What Is the SEC Form 20-F?

SEC Form 20-F is a form issued by the Securities and Exchange Commission (SEC) that must be submitted by all "foreign private issuers" with listed equity shares on exchanges in the U.S. Form 20-F calls for the submission of an annual report within four months of the end of a company's fiscal year or if the fiscal year-end date changes. The reporting and eligibility requirements for Form 20-F are stated in the 澳洲幸运5官方开奖结果体彩网:Securities Exchange Act of 1934.

Understanding the SEC Form 20-F

The information requirements are not as strict as the requirements for domestic U.S. companies that make regular filings. The companies in which less than 50% of 澳洲幸运5官方开奖结果体彩网:voting shares are held by U.S. investors may be eligible. Once a company is deemed ineligible for foreign private issuer status, it must file the same forms as regular filers, such as the 8-K, 10-Q, and 10-K reports, as well as reconcile accounting statements to 澳洲幸运5官方开奖结果体彩网:genera♌lly accepted a🦹ccounting principles (GAAP) standards.

Benefits of the SEC Form 20-F

The goal of Form 20-F is to standardize the reporting requirements of foreign-based companies so investors can evaluate these investments alongside domestic equities. The form often contains a foreign company's annual report with financials. Form 20-F is required from foreign companies, both non-U.S. and non-Canadian companies (澳洲幸运5官方开奖结♚果体彩网:Canadian companies must use form 40-F), whose securities are traded in the U.S.

Under the 澳洲幸运5官方开奖结果体彩网:New York Stock Exchange (NYSE) rules, a company must also make the report availabl🐠e to shareholders through the company's website and make shareholders aware the report has been released via a press release. There are also other requirements, such as posting in English that shareholders can request a hard copy of the audited financial statements, which they will receive within a reasonable period of time free of charge.

Failure to file Form 20-F with the SEC in the proper time frame subjects an NYSE-listed company to procedures under section 802.01E. After notice is given by the exchange, there is generally a six-month "cure period" where the exchange monitors the situation. Additional time may be granted after this time elapses or 澳洲幸运5官方开奖结果体彩网:delisting may commence.

Example of the SEC Form 20-F 

Unilever PLC is a public limited company registered iღn the Netherlands but with its corporate headquarters in London, England. There are ordinary shares and depositary shares, ♊along with preferred stock, listed on the Euronext Amsterdam and NYSE. 

Unilever files an annual Form 20-F with the SEC. Its latest year💟 ended on Dec. 31, 2019, and the was on March 4, 2020. There are a number of se♔ctions to the filing, including key information, information on the company, operating/financial review/prospects, directors/senior management, and employees. The numbers, including the financials, are given in euros.