SEC Form 15 is a voluntary filing with the Securities and Exchange Commission (SEC), also known as the Certification and Notice of Termination of Registration. It is used by companies to revoke their registrations as publicly-traded corporations.
Form 15 is typically used by small companies with a limited number of shareholders who decide that the expense and reporting requirements of remaining a publicly-traded corporation are too onerous. The company's shares will cease trading, while its remaining owners may retain or sell their shares privately.
KEY TAKEAWAYS Form 15 informs the SEC that a company no longer wants to trade publicly, and therefore won't follow the usual government reporting requirements. The form is most often used by small companies with few shareholders who find the SEC reporting regulations burdensome. It is sometimes used by companies in deep trouble that face imminent de-listing anyway. Understanding SEC Form 15 SEC Form 15 notifies the SEC that the company filing it does not intend to continue to file the various forms that are required in order to maintain its listing as a public company.
A company must have fewer than 300 shareholders to be eligible to file Form 15.
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