
SEC Form 20-F
SEC Form 20-F is an annual report filing for non-U.S. and non-Canadian companies that have securities trading in the U.S. SEC Form 20-F helps standardize the reporting requirements of foreign-based companies. Form 20-F is required from foreign companies, both non-U.S. and non-Canadian companies, whose securities are traded in the U.S. Under the New York Stock Exchange (NYSE) rules 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. 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.

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 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 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 generally accepted accounting 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, whose securities are traded in the U.S.
Under the New York Stock Exchange (NYSE) rules, a company must also make the report available 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 delisting may commence.
Example of the SEC Form 20-F
Unilever PLC is a public limited company registered in 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 filing was on March 4, 2020. There are a number of sections 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.
Related terms:
Alien Corporation
An alien corporation is a corporation that was created in another country, most commonly classified as any corporation that is formed outside of the U.S. read more
Generally Accepted Accounting Principles (GAAP)
GAAP is a common set of generally accepted accounting principles, standards, and procedures that public companies in the U.S. must follow when they compile their financial statements. read more
New York Stock Exchange (NYSE)
The New York Stock Exchange, located in New York City, is the world's largest equities-based exchange in terms of total market capitalization. read more
Proxy Statement
A proxy statement is a document the SEC requires companies to provide shareholders that includes information needed to make decisions at shareholder meetings. read more
Securities Exchange Act of 1934
The Securities Exchange Act of 1934 was created to govern securities transactions on the secondary market and ensure fairness and investor confidence. read more
SEC Form 10
SEC Form 10 is a filing with the Securities and Exchange Commission (SEC) used to register a class of securities in preparation for potential trading on U.S. exchanges. read more
SEC Form 12b-25
SEC Form 12b-25 is a filing with the Securities and Exchange Commission (SEC), also known as the Notification of Late Filing. read more
SEC Form 20FR12B
SEC Form 20FR12B is a filing with the regulatory agency used to register the securities of a foreign company that wishes to trade on U.S. exchanges. read more
SEC Form 40-F
SEC Form 40-F is a filing with the Securities and Exchange Commission (SEC) by companies domiciled in Canada with securities registered in the U.S. read more