Form 13H FAQs

 

What Is the Form 13H? 

The Securities and Exchange Commission adopted Rule 13h-1 and Form 13H under Section13(h) of the Securities Exchange Act of 1934 to assist the Commission in both identifying and obtaining trading information on, market participants that conduct a substantial amount of trading activity, as measured by volume or market value, in the U.S. securities markets. 

Who Needs to File Form 13H?

Rule 13h-1 requires a “large trader” to identify itself to the Commission and make certain disclosures to the Commission on Form 13H.

What is a Large Trader for 13H?

    • A person whose transactions in NMS securities equal or exceed:

      • 2 million shares or $20 million during any calendar day or

      • 20 million shares or $200 million during any calendar month

What is an NMS Security?

“NMS Security” is defined in Rule 600(b)(46) (17 CFR 242.600(b)(46)) as “any security or class of securities for which transaction reports are collected, processed, and made available pursuant to an effective transaction reporting plan, or an effective national market system plan for reporting transactions in listed options.”

When is the Form 13H Filing Due?

Initial Filing: 

  • A large trader must file a Form 13H Initial Filing promptly after effecting aggregate transactions equal to or greater than the identifying activity level. “Promptly” has been described as within 10 days after the large trader effects aggregate transactions equal to or greater than the identifying activity level.

Quarterly Filing:

  • If any of the information contained in a Form 13H filing becomes inaccurate for any reason, a large trader must file an Amended Filing no later than the end of the calendar quarter in which the information became stale.

Annual Filing:

  • All large traders must submit an Annual Filing within 45 days after the end of each full calendar year, except large traders on Inactive Status.

What is a Large Trader Identification Number (LTID)?

Upon receipt of Form 13H, the Commission will assign to each large trader an identification number that will uniquely and uniformly identify the trader, which the large trader must then provide to its registered broker-dealers.

How will I receive my LTID Number?

EDGAR automatically assigns the 8-digit "root" LTID number. Filers receive their unique LTID number in the automatically generated email that EDGAR sends to a filer confirming that the Form 13H filing has been accepted. Please note that this email also includes other EDGAR-generated tracking numbers (e.g., the accession number), which are not related to the LTID number. Large traders should retain this email for future reference.

How Do I File Form 13H on EDGAR?

Form 13H is an online web-based electronic form available only to persons with EDGAR access. For reference purposes, a paper copy of the form can be found on the Commission’s website: http://www.sec.gov/about/forms/secforms.htm.

Once a filer has a CIK and password, the filer may then access Form 13H through the EDGAR filer website.  After logging on to the EDGAR filer website, the web-based Form 13H is available by clicking on the “Form 13H” hyperlink on the left hand side of the screen under “Online Forms”.  Form 13H must be completed and submitted electronically through the EDGAR filer website.

Need Help? We've Got You Covered

If this process feels overwhelming, don’t worry – ACN is here to help. We specialize in making EDGAR easy for you. Let us take the stress out of your filing. Visit our 13H filing service page to learn more about how we can assist you in staying compliant and on time.

Resources:

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