In May 2026, the SEC proposed rule and form amendments that would allow public companies to file semiannual reports instead of traditional quarterly reports. The change would offer issuers greater flexibility in meeting interim reporting obligations under federal securities laws. Under the proposal, companies subject to Exchange Act Sections 13(a) or 15(d) may choose to file a new Form 10‑S twice a year in place of Form 10‑Q. Rather than file three quarterly reports and one annual report, eligible companies could choose the streamlined option to file one semiannual report and one annual report per fiscal year. Companies in the European Union, the United Kingdom, Hong Kong, and Japan have semiannual reporting requirements, while Regulators in the United States, Canada, and China require quarterly financial reporting.

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Quarterly versus Semiannual – Implications of SEC Rule Amendments (xbrl.us)

SEC Proposed Rule: Semiannual Reporting (sec.gov)