The Securities and Exchange Commission is allowing companies to begin test filings of the form that will be used when conducting Regulation Crowdfunding offerings.

Under new SEC rules that take effect on May 16, 2016, companies will be permitted to offer and sell securities through crowdfunding.  To do so, they must file the required disclosures about the offering on a new Form C on EDGAR, the SEC’s electronic document filing system. The Commission has announced that prospective filers may now submit test filings on the new form until Feb. 29, 2016, a move intended to help them become more familiar with the mechanics of the filing process in advance of an offering.

Companies can access the Form C on the SEC’s EDGAR filing website provided they have a Central Index Key (CIK) and a CIK Confirmation Code (CCC).  These codes are necessary for filing on EDGAR and information on how to obtain them is available on the EDGAR Filer Management page.  The draft technical specifications for the new form are located on the Information for EDGAR Filers page.  Additional information is available on the EDGAR Quick Start Reference Guide.

During this testing period, filers should identify their Form C filings as “test” filings.  “Live” filings are not permitted, and the system will reject them until the rules are effective.  Test filings will not be evaluated for compliance with the rules and will not be reviewed by SEC staff or available for public viewing. 

As is the case with any document submitted on EDGAR, testers should not submit confidential or personally identifiable information in the test filings. Those who encounter problems during the testing of Form C may email or call Filer Tech Support at 202-551-8900.