In 2021, the SEC adopted a significant final rule, Filing Fee Disclosure and Payment Methods Modernization, to modernize how companies pay and report fee data to the SEC. I discussed key aspects of the mandate in a recent post. The SEC is improving how registrants pay their SEC fees when they register securities. As of May 31, 2022, the SEC will implement the following fee payment changes:
- Check payments will no longer be allowed
- The Filing Fee lockbox will be retired
- EDGAR will allow fee payments using:
- Credit or debit card for payments up to $25,000
- ACH payments (Automated Clearing House) debit method
- The existing Fedwire process
- Filers must access Pay.gov through the EDGAR system to utilize the new payment methods
The SEC details the new Pay.gov process in the EDGAR Filer Manual, Volume II. Filers should note that SWIFT payments are not allowed
A valid CIK and EDGAR password is required to login to the EDGAR system to utilize the new fee payment options. If you do not know your EDGAR password, then you will need to regenerate EDGAR access codes to obtain a new password. We have helpful instructions and resources available to help filers:
Toppan Merrill is here to help.
For 55+ years, the dedicated SEC reporting experts at Toppan Merrill have supported issuers navigating the regulatory disclosure and filing process. Visit our SEC reporting page to learn more – or connect with one of our experts at email@example.com or by calling 800.688.4400.
Jennifer Froberg, Senior Product Specialist at Toppan Merrill
With over 15 years of industry experience in the SEC regulatory landscape, Jennifer supports and advises clients in how to get their filings right. Part of a Toppan Merrill team of EDGAR experts who provide practical compliance expertise in a variety of subjects, Jennifer focuses on analyzing the scope of SEC rulemaking and where the agency is headed.
Toppan Merrill’s deep SEC subject matter knowledge provides companies with an array of pragmatic tools to navigate the frequently changing SEC requirements. Jennifer is immersed in how regulatory changes will impact the filers, investors and the market. She has a particular focus on structured data and ESG initiatives.