How to file your Regulation Crowdfunding annual report (Form C-AR)

If you complete a successful Regulation Crowdfunding offering, the law requires that you file an annual report (Form C-AR) to update the SEC and your investors about your company. ## Filing deadline The annual report is due no later than 120 days after the end of your fiscal year, which for most companies means it’s due by the end of April (typically April 30 for December 31 fiscal year end). ## Filing options Wefunder charges a $500 flat fee to file your annual report, or you can follow the steps below to file it yourself. ## How to file it yourself 1. Fill out your annual report by selecting **Form C-AR** here: https://www.sec.gov/files/formc.pdf. 2. You should fill out: - Cover Sheet - Questions: 1, 3, 4, 5, 6, 7, 8, 17, 24, 25, 26, 27, 28, 29 - Note that your financial statements do not need to be reviewed by a CPA. 3. You or your lawyer file the report here: https://www.onlineforms.edgarfiling.sec.gov/Welcome/EDGAROnlineFormsLogin.htm. ## After you file It's a good idea to post an update to your Wefunder investors with the link to the filed annual report and to link the annual report somewhere on your company website. ## If you do not file If you neglect to file an annual report, you won’t be able to raise future Regulation Crowdfunding rounds until you catch up on filing. However, you may still raise funds from accredited investors under Regulation D. ## Do I still have to file if I'm not raising again? Yes. The Form C-AR requirement is tied to having raised under Reg CF, not to your current fundraising plans. As long as you've run a successful Reg CF offering and your investors still hold securities from it, the annual report obligation applies. There are a few off-ramps (300-holder threshold, dissolution, IPO, repurchase of all securities). For the full list and when each applies, see [Do I have to file Form C-AR if I'm not raising again?](https://help.wefunder.com/hc/t6vc02j1gl/article/02dff9dc). ## When you may not need to file You do not need to file an annual report if any of the following apply: - Your company was dissolved. - You repurchased all issued shares. - All shares have been liquidated. - Your company became a public reporting company. - You have fewer than 300 shareholders AND you already filed an annual report. - You have filed at least three annual reports. If none of these conditions apply, you must file your annual report on time. ## Different reporting requirements - If you have fewer than 300 shareholders, you only need to file one annual report. - If you have more than 300 shareholders but less than $10 million in assets, you must file three annual reports before being exempt. Note: All Wefunder investors aggregated into an SPV count as one shareholder of record. ## Consequences - You cannot raise another Regulation Crowdfunding round until your required Annual Reports are filed. - You may still raise via Regulation D (accredited investors only).