SEC Proposes Reporting Overhaul Allowing Public Companies to File Semiannually

U.S. public companies currently must file three quarterly Form 10-Q reports and one annual Form 10-K report with the Securities and Exchange Commission each year. A voluntary shift to semiannual reporting is intended to reduce preparation and compliance costs and ease pressure to deliver short-term earnings. For crypto companies preparing for IPOs, the change could make U.S. listings more attractive and create a friendlier environment for innovations such as tokenized U.S. equities.

The SEC proposed the rule changes on May 5, 2026, allowing companies to replace three quarterly reports with a new Form 10-S semiannual report and one annual Form 10-K. The 10-S would be due within 40 or 45 days after the end of the first half, while Form 8-K obligations for material events would remain unchanged. A related proposal issued on May 19 would also raise the threshold for large accelerated filers from $700 million to $2 billion.