Individuals have reporting requirements with the Securities and Exchange Commission (SEC) if they are company's officers, directors, and/or are beneficial owners of more than 10% of a class of the company's equity securities.
To be able to file with the SEC, you need access codes so that SEC Form's can be filed under your name, even if the ownership of the stock is through another entity like a family trust, or other business entity. To get these access codes, you have to file a FORM ID (a form that identifies you) with the SEC, and this requires a notarized signature on your part, and about a day at most for the SEC to accept your application.
To file your initial ownership report, which is called a Form 3, it has to be filed within 10 days, of your becoming a officer, director, or owner of 10% of the company's equity (stock). So getting your access codes before the 10 days is up is very important in regards to meeting your reporting requirements. If the company is registering new shares, that you are aquiring, than you have to file your first ownership report on the effective date of that share registration.
More information on the FORM ID process can be read in our FORM ID section.
More information on the ownership form's can be read in our Form 3/4 section.
If you need help with the FORM ID process, and in filing ownership reports, please contact us.
We can provide a PDF template for the FORM ID, and ownership forms for you to print out, fill-out, and send back to us via email or fax, so we can then proceed with the electronic submission on your behalf.