The SEC has posted new guidance for issuers related to their Form D filings.

The Division of Corporation Finance Guidance on Form D Filing Process explains how to electronically file Form D, a form for a notice required to be filed by companies and funds that have sold securities without registration under the Securities Act of 1933 in an offering based on a claim of exemption under Rule 504, 505, or 506 or Section 4(6) of Regulation D.

As noted here, under rules adopted by the SEC earlier this year, a company may voluntarily submit an electronic Form D filing as of Sept. 15. Mandatory electronic filing of Form D will be required as of March 16, 2009.

The guide also explains the revised Form D information requirements. From now until March 16, 2009, companies can file on paper or electronically either the old Form D, which has been revised slightly and is now called Temporary Form D, or the new Form D, which contains the changes to the information requirements. The guide includes information on how to find or obtain a Central Index Key number (the 10-digit number needed to file Form D).

The SEC has also posted Filing and Amending a Form D Notice: A Compliance Guide for Small Entities and Others.

Update: An SEC press release encourages Form D filers to use the voluntary system and “inform SEC staff about their experiences” by e-mailing the SEC’s Office of Small Business Policy in the Division of Corporation Finance.

The SEC also expects adjustments to be made to the system “to increase its utility and user-friendliness” before the online filing of Form D becomes mandatory. In addition, the staff is still working with the North American Securities Administrators Association to link its Form D filing system with a system built by state securities regulators that would accept state Form D filings. However, no timetable has been adopted for linking the two systems.

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