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SEC delays Sec. 404 reporting deadline.

The SEC has instituted a one-year postponement of the final phase-in period for acceleration of periodic report deadlines that apply to larger companies known as "accelerated filers," to allow additional time to comply with Sec. 404 of the Sarbanes-Oxley Act.

Under the amended rules, the deadline for accelerated filers will remain at 75 days after year end for annual reports and at 40 days after quarter end for quarterly reports.

The accelerated filing phase-in will resume for reports filed for fiscal years ending on or after Dec. 15, 2005, when an accelerated filer will have to file its annual report within 60 days after year end and file its quarterly reports within 35 days after quarter end.

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Title Annotation:SEC News; United States. Securities and Exchange Commission
Publication:California CPA
Article Type:Brief Article
Geographic Code:1USA
Date:Jan 1, 2005
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