PCAOB: Registered Firms Are Not Required to File an Annual Report or Pay Fee in 2009


In June 2008, the Board adopted and submitted for approval by the SEC rules that, among other things, require each registered firm to submit an annual report on Form 2 by June 30 of each year.  The Board provided that the rules would take effect 60 days after Commission approval. 


The rules remain pending before the Commission for approval and will not be effective before June 30, 2009. 


Accordingly, there is no requirement for registered firms to file an annual report or pay an annual fee in 2009.  Under the rules as adopted by the Board, the first annual report on Form 2 will be due on the first June 30 that occurs after the rules take effect, and the first annual fee, in an amount to be announced by the Board at a later date, will be due in that same year.  


The separate obligation to file any required special reports on Form 3 will commence as soon as the rules take effect, 60 days after Commission approval.


Rules on Periodic Reporting by Registered Public Accounting Firms:  http://www.pcaobus.org/Rules/Docket_019/index.aspx