accelerated filer status.
| |
Less than 6 months
| On Form 10-K as above, or on Form 10-Q within 45 days for non-accelerated filers (or 40 days for accelerated and large accelerated filers) after the later of the election to change the fiscal year or the end of the transition period. The transition period may be unaudited in Form 10-Q, but the next Form 10-K must contain audited financial statements of the transition period. See Section 1340.7 for reassessment of accelerated filer status.
| |
One month or less
| No separate transition report is required. However, if the registrant does not file a transition report on either Form 10-Q or 10-K, transition period financial statements must be included in the next periodic report filed on Form 10-Q. The transition period may be unaudited, but the next Form 10-K must contain audited financial statements of the transition period.
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