Accelerated filer and large accelerated filer are terms defined by the Securities and Exchange Act of 1934, 17 CFR 240, Rule 12b-2, and referenced in regard to reporting requirements and deadlines for the Sarbanes-Oxley Act of 2002.

To be an accelerated filer, a company must:

1. Have an aggregate market value of more than $75 million but less than $700 million
2. Have been subject to SEC reporting requirements for at least 12 prior months
3. Have published at least one prior annual report

In September 2005, the SEC voted to amend the definition of accelerated filer to include a new category of “large accelerated filers,” for companies with a public float of $700 million. The amendments also:

• Redefine “accelerated filers” as companies that have at least $75 million but less than $700 million in public float
• Permit an accelerated filer whose public float has dropped below $25 million to file an annual report on a non-accelerated basis for the same fiscal year that the determination of public float is made
• Permit a large accelerated filer to exit large accelerated filer status once its public float has dropped below $75 million

Related Authorities

• Securities and Exchange Act of 1934 (17 CFR , Rule 12b-2—Definitions
• SEC amendment to accelerated filer definition (PDF)

References

• Text of 17 CFR 240 Rule 12b-2
• SEC press release on revision to definitions and extension of Sarbanes-Oxley filing deadline for non-accelerated filers