Accelerated filer is a class of reporting company which has shorter deadlines to file their periodic reports. Securities and Exchange Commission (SEC) Rule 12b-2 establishes the requirements that a company must satisfy to qualify as an accelerated filer. It requires t…
accelerated filer — Definition and meaning
Securities and Exchange Commission (SEC) Rule 12b-2 establishes the requirements that a company must satisfy to qualify as an accelerated filer. It requires that the company has a public float of between $75 million and $700 million, has been filing periodic reports for at least 12 months, has previously filed at least one annual report (e.g. Form 10-K), and is not a smaller reporting company.
Once a company satisfies the requirements of Rule 12b-2, then they have 75 days to file their Form 10-K and 40 days to file their Form 10-Q.
The importance of accelerated filer
accelerated filer appears in U.S. legal practice across multiple practice areas. Knowing what it means — and when it applies — can determine the outcome of motions, filings, and negotiations. For non-lawyers, the value of looking up a precise definition is that legal terms often carry meanings that differ from everyday usage; relying on the common meaning can lead to costly missteps.
How accelerated filer is applied
In practice, accelerated filer is invoked when parties, judges, or attorneys need to identify the legal status of an issue, the rights of those involved, or the procedural step required next. The definition shown above is sourced from Cornell LII Wex , which is widely cited in U.S. legal practice. Because U.S. law is jurisdictionally layered — federal, state, and sometimes local — the precise application of the term can vary by court, so check the controlling authority for your specific case.