Form 1-SA Filings

What is the Form 1-SA?

Form 1-SA is a semiannual disclosure report required for Tier 2 issuers under Regulation A. Filed pursuant to the Securities Act of 1933, this report provides updated financial and operational information covering the first six months of an issuer’s fiscal year.

By submitting Form 1-SA through the SEC’s EDGAR filing system, Tier 2 companies maintain ongoing disclosure consistency and allow investors to monitor evolving financial conditions, operational performance, and progress toward stated objectives before the filing of the annual Form 1-K.

See our deep dive into securities Quarterly Reports.

What’s Included in Form 1-SA?

Form 1-SA delivers a focused update on business health at mid-year:

• Unaudited interim financial statements
• Management’s discussion and analysis
• Recent business developments
• Updated risk factor disclosures
• Ongoing legal or compliance issues

SEC Form 1-SA Filing Deadlines

SEC Form 1-SA has specific timing requirements that Regulation A Tier 2 issuers must follow once they become subject to ongoing reporting. These deadlines are important to ensure regulatory compliance and maintain timely disclosure for investors.

Key Things to Know About Form 1-SA Filing Rules

• Only Tier 2 Regulation A issuers must file
• Filing must occur within 90 days of the fiscal mid‑year
• Form includes unaudited financials and key operational updates
• Must cover material risk factors and legal developments
• Submitted electronically via EDGAR as part of continuous compliance

Form 1-SA is mandatory for Tier 2 issuers under Regulation A, ensuring consistent mid-year updates on financials and operations that are reflected in recent SEC filings reviewed by investors, regulators, and compliance teams.