The SEC (security exchange commission) have very clear guidelines when it comes to XBRL filing. XBRL is a format. If you do not present your documents as an XBRL filing, it is just like not filing at all. There can be a huge backlash if your filings are not done on time, risking an improper filing is not a good idea.
The Repercussions
The best way to ensure that your companies stock is always in good standing and reported as such is to make sure that everything is done above board, including ensuring that filings are done in the specific format and that they are on time. Typically, the repercussions can include:
- Tagging errors can misrepresent finances
- Draw unnecessary scrutiny from the SEC
- Delay filing status because of errors
There are other repercussions like penalties that you could have to deal with. Having the right support can make a huge difference.
Worry Free Support
Making sure filings are done in the right format does not require a huge investment in software. There is no better way to make sure your filings are done right, than to have an expert support system with experience. With the right support you can have the worry-free filing that you want and rest easy knowing that your company is in good standing.
Who Can You Turn To?
Making sure that your company complies with filing requirements is as easy as picking up the phone and letting the experts at Colonial Stock Transfer manage your filings. You get the experienced support you can trust and all the added value that you need, like state of the art management and filing. It is always a bad idea to not follow SEC rules to the letter. Colonial Stock Transfer makes sure that you can.
